Section 314(1)(b) in The Companies Act, 1956

[Cites 0, Cited by 4] [Section 314(1)] [Section 314] [Entire Act]

Union of India - Subsection

Section 314(1)(b) in The Companies Act, 1956

(b)[no partner or relative of such Director, no firm in which such Director, or a relative of such Director, is a partner, no private company of which such Director is a Director or member, and no Director or manager of such a private company, shall hold any office or place of profit carrying a total monthly remuneration of [such sum as may be prescribed],[, except that of Managing Director or manager,] [ Substituted by Act 65 of 1960, Section 116, for sub-Section (1) (w.e.f. 28.12.1960).][banker or trustee for the holders of debentures of the company,- [ Substituted by Act 65 of 1960, Section 116, for sub-Section (1) (w.e.f. 28.12.1960).]

(i)under the company; or

(ii)under any subsidiary of the company, unless the remuneration received from such subsidiary in respect of such office or place of profit is paid over to the company or its holding company:

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Union of India - Subsection

Section 314(1)(b) in The Companies Act, 1956