Section 314 of the Companies Act imposes restrictions on directors and their associates holding offices or places of profit in the company or its subsidiaries. It requires a special resolution for associates to hold positions with over Rs. 10,000 monthly remuneration or for directors to hold any position. Section 314(1B) additionally requires government approval for positions with over Rs. 50,000 monthly remuneration. There are some exemptions under section 314 and it applies to both private and public companies.