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Issue ID : 5135
- 0 -

Section-301

Date 02 Jan 2013
Replies1 Answers
Views 1091 Views
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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?

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Replied on Dec 27, 2014
1.

Yes, Section 301 of the Companies Act will apply here under Section 299 of the Companies Act, 1956.

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