Government approval for directors' relatives' appointments required when remuneration exceeds the prescribed monthly threshold under company rules. No appointment to an office or place of profit in a company shall take effect unless approved by the Central Government where the appointee is a partner or relative of a director or manager, a firm in which such director, manager or their relative is a partner, or a private company of which such director, manager or their relative is a director or member, and the appointment carries monthly remuneration exceeding Rs. 2,50,000 p.m.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government approval for directors' relatives' appointments required when remuneration exceeds the prescribed monthly threshold under company rules.
No appointment to an office or place of profit in a company shall take effect unless approved by the Central Government where the appointee is a partner or relative of a director or manager, a firm in which such director, manager or their relative is a partner, or a private company of which such director, manager or their relative is a director or member, and the appointment carries monthly remuneration exceeding Rs. 2,50,000 p.m.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
