Deemed Public Company Private limited company becoming public limited company by virtue of sub section (1A) Applicability of sections 198, 269, 317 and 370

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..... limited company by virtue of sub‑section (1A) ‑ Applicability of sections 198, 269, 317 and 370 Queries : 1. Consequent upon becoming a deemed public limited company under the amended section 43A, will it be necessary for the company to get an approval from the Central Government for the continuation of the appointment of its managing whole‑time directors already in position, o .....

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..... ed under section 43A to apply for approval for minimum remuneration to be paid to their managing/whole‑time directors ? If so, what is the time limit within which such applications should be submitted by such companies after their coming within the purview of section 43A ? 4. What would be the position of loans and advances already given in excess of the limits laid down in section 370(1) i .....

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..... y. 3. In the event of inadequacy of profit, the company can pay the minimum remuneration after obtaining the approval of the Central Government under section 198(3) and the application for the purpose has to be made within a reasonable time from the date of the company becoming a public company under section 43A. 4. On the principle underlying the provisions of section 370(5) the company will ha .....

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