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Managerial Remuneration

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(Querist)
28 March 2010 I have some confusion related to managerial remuneration whether sec-309,311,349 are applicable to privat limited companies.
1) the celing limit of 11% of book profit as managerial remuneration applies to private companies.

Reply quickly ist urgent

thanks in advance.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
28 March 2010 Above sections are not applicable to Private Company. The above sections are applicable to Public limited company and deemed public limited company.
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CA Babit Khurana

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CA Babit Khurana (Querist)
28 March 2010 Sir but i have read a full section from institute module, and not be able to find the word that this doesnot apply to pvt ltd companies, can you provide me reference for ths same.
thanx in advance
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Rasesh

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Rasesh (Expert)
28 March 2010 Not applicable to private limited companies.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
28 March 2010 in Company Act,1956 clearly indicates that sec-309,311,349 for Managerial Remuneration will not applicable for Pvt. Companies.
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