Sec.314 of companies act 1956

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Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2011 I want to know about the limit of 10000 is given in Sec314 for office or place of profit for specified parsons... IS THERE ANY AMMENDMENT IN IT FOR MAY 2012

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2011 Pl see the details given below which is applicable for May 2012 exam.

The Ministry of Corporate Affairs has notified vide NOTIFICATION [F.NO. 17/75/2011-C.L.V], DATED 6-4-2011 enhancement in previous limit of Rs. Fifty thousand per month given under Rule 3 of Director’s Relative (Office or Place of Profit) Rules, 2003 to Rs. Two lakh fifty thousand per month for payment remuneration to relatives or partners of the directors of the Company falling under Section 314(1B) of the Companies Act 1956.

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