Laws and Bare Acts of India at

MyNation Foundation Online Law Library

Section 348 – The Companies Act,1956

The Companies Act, 1956


(1) A company shall not pay to its managing agent, in respect of any financial year beginning at or after the commencement of this Act, by way of remuneration, whether in respect of his services as managing agent or in any other capacity, any sum in excess of ten per cent of the net profits of the company for that financial year.(2) For the purposes of this section, any payment made by way of remuneration to any of the following persons shall be deemed to be included in the remuneration of the managing agent :-(a) where the managing agent of the company is a firm, every partner in the firm;(b) where the managing agent of the company is a public company, every director of that public company;(c) where the managing agent of the company is a private company,every director and member of that private company.

(3) Nothing contained in sub-section (1) or sub-section (2) shall be deemed to affect the operation of sections 352, 354 and 356 to 360.

Previous | Next

The Companies Act, 1956

Indian Laws – Bare Acts


Leave a Reply

Your email address will not be published. Required fields are marked *

Not found ...? HOW TO WIN 498a, DV, DIVORCE; Search in Above link

All Law documents and Judgment copies
Landmark Judgments
Important SC/HC Judgements on 498A IPC
Rules and Regulations of India.
Copyright © 2021 Laws and Bare Acts of India at

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation