Section 314

Hello,

As per sec 314 1b if he is holding the office of MD/Manager then this sec would not apply.

Further clarification is welcomed.

Regards

Nidhi

Sec 314(1) is not applied to M.D, however sec 314(1B) is also applied to M.D according to which if M.D is relative, partner etc.. of director and M.D is to get remuneration of  50000 or more per month then prior spl. resolution and prior govt. approval is required.

50,000 amount is now changed to 2,50,000.

thanks members

Hi Rachit

Sec 314(1) is not applied to M.D, however sec 314(1B) is also applied to M.D according to which if M.D is relative, partner etc.. of director and M.D is to get remuneration of  50000 or more per month then prior spl. resolution and prior govt. approval is required.

My Querry is, whether the relative of Managing Director also covered under this section. In other words, Does the term Director mentioned in section 314 cover the Managing Director also.

Please Clarify

Section 314 is not applicable for appointment of managing director. Refer Section 314(1)...