Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Mgt-14

Save Share

Join Us Follow Us Add as Source

This query is : Open

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2014 In case of increase of remuneration of Director in PVT LTD Company, whether we required to file MGT-14 because in PVT LTD Director or Managing director(MD) is same and director satisfied the definition of MD.

Hitendra Jain

Hitendra Jain (Expert)
Follow

04 July 2014 Requirement to have a Managing Director is govern under section 203(1)(1) of the Companies Act, 2013 read with Rule 8 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Rule 8 restrict the operation of Section 203 to Listed Company and Public Companies having Share Capital [Paid Up] of Ten Crore or More.
Although increase / decrease the remuneration of Managing director triggered on Sec. 117(3) (c) so as to file MGT-14 u/s 403 since M D itself not required to have in private limited company there is no need to file MGT-14.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now