Office of Profit restrictions require approval and detailed disclosures for relatives' appointments, including selection parity and independent-majority committee oversight. Rule 4 requires an undertaking that the appointee will be in exclusive employment and not hold another place of profit, detailed disclosure of proposed remuneration and services, shareholding patterns, qualifications and comparable pay data, a list of highly remunerated employees, and particulars of all relatives of directors employed and their remuneration measured as a percentage of profits under section 198.
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.
Office of Profit restrictions require approval and detailed disclosures for relatives' appointments, including selection parity and independent-majority committee oversight.
Rule 4 requires an undertaking that the appointee will be in exclusive employment and not hold another place of profit, detailed disclosure of proposed remuneration and services, shareholding patterns, qualifications and comparable pay data, a list of highly remunerated employees, and particulars of all relatives of directors employed and their remuneration measured as a percentage of profits under section 198.
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