Section 274(1)(g) clearly applies to pvt co which is a subsidiary of a public company. Any section if it isn't applicable to pvt company will clearly specified so otherwise it implies that it applies to pvt as well public company.
Secondly section 274(3) says that a pvt company which is not a sub of a pub company ( it means a pure Pvt company) can add extra disqualification by its artclies, in addition to that in sub section (1). it doesn't mean it excludes pvt company.
So , as per my view , section 274 applies to private as well as public companies.Please correct if'm wrong.