Dear Members.
Its regarding Section 314. Section 314 is applicable to the directors of Comapany. Does it applicable to Managing Directors also. Is there any circular/ notification clarifying the applicability of provision of this section.
Please Reply
Hello,
As per sec 314 1b if he is holding the office of MD/Manager then this sec would not apply.
Further clarification is welcomed.
Regards
Nidhi
Sec 314(1) is not applied to M.D, however sec 314(1B) is also applied to M.D according to which if M.D is relative, partner etc.. of director and M.D is to get remuneration of 50000 or more per month then prior spl. resolution and prior govt. approval is required.
50,000 amount is now changed to 2,50,000.
thanks members
Hi Rachit
Sec 314(1) is not applied to M.D, however sec 314(1B) is also applied to M.D according to which if M.D is relative, partner etc.. of director and M.D is to get remuneration of 50000 or more per month then prior spl. resolution and prior govt. approval is required.
My Querry is, whether the relative of Managing Director also covered under this section. In other words, Does the term Director mentioned in section 314 cover the Managing Director also.
Please Clarify
Section 314 is not applicable for appointment of managing director. Refer Section 314(1)...
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