Section 314

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2011 Can anyone please tell me the difference between section 314(1) and 314(1B).
Will sec 314(1) require approval of CG or is special resolution enough?

CS Suraj Arora

CS Suraj Arora (Expert)
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17 December 2011 Dear

Section 314(1) of the Act applicable on Directors and it focused on Directors it self of the Company who hold any Office or Place of Profit in the Company.

However,314(1)(B) is applicable When any relative of the Director,means it focused on Relatives of Director involved.

Approval of Central Government is required after 250,000/-