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section 314 of the Companies Act, 1956.

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(Querist)
01 October 2008 In a Private Limited Company , if a relative of the Directors is appointed as a management consultant and is paid a monthly salary of Rs. 10,000/- will the provisions of section 314 of Companies Act, 1956 be attracted? If so, What is the procedure.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
01 October 2008 No. Applicable only if the monthly salary is more than 50000 in the case of pvt ltd.
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