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of <h1>Regulations on Appointing Directors' Relatives to Profitable Positions Under Companies Act Section 314(1B) and 642(1)(b)</h1> The Director's Relatives (Office or Place of Profit) Rules, 2003, were established by the Central Government under the authority of section 642(1)(b) and section 314(1B) of the Companies Act, 1956. These rules are designated to regulate the appointment of relatives of company directors to positions that provide financial benefits. The rules became effective upon their publication in the Official Gazette.
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