SUSHIL KUMAR ANTAL

Please note that Section 196 of the Companies Act, 2013 is apply on both companies i.e., Private Company or Public Companies. But we can see it into two Parts one for Appointment second for Remuneration For Appointment- Section 196 and condition of appointment in Schedule V are applicable for both companies Private as well as Public. For Remuneration- Section 197 and condition in Schedule V are applicable only in case of Public Company. Therefore Managerial Remuneration does not apply to a Pvt. Company.