Sec 314(1)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2011 As per sce314(1) if the following persons are appointed at an office or place of profit
then special resolution will be passed.

A firm in which a director or relative of the director is a partner.

A private company in which a director of the company is a director or member.

But how a firm or pvt ltd company will held the office or place of profit?

udit sharma

udit sharma (Expert)
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12 January 2011 Hi..

As per the explanation to section 314 of the Companies Act, 1956, a partner or relative of a Director,a firm in which any Director or his relative is a partner, a Private Company in which a Director of the Company is a Director or member, Director or manager of such private Company in which a Director of the Company is a Director or member is said to hold an office or place of profit in the Company if it/he/she receives anything from the Company by way of salary,fees, commission,perquisites,right to occupy free of rent any premises for residential purpose or otherwise.

Coming to ur query, a Legal/ Consulting Firm or an Audit Firm rendering serivces to the Company in which a relative of the Director/ Director is a partner and is receiving remuneration for the services rendered is said to hold an office or place of profit in the Company.

God Bless

CS Udit Sharma

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