Shivam Singhal

Section 197 regulates remuneration payable by a public company to its directors. The words 'a public company' in sub-section (1) restrict the application of the section to public companies. Therefore, Section 197 does not apply to a private company (except a private company which is subsidiary of a public company). Although the words 'public company' appear in only sub-section(1), going by the principle of interpretation that a section should be interpreted by reading it as a whole.