Experts
Wife of Manging Director is appointed as Vice principal in school run by company. salary to the Wife of MD is paid from bank accoount of company and expense is debited in the company book as schoool expense. Wheather section 301 of company act apply here or not?.
Which section will applly ,299 or ,297?
Applicability of Section 301 of the Companies Act confirmed for Managing Director's wife as Vice Principal in company school. A query was raised regarding the applicability of Section 301 of the Companies Act to a situation where the wife of a Managing Director is appointed as Vice Principal in a school operated by the company, with her salary paid from the company's bank account and recorded as a school expense. An expert responded, confirming that Section 301 is applicable, referencing Section 299 of the Companies Act, 1956. (AI Summary)
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