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wheter pvt. comp. req. to show mang remun. in notes on acct

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(Querist)
30 November 2009 whether a pvt company also required to show managerial remuneration in notes on accounts
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Guest (Expert)
01 December 2009 Yes its mandatory as per Para II to schedule VI to the companies act.
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Ca. Rajesh Dhama

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Ca. Rajesh Dhama (Querist)
01 December 2009 Thanks but the query is not show simpal because:
1.sch VI-II point no.4 refer managerial remuneation as per sec 198 so some of the seniors of me have opinion that because sec 198 is not applicable to pvt. comp so a pvt company is not require to so its by way of notes.
2 but my opinion is that because sec.198 put restriction on mxim remuneration which is only applicable for publice company.
and further sec 198 define remuneration which is not spcified for pub comp

so my own opinion is that because purpose of refering sec 198 in sch. is to refering nature of remuneration so on the basis of this i think disclosure also applicable for pvt. company.
Profile Image

Ca. Rajesh Dhama

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Ca. Rajesh Dhama (Querist)
01 December 2009 Thanks but the query is not show simpal because:
1.sch VI-II point no.4 refer managerial remuneation as per sec 198 so some of the seniors of me have opinion that because sec 198 is not applicable to pvt. comp so a pvt company is not require to so its by way of notes.
2 but my opinion is that because sec.198 put restriction on mxim remuneration which is only applicable for publice company.
and further sec 198 define remuneration which is not spcified for pub comp

so my own opinion is that because purpose of refering sec 198 in sch. is to refering nature of remuneration so on the basis of this i think disclosure also applicable for pvt. company.
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