Sec. 314(1) of co. act

CA Sahil Singla.. (Service Tax ) (3746 Points)

27 August 2011  

Whether Sec. 314(1) of Co. Act is applicable in case a person is appointed as a manager  ? It clearly says that it's not applicable but most of the answers r not considering this exemption. Even ICAI's suggested of CA Final Nov 2010 Exam says that appointment of manager is regarded as a appontment to place of profit in Co.