Office _share

Asha (Querist) 21 September 2012 This query is : Resolved
Dear all, I am faced with the following fact situation: A and B are directors of a private company, XYZ. A, B, and C (who is the brother of B) enter into employment contracts with XYZ under which, each one is given a designation and is entitled to a fixed remuneration. Will the employment of A, B and C be affected by Section 314, i.e. do I need to get special resolution/ Central govt approval for A, B or C?

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Prithvi Raj Sikka (Expert) 12 July 2014
Employment is different with directors of company. as per your query you have mentioned that A and B are Directors of XYZ but C is nor director but he entered in contract with XYZ then how the remuneration fixed for each while employment contract and company have separate entity.

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