Related company main public company main 2% paid up share capital public company ka hone se related party hoga na sir ?

1 answer

Ravi Staff February 13, 2019

See Highlighted Portion Below / Also See Video Link
Section 2 Sub Section (76)

(76)
 
“related party”, with reference to a company, means—

(i)
 
a director or his relative;

(ii)
 
a key managerial personnel or his relative;

(iii)
 
a firm, in which a director, manager or his relative is a partner;

(iv)
 
a private company in which a director or manager 76[or his relative] is a member or director;

(v)
 
a public company in which a director or manager is a director 77[and] holds along with his relatives, more than two per cent of its paid-up share capital;

(vi)
 
any body corporate whose Board of Directors, managing director or manager is accustomed to act in accordance with the advice, directions or instructions of a director or manager;

(vii)
 
any person on whose advice, directions or instructions a director or manager is accustomed to act:

 
 
Provided that nothing in sub-clauses (vi) and (vii) shall apply to the advice, directions or instructions given in a professional capacity;

See from 16:45
 

#1

Please login here to Submit Answer

No announcement available or all announcement expired.