Managerial remuneration to pvt co.,

This query is : Resolved

CA JANARDHAN REDDY (Querist)
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07 October 2013 Dear Friends,

Where as per the Old Co., Act Managerial Remuneration is not applicable to Pvt co.,

Could you please tell me whether Managerial Remuneration is applicable to Pvt Co., as per New Companies Act 2013

If it is applicable which Section.

There is a confusion between old act and new act.

regards,
Janardhan

Ajay Mishra

Ajay Mishra (Expert)
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08 October 2013 Hi

The remuneration clause :

The provision of section 197 of the new Companies Act, 2013 deal with overall maximum managerial remuneration will not apply to private limited company and it is applicable only on public company.

However the provision of section 196 deal with appointment of MD apply to all companies.

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