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Companies act 2013

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2014 Sir
In 1 of the private limited company salary is paid to 3 relatives of directors. Is there any compliance required like special resolution, approval in AGM or intimation to ROC. It also desires to get a rented property from a relative of director. Guide regarding the compliances.
Thanking you
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Shashikant Sharma

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Shashikant Sharma (Expert)
05 December 2014 As per Section 188 (1)(f) of the Companies Act, 2013 Board resolution is mandatory for related party's appointment to any office or place of profit in the company.

If monthly remuneration exceeds 2.5 Lakhs, special resolution is mandatory.

If special resolution is passed you have to file form MGT-14 with ROC within 30 days.

Central government approval is removed under 2013 Act.
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