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.
Some one reply. I have found that Question & suggested of ICAI that was in Munish Bhandari Latest Edition-
Here is the link to Nov 2010 Law paper along with ICAI suggested. Please refer Ques No. 3 part (b).
It says that Sec .314(1) is applicable in case Director of a Co. is appointed as a Manager in Co's Subsidiary. But we know that office of Manager is exempted from the scope of this section.
https://220.227.161.86/212284-CAL-SN-2010(final).pdf
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