Company law-related to section 314
This query is : Resolved
29 October 2012
Dear ALL
Please tell me if we appoint a director in our company who is related to other director then whether section 314 of the companies act is applicable or not.
Please tell me if we appoint a director in our company who is related to other director then whether section 314 of the companies act is applicable or not.
29 October 2012
Hi
Section 314(1B) will be applicable if the such director relative is appointed in the company.
But, if such relative is a relative of managing director or manager and he draw remuneration less the Rs. 250000/-pm then section 314 will not apply.
Section 314(1B) will be applicable if the such director relative is appointed in the company.
But, if such relative is a relative of managing director or manager and he draw remuneration less the Rs. 250000/-pm then section 314 will not apply.
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