What is Contract of employment with managing or whole-time directors? Section 190 of Indian Companies Act 2013

Contract of employment with managing or whole-time directors are defined under Section 190 of Indian Companies Act 2013. Provisions under this section is:

Section 190 of Indian Companies Act 2013 "Contract of employment with managing or whole-time directors"

 
(1) Every company shall keep at its registered office, -

(a) where a contract of service with a managing or whole-time director is in writing, a copy of the contract; or

(b) where such a contract is not in writing, a written memorandum setting out its terms.

(2) The copies of the contract or the memorandum kept under sub-section (1) shall be open to inspection by any member of the company without payment of fee.

Penalty for violation of Section 190 of Companies Act regarding maintenance of contract of employment with managing director or whole time director

(3) If any default is made in complying with the provisions of sub-section (1) or sub-section (2), the company shall be liable to a penalty of twenty-five thousand rupees and every officer of the company who is in default shall be liable to a penalty of five thousand rupees for each default.

(4) The provisions of this section shall not apply to a private company.

What is the rule for Company to contribute to bona fide and charitable funds, etc? What is Prohibitions and restrictions regarding political contributions? Section 181 and 182 of Indian Companies Act 2013

What is the Power of Board and other persons to make contributions to national defence fund, etc? Section 183 of Indian Companies Act 2013

What is Disclosure of interest by director? What is the law regarding Loan to directors, etc? Section 184 and 185 of Indian Companies Act 2013

Loan and investment by company? What is the meaning of Investments of company to be held in its own name? Section 186 and 187 of Indian Companies Act 2013

What is Related party transactions? What is the Register of contracts or arrangements in which directors are interested? Section 188 and 189 of Indian Companies Act 2013

What is Contract of employment with managing or whole-time directors? Section 190 of Indian Companies Act 2013

What is Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares? Section 191 of Indian Companies Act 2013

What is Restriction on non-cash transactions involving directors? What is contract by One Person Company? Section 192 and 193 of Indian Companies Act 2013

What is Prohibition on forward dealings in securities of company by director or key managerial personnel? What is Prohibition on insider trading of securities? Section 194 and 195 of Indian Companies Act 2013

What is Appointment of managing director, whole-time director or manager? Section 196 of Indian Companies Act 2013

What is Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits? Section 197 of Indian Companies Act 2013

What is Calculation of profits? Section 198 of Indian Companies Act 2013

What is Recovery of remuneration in certain cases? What is Central Government or company to fix limit with regard to remuneration? Section 199 and 200 of Indian Companies Act 2013

 

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