I would like to know that:
Can A Ltd. (Public Unlisted Co.) make direct payment of tuition fees and living and maintenance exp. of Son of MD?
Such a facility is not included in the remuneration package of MD.
In return of such payment, Son of MD will execute a bond with Co. to serve the co. for a period of three years after completion of his studies at a nominal remuneration to be decided by co. in future.
Plz tell me the compliances invloved , whether Section 314 wil be applicable?
The Auditors are insisting that only a Board Resolution is sufficient. Are they right?
CAclubindia
