Sec 309 applicability

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Premnath. M (Querist)
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12 November 2008 Whether sec 309 is applicable in case of a private company or not? If not is there any procedure to be coplied by the company to pay Remuneration to the directors?

Deepak Agrawal

Deepak Agrawal (Expert)
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12 November 2008 I have uploaded file of bare act of corporate law.
Download it.

Also no seperate calcultion is there for Pvt Co.

S Kedarnath

S Kedarnath (Expert)
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12 November 2008 A private co can pay remuneration in accordance with the provisions contained in the AOA.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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12 November 2008 Company law does not restrict a pvt company in payment of remuneration to directors.

Ravikumar.G

Ravikumar.G (Expert)
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17 November 2008 The restrictions on payment of managerial remuneration contained u/s 198,309, 387 & Sch XIII do not apply to a private company.

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