sec.314 of companies act

Others 742 views 5 replies

Please give clarification

Is sec 314 will apply to private ltd company

Replies (5)

Section 314 is applicable to all the Companies equally no exception has been provided in the section for Pvt. Ltd. Compny, whether it covers in several places the relative of Director of a Pvt. Ltd. Company specificaly. For Example:-

 

7[(1B) Notwithstanding anything contained in sub-section (1),—

 

(a) no partner or relative of a director or manager,

 

(b) no firm in which such director or manager, or relative of either, is a partner,

 

(c) no private company of which such a director or manager, or relative of either, is a director or member,

 

shall hold any office or place of profit in the company which carries a total monthly remuneration of not less than [such sum as may be prescribed], except with the prior consent of the company by a special resolution and the approval of the Central Government:

Dear Malli and Nag

 

In Short yes its applicable on Pvt Ltd.

 

Regards

Originally posted by : Nitin Grover

Dear Malli and Nag



In Short yes its applicable on Pvt Ltd.



Regards

ok friends

if the director taking no remunaration

But he receives other consultant fee or rent or contractor etc

than 314 place of profit will apply

Irrespective of remuneration 314 will apply in all cases.

Others views solicited.

 

Regards,


CCI Pro

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