Hi,
One simple and clear question : is Section 197 and Schedule V (Part II) is applicable to a Private Limited Company is applicable to a Private Limited Company?
regards
4 Replies
Deepak Maharishi
(CS)
(514 Points)
Replied 21 January 2015
Hi,
One simple and clear question : is Section 197 and Schedule V (Part II) is applicable to a Private Limited Company?
regards
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 21 January 2015
No.
Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company
Deepak Maharishi
(CS)
(514 Points)
Replied 21 January 2015
Thanks Mitesh,
Therefore, if a private company is in loss then also it can pay the remuneration to its managing director without having any board or shareholder approval correct?
regards
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 21 January 2015
yes.
private company can pay remuneration even in case of loss
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