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Whether the provisions related to Managerial rumeneration be applicable to private company?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Posted By: Vishwas panjiar 10 year(s) ago

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Anita

why it is applicable to pvt cos?. sec.197 clearly says that the total remuneration payable by a public company. And in the first proviso it is written that the limit can be crossed by complying with the provisions of sch.V.Therefore private company seems to be exempted.need to hv some more views on this.

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Anita

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Expert Ankit Singhi

I think only in case of loss making private company , schedule V shall be applicable till the time necessary exemption notification comes. which is only possible once parliament is in session

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Expert Ankit Singhi

In case company has no profit or indequate profit

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