HI Caclubians, I faced a problem and this time in Law arena. Can Public Limited Co pay the personal LIC premium of directors? Is it violating the SEC 297 & 299? And it is not a KMP Policy dear...
Please reply.
durga prasad bahety (CA FINAL) (120 Points)
12 December 2013HI Caclubians, I faced a problem and this time in Law arena. Can Public Limited Co pay the personal LIC premium of directors? Is it violating the SEC 297 & 299? And it is not a KMP Policy dear...
Please reply.
Anil Dhiman
(Company Secretary)
(114 Points)
Replied 12 December 2013
I dont think Public Limited Company can pay this.
durga prasad bahety
(CA FINAL)
(120 Points)
Replied 12 December 2013
Thanks Anil, but is it a violation of Sec 299 and therefore shall we enter into register u/s 301.My query is still unsolved.
Anil Dhiman
(Company Secretary)
(114 Points)
Replied 12 December 2013
When it is not applicable, how does the question of applicability of section 299 comes?
durga prasad bahety
(CA FINAL)
(120 Points)
Replied 12 December 2013
Dear Anil,
Co is paying that amount. Now what is the consequences.
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