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Section 198

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(Querist)
30 March 2012 Does Section 198 of Companies Act 1956 is applicable on Closely held limited company?
Our's is a Limited Company but not listed all the shares are allotted to the employees of the company so i want to ask whether section 198 is applicable to us or not?

Please provide me your expert opinion
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Ajay Mishra

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Ajay Mishra (Expert)
30 March 2012 Hi


Section 198 of the Companies Act, 1956 deal with overall maximum managerial remuneration t in case of absence or inadequate profits.


This section will apply public company whether it is listed or not and private company which is subsidiary of public company.


Regards
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Charu Srivastava

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Charu Srivastava (Expert)
30 March 2012 Agree with sir..
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