<ul><li>Office or Place of Profit (OOPOP) :  In ordinary parlance, an office or place of profit means an office or profit ...
314(1) <ul><li>The following persons (i.e., associates) other than directors *  cannot hold POP carrying total monthly rem...
314(1B) <ul><li>Special Resolution & Central Government approval (e-form 24B) is required if remuneration is Rs.50,000/- p...
Section 314 <ul><li>Director </li></ul><ul><li>POP  </li></ul><ul><li>Remuneration>Managerial </li></ul><ul><li>Remunerati...
4 Sec. 314(1)  Vs. Sec. 314(1B) 1. SR. 1. SR & CG approval. 2. Need not be prior approval. 2. Prior approval required. 3. ...
Other important points <ul><li>Exemptions from Sec 314: </li></ul><ul><ul><li>Providing services in  professional capacity...
 
Reading & Remembering - Relationship <ul><li>Audio Memory :  Memory can be improved by listening to lectures/classes or by...
STAR S  FOR PREPARATION
Tips during Exams 1 5 4 3 2 Study approach for  Theory   subjects Study approach for  Application   areas Presentation in ...
Study approach for  Theory   subjects <ul><li>Read through the topic thoroughly </li></ul><ul><li>Note down important poin...
Study approach for  Application areas <ul><li>Practice all the solved problems in Study Material, RTPs, Scanner/Compilers,...
Presentation in exams – Theory   questions <ul><li>Place yourself in the shoes of the examiner </li></ul><ul><li>The prima...
Presentation In Exams – Numerical  Problems <ul><li>Put working notes with proper references </li></ul><ul><li>Avoid overw...
5 During Exam season During examination <ul><li>Health : short break, sleep, food and water </li></ul><ul><li>Realistic Ti...
Success formula: <ul><li>Practical and logical time-table </li></ul><ul><li>Attending classes </li></ul><ul><li>Presentati...
A non-performer fails to perform Because of…..  But a performer performs Inspite of……..!!!
 
 
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Vijayaraja

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Vijayaraja

  1. 3. <ul><li>Office or Place of Profit (OOPOP) : In ordinary parlance, an office or place of profit means an office or profit or position, which brings to the person holding it some pecuniary gain or advantage or benefit. </li></ul><ul><li>Sec. 314 imposes certain restrictions on holding of OOPOP by directors or their associates in the company or its subsidiaries. </li></ul><ul><li>Sec 314(3) POP w.r.t director refers to holding of office with remuneration over & above the remuneration entitled as director & w.r.t associates refer to any fees, remuneration, perquisites etc. </li></ul>1
  2. 4. 314(1) <ul><li>The following persons (i.e., associates) other than directors * cannot hold POP carrying total monthly remuneration as prescribed (presently Rs.10,000/- p.m. or more) without Special Resolution – </li></ul><ul><ul><li>Partner or relative (as per sec.6 r/w Sch. IA) of director. </li></ul></ul><ul><ul><li>Firm in which director or relative is partner. Eg. Consultancy firms. </li></ul></ul><ul><ul><li>Private Company in which director is director or member of such Pvt. Co. </li></ul></ul><ul><ul><li>Dir/Mgr of Pvt. Co. in which director is director or member of such Pvt. Co. </li></ul></ul><ul><li>* Without SR a director cannot hold POP irrespective of remuneration. </li></ul>2
  3. 5. 314(1B) <ul><li>Special Resolution & Central Government approval (e-form 24B) is required if remuneration is Rs.50,000/- p.m or more. </li></ul><ul><li>Prior approval of company & CG is required. </li></ul><ul><li>SR is not required u/s 314(1) to hold office of MD/Manager/Banker/Debenture Trustee. However in case of 314(1B) it is required, if remuneration is Rs.50,000/- p.m or more. </li></ul><ul><li>314(1B) does not cover a director himself holding POP or POP in subsidiary company </li></ul>3
  4. 6. Section 314 <ul><li>Director </li></ul><ul><li>POP </li></ul><ul><li>Remuneration>Managerial </li></ul><ul><li>Remuneration as Director </li></ul><ul><li>Special Resolution </li></ul><ul><li>For holding POP for any amount </li></ul><ul><li>314 (1B) </li></ul><ul><li>Not Applicable to Director </li></ul><ul><li>Special Resolution u/s 314(1) </li></ul><ul><li>Not applicable to hold POP of </li></ul><ul><li>MD/ Manager/ Banker/ Debenture </li></ul><ul><li>Trustee </li></ul><ul><li>Associates </li></ul><ul><li>POP </li></ul><ul><li>Any fees/ Remuneration </li></ul><ul><li>Special Resolution </li></ul><ul><li>Only if POP with amount exceeding or </li></ul><ul><li>equal to Rs.10,000/- </li></ul><ul><li>314 (1B) </li></ul><ul><li>Applies to Associates (i.e., CG approval </li></ul><ul><li>Required if amount is greater than or equal </li></ul><ul><li>to Rs.50,000/-) </li></ul><ul><li>Special Resolution u/s 314(1) </li></ul><ul><li>Not Applicable to 4 positions. However </li></ul><ul><li>314(1B) will apply. </li></ul>
  5. 7. 4 Sec. 314(1) Vs. Sec. 314(1B) 1. SR. 1. SR & CG approval. 2. Need not be prior approval. 2. Prior approval required. 3. Starts as valid appointment. 3. Starts as a void appointment. 4.Vacates office if not approved. 4.Never considered as appointed if not approved. 5. Excludes 4 officers-MD, Manager, Banker, and Debenture Trustee. 5. Does not exclude. 6. Applies to POP in Sub. Co also. 6. Not applicable. 7. Director holding POP irrespective of remuneration. 7. ------------- 8. Partner or relative of a director. 8.(Plus Manager) Partner or relative of Director/Manager. 9. Firm in which director or relative is a partner. 9. (Plus Manager) Firm in which Dir/Mgr or relative of either is partner. 10. Pvt. co in which director is a director or member of such Pvt. Co 10. (Plus Manager & Relative) Pvt. Co. in which Dir/Mgr or relative of either is a director or member of such Pvt. Co. 11. Director/Manager of such Pvt. Co. 11. -------------- 12. Remuneration Rs. 10,000 or more for point 8-11. 12. Remuneration Rs. 50, 000 or more for point 8-10.
  6. 8. Other important points <ul><li>Exemptions from Sec 314: </li></ul><ul><ul><li>Providing services in professional capacity other than as retainer. </li></ul></ul><ul><ul><li>Where relative is first appointed & then director is appointed as director. </li></ul></ul><ul><ul><li>Directors appointed by CG u/s 408 </li></ul></ul><ul><ul><li>Directors of Subsidiary company holding POP in Holding Co. </li></ul></ul><ul><li>Sec.314 Applies to both private & public companies & to all types of directors including nominee directors except directors’ u/s 408. </li></ul><ul><li>Vacation of office : In case of contravention of Sec.314 such office shall be deemed to have been vacated from the next day of such general meeting or expiry of 3 months as the case may be. </li></ul>5
  7. 10. Reading & Remembering - Relationship <ul><li>Audio Memory : Memory can be improved by listening to lectures/classes or by hearing one's own voice, reciting a formula/accounting standards. </li></ul><ul><li>Visual Memory : Constant and repeated reading of the study materials, use of flow- charts, diagrams and graphs etc. are recommended. </li></ul><ul><li>Motor Memory : The third aspect of improving memory is by practicing the habit of writing. </li></ul>
  8. 11. STAR S FOR PREPARATION
  9. 12. Tips during Exams 1 5 4 3 2 Study approach for Theory subjects Study approach for Application areas Presentation in exams – Theory questions Presentation in exams – Numerical p roblems
  10. 13. Study approach for Theory subjects <ul><li>Read through the topic thoroughly </li></ul><ul><li>Note down important points </li></ul><ul><li>Compile your final notes </li></ul><ul><li>Revise the same topic by browsing through your final notes a day later, a week later and a fortnight later. </li></ul><ul><li>Update your notes by reading through Scanner/Compiler, RTPs, Practice Manual and Bare Act. </li></ul><ul><li>Switch to different subject when </li></ul><ul><li>bored </li></ul>1
  11. 14. Study approach for Application areas <ul><li>Practice all the solved problems in Study Material, RTPs, Scanner/Compilers, Practice Manual. </li></ul><ul><li>Nothing can be achieved without proper practice. Practice enables us : </li></ul><ul><li>to know how much time we spend; and </li></ul><ul><li>improves speed and presentation. </li></ul><ul><li>Practice a problem manually, do not audit/browse it. </li></ul><ul><li>Use ruled sheets for practice and a calculator of your own </li></ul>2
  12. 15. Presentation in exams – Theory questions <ul><li>Place yourself in the shoes of the examiner </li></ul><ul><li>The primary skills involved are Memory, Good handwriting & Logical presentation. </li></ul><ul><li>Be brief & limit your answer according to the marks applicable </li></ul><ul><li>Do not repeat same points or write irrelevant notes. </li></ul><ul><li>Give examples wherever required </li></ul><ul><li>Break the answer into Provision/Case law > Facts > Conclusion </li></ul><ul><li>Use of tables, flowcharts, and simple diagrams, without consuming much time & space </li></ul>3
  13. 16. Presentation In Exams – Numerical Problems <ul><li>Put working notes with proper references </li></ul><ul><li>Avoid overwriting/striking off </li></ul><ul><li>Provide formulae/Section reference wherever required </li></ul><ul><li>If you ignore any irrelevant point in the question – mention the reason for it </li></ul><ul><li>Do not perform any mental calculations </li></ul><ul><li>Do not make unrealistic assumptions </li></ul><ul><ul><li>In practical subjects, the conclusions are also important. </li></ul></ul>4
  14. 17. 5 During Exam season During examination <ul><li>Health : short break, sleep, food and water </li></ul><ul><li>Realistic Time Table </li></ul><ul><li>Customize the biological clock </li></ul><ul><li>Have a positive attitude </li></ul><ul><li>Adhere to the rules contained in the Instructions to Candidates </li></ul><ul><li>Avoid &quot;carry over effect&quot; of the previous examination. </li></ul><ul><li>Do not discuss the paper after the exam </li></ul><ul><li>Sit and write for all 3 hours of the exam </li></ul><ul><li>Keep a check on time </li></ul>
  15. 18. Success formula: <ul><li>Practical and logical time-table </li></ul><ul><li>Attending classes </li></ul><ul><li>Presentation in exam–diagrams, flowcharts, working notes </li></ul><ul><li>Scanner/Compiler, RTPs, Practice Manual and Bare Act </li></ul><ul><li>Compile the final notes & Practice </li></ul><ul><li>Maximum utilisation of time before and during exams </li></ul><ul><li>Positive attitude – Never Give Up & Always Be happy </li></ul>
  16. 19. A non-performer fails to perform Because of….. But a performer performs Inspite of……..!!!

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