Appointment of Manager, relative of director
This query is : Resolved
Guest
Guest
(Querist)
18 December 2010
Can director's relative appointed as manager for Rs. 60,000/- p.m. in Pvt.Ltd. Co. Is it Sec.314 applicable.
Is it any limit for the above remuneration
Is it necessary for Pvt.Ltd., co approval from Central Government
Is it any limit for the above remuneration
Is it necessary for Pvt.Ltd., co approval from Central Government
18 December 2010
Yes. Director's relative can be appointed. However special resolution in GM is required as specified in section 314 of the Companies Act. Further the remuneration exceeds the limit of Rs.50,000/- provided in the Director's relatives (office or Place of Profit) Rules,2003. Hence CG approval is also required.
Guest
Guest
(Querist)
19 December 2010
Is it necessary for Pvt.Ltd., co approval from Central Government
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