Applicability of Section 197 to Pvt ltd Co.

[P.Bharat Raj]

Dear Members,

Is section 197 of NCA 2013 is applicable to Pvt ltd company also

[MOHIT SALUJA]

Dear Raj Ji

                         Greetings of the Day.

Section 197 (1) says The total managerial remuneration payable by a public company, to its directors, including managing director and whole-time director, and its manager in respect of any financial year shall not exceed eleven per cent. of the net profits of that company for that financial year computed in the manner laid down in section 198

Hence, we can conclude that it applicable only Public Limited Companies. Other views are solicited

Regards,
Mohit Saluja
Company Secretary
9914558709

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[Nitin Dwivedi]

It is applicable to Public limited Company.

NITIN DWIVEDI

FUJITSU TEN MINDA INDIA PVT. LTD.

Company Secretary- Finance & Accounts

Plot No- 383, Ph.-II Industrial Growth Center, Sector-3,

Bawal -123501 Distt.- Rewari, Haryana , India

Mobile: +91-9971118508

E-mail: ndwi...@fujitsuten-minda.co.in

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[Ganga Anil Kumar]

Thanking you,

Warm Regards

CS Anil Kumar Ganga | Hyderabad | India | +91 80082 99901 | +91 84980 84006 

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On 18 April 2014 15:23, P.Bharat Raj <csbhar...@gmail.com> wrote:

Dear Members,

Is section 197 of NCA 2013 is applicable to Pvt ltd company also

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[sachin banakar]

Hi,

 

Section 197 is relating to Managerial Remuneration  it is applicable to Public Company as per Companies Act 2012.

But section 196 of Companies act 2012 is relating to Appointment of MD/WTD or Manager its applicable to all companies.

On Fri, Apr 18, 2014 at 3:23 PM, P.Bharat Raj <csbhar...@gmail.com> wrote:

Dear Members,

Is section 197 of NCA 2013 is applicable to Pvt ltd company also

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Regards,

Sachin Banakar