The managing Director of Arihant Ltd has paid remuneration of Rs. 25,00,000 during the year. Co has availed the loan from finanial institute, the agreement of which provide that company is required to pay 11% profit to it in lieu of interest of loan. Accordingly company has paid interest. State with reason whether in your opinion, BOD is require to disclose fact under the head "Particulars relating to employess" under section 217 (2A) in its Board report ? if not, why ? Would your answer be different if financial institue has appointed nominee director on the board of Arihant Ltd ?
Sunday, October 28, 2007
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