What is use of section 314 of companies act
This query is : Resolved
11 February 2012
Dear all,
Please elaborate the section 314
Please elaborate the section 314
13 February 2012
The provisions of Section 314 of the Companies Act, 1956 deal with Directors or relatives holding Office or Place of profit.
This Section applies both to Public as well as Private Ltd Companies. The main aim of this Section is to ensure that the directors who occupy a fiduciary position in the company should not misuse their position directly or indirectly. Section 314 of the Companies Act, 1956 prohibits appointment of Directors or their relatives or firm or companies in which Directors are interested to hold “ Office or Place of Profit” without approval of members in the general meeting in all cases and approval of Central Government in certain cases.
This Section applies both to Public as well as Private Ltd Companies. The main aim of this Section is to ensure that the directors who occupy a fiduciary position in the company should not misuse their position directly or indirectly. Section 314 of the Companies Act, 1956 prohibits appointment of Directors or their relatives or firm or companies in which Directors are interested to hold “ Office or Place of Profit” without approval of members in the general meeting in all cases and approval of Central Government in certain cases.
13 February 2012
Dear Mitesh Ji,
Thanks a lot.
Thanks a lot.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Regarding Appointment of auditor in case of casual vacancy
- GST- DRC 03 RCM Liability
- Query on managerial remuneration u/s 197 of CA 2013
- Validity of form 15 G and 15 H on Interest on fixed deposit
- Conversion of Proprietorship Firm to Partnership Firm
- GSTR 1- Amend Credit Note
- Updated return filing
- Supply to unit situated in SEZ
- Additional income for updated return
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
Trending Online Classes
CAclubindia
