Resolution u/s 314

[Sonia Sehgal]

Dear Members,

Can anyone please mail the format of the EGM resolution to be passed u/s 314?

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Regards

Sonia Sehgal

[PL Babu]

http://www.caclubindia.com/experts/special-resolution-alongwith-explanatory-statement-u-s-314-353955.asp

[Kanak Jain]

plz explain Limit of 50,000 u/s 314.....i it applicable to only one relative....or can we give seperate 50,000 to 4 relatives...

 

it means 2 lakh to toatal 4 relatives of director (50,000 each relative)

 

 

plz clearify.

 

 

Thanks & regards

cs kanak jain

http://www.caclubindia.com/experts/special-resolution-alongwith-explanatory-statement-u-s-314-353955.asp

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[Venkat Ragavan]

Sec. 314 – Appointment of relative of a Director to an office or place of profit – special Resolution

"RESOLVED that pursuant to the provisions of section 314 (1B) of the Companies Act, 1956, and subject to the approval of the Central Government, consent of the Company be and is hereby accorded to Shri……., a relative of Shri………., a Director of the Company to hold an office or place of profit as Senior Supervising Officer of the company in the Distribution Division with effect from the………….. 2000……on the following terms:-

(a) Basic salary – Rs. ……….per month;

(b) Dearness allowance at the rate of 5 per cent on the basis salary;

(c) Rent free residential accommodation;

(d) Contribution to provident and superannuation funds and other statutary funds as per the rules of the company;

(f) Leave and leave travel allowance as per the rules of the company."

 

 

Sec. 314 – Appointment of an employee of the company as a Director – Special Resolution

"RESOLVED that Shri………, the Accounts Manager of the Company be and is hereby appointed a Director of the company.

RESOLVED further that consent of the Company be and is hereby accorded under section 314(1) to Shri…….. continuing to hold the position of Accounts Manager of the company on a monthly remuneration of Rs. …………per month."