Dear All,
Section 196(4) and 196(5) not applicable on Private Company. But section 117(3) (c) applicable on Private Company as well in case there is variation of remuneration of MD.
So, whether MGT-14 is applicable on Private Company in such case OR the Company can abstain itself from filing form and defend it by stating sub section (4) and sub section (5) of section 196 is not applicable, therefore, MGT-14 is not required to be filed ?
Opinions are invited in this regard please.
