27 August 2011
Whether Sec. 314(1) of Co. Act is applicable in case a person is appointed as a manager ? It clearly says that it's not applicable but most of the answers r not considering this exemption. Even ICAI's suggested of CA Final Nov 2010 Exam says that appointment of manager is regarded as a appontment to place of profit in Co.
27 August 2011
First need to define the place of profit.....so post of the manager is a place of profit so section 314 is applicable if other condition is fulfilled.
CAclubindia
