Impact of companies act 2013 in directors transactions

CA Parul Saxena (CA) (8488 Points)

18 November 2014  

Our co.pays remuneration at Rs.300000 per month to each of the 2 directors. But remuneration is not actually paid off simply an entry is made as follows:-

Directors Remuneration Dr.......................................................

To Directors current account................................................................

what are the implications of the same as per companies act 2013...........??????????????????????????????