Section 217(2A) Companies Act

Originally posted by : Abishekjain
	Is there any amendment for Sec 217(2A). Jayaraman Sir told it got change i.e. 60l pa and 5l pm. pls clarify from when and the details of amendment if any.

Yeah even i want to know which limit is applicable fr nov11 exam..

Whether we need to quote 24Lacs per annum

OR

60 Lacs per annum..........

Pls Clarify asap...

Thanks

Dear Abhishek,

Ministry has revised the limits under section 217(2A) to Rs. 5 Lacs p.m. or Rs. 60 lacs p.a. and such limits are applicable to all Director Reports approved by the Board of Directors on or after 1st April, 2011

Sir,please refer me with act definition..whether MD is an employee or not