Section 314 of companies act, 1956
This query is : Resolved
19 July 2013
Hello,
My company is foreign subsidiary Private Limited company. We had paid 2,34,960/- Rs to our director for providing project support consultancy. and same amount paid to a company in which this director is appointed as Director.
my query is, is this transaction is covered under section 314 of Companies Act, 1956 or section 301 of companies Act?y
If yes, then please provide me complete Procedure of concern section.
My company is foreign subsidiary Private Limited company. We had paid 2,34,960/- Rs to our director for providing project support consultancy. and same amount paid to a company in which this director is appointed as Director.
my query is, is this transaction is covered under section 314 of Companies Act, 1956 or section 301 of companies Act?y
If yes, then please provide me complete Procedure of concern section.
Ajay Mishra
(Expert)
19 July 2013
Hi
The provision of section 301 deal with contract or agreement, if you have made such agreement, then you will made entry therein.
A director who is receiving any amount in addition to remuneration will covered under section 314.
The provision of section 301 deal with contract or agreement, if you have made such agreement, then you will made entry therein.
A director who is receiving any amount in addition to remuneration will covered under section 314.
22 July 2013
Thank You Sir. We have agreement with the director, that means section 301 is applicable in this case?
Ajay Mishra
(Expert)
22 July 2013
No, contract given under section 297 and 299 will be covered under section 301 register.
Other details of director will be made in section 303 and 307 of the Companies Act, 1956.
Other details of director will be made in section 303 and 307 of the Companies Act, 1956.
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