Applicability of schedule V to private companies

[manoj sharma]

Dear friends,

Section 197 explicitly excludes private companies from its ambit but there is no provision which makes schedule V non applicable to private companies. Is is applicable to private company or not.

[sachin kumar]

No as the remuneration to MD and WTD by private co. is not fixed as per section 197 of the act, it is depend on private co. How much they want to pay to its MD or WTD, section 197  and schedule V is not applicable to pvt co.

On 14-Feb-2015 2:34 PM, "manoj sharma" <csmano...@gmail.com> wrote:

Dear friends,

Section 197 explicitly excludes private companies from its ambit but there is no provision which makes schedule V non applicable to private companies. Is is applicable to private company or not.

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[VIJAY DAKSHINI]

Schedule V not applicable to private companies.

[Ramaswami Mohan]

Then should we file MR-1 or no ?

regards,

Mohan

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CS. R.  Mohan
Mobile: 9908814677

[VIJAY DAKSHINI]

Yes, You need to file MR-1, for appointment of Managerial Personnel within 60 days of Appointment.

Thanks & Regards

VIJAY  M  DAKSHINI

(Company Secretary)

(M) 81286 86324

email:- csdaxi...@gmail.com

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[Ramaswami Mohan]

Thanks, Mr. Vijay ,

regards,

Mohan