https://www.taxtmi.com/caselaws?id=97445 Remuneration paid to a director for technical or other non-directorial services is treated separately from remuneration as director, so it is not counted under sections 309 and 198 of the Companies Act, 1956. Those provisions were read as governing director or managerial remuneration only, and the limits applied prospectively. By contrast, section 348 was construed broadly to cap what a managing agent may receive in any capacity; payment to a partner of the managing-agent firm as technical adviser was therefore included in the statutory ceiling. The restriction operated from the beginning of the next financial year for the company, namely 1 January 1957. en-us Wed, 10 Oct 1956 00:00:00 +0530 Mon, 16 Jan 2012 17:13:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97445 Remuneration paid to a director for technical or other non-directorial services is treated separately from remuneration as director, so it is not counted under sections 309 and 198 of the Companies Act, 1956. Those provisions were read as governing director or managerial remuneration only, and the limits applied prospectively. By contrast, section 348 was construed broadly to cap what a managing agent may receive in any capacity; payment to a partner of the managing-agent firm as technical adviser was therefore included in the statutory ceiling. The restriction operated from the beginning of the next financial year for the company, namely 1 January 1957. Case-Laws Companies Law Wed, 10 Oct 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97445