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Office or place for profit

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2010 Our company had appointed one of the director's daughter and son in law on Rs40000/- P.m on job as an officer last year
I want to know whether Section 314 is applicable ? and if yes then what is remedy ?
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Rasesh

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Rasesh (Expert)
04 June 2010 Section 314 will be applicable. The approval can be made with prior approval of the members, since the remuneration is not above Rs. 50,000/-.
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