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S.297,299 of Companies Act

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(Querist)
11 March 2010 Dear Sir/Madam
Whether Section 297, 299 is applicable to Pvt Ltd company?

Also let me know:
The company paying royalty to directors. Is it consider/ include as remuneration to director? Shall we comply with s.314? or it attracts to sec.309?

plz reply.
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Rasesh

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Rasesh (Expert)
11 March 2010 Section 297 and 299 are applicable to private limited companies.

In my view, royalty to director would be considered as remuneration and would attract 309.

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