HI Caclubians, I faced a problem and this time in Law arena. Can Public Limited Co pay the personal LIC premium of directors? Is it violating the SEC 297 & 299? And it is not a KMP Policy dear...
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I dont think Public Limited Company can pay this.
Thanks Anil, but is it a violation of Sec 299 and therefore shall we enter into register u/s 301.My query is still unsolved.
When it is not applicable, how does the question of applicability of section 299 comes?
Dear Anil,
Co is paying that amount. Now what is the consequences.
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