Section 198

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Neetu Gupta (Querist)
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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

Ajay Mishra

Ajay Mishra (Expert)
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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

Charu Srivastava

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

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