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Introducing the βIn Favour Ofβ filter in Case Laws.
Try it now in Case Laws β


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<h1>Scope of related parties widened to holding company directors, KMPs and relatives under Section 2(76)(ix) Companies Act</h1> A director, other than an independent director, or a key managerial personnel of a holding company, and their relatives, are deemed to be related parties in relation to a company for the purposes of sub-clause (ix) of clause (76) of section 2 of the Companies Act. This deeming provision extends the scope of 'related party' beyond the company's own officers to include specified individuals connected through the corporate group structure, thereby affecting compliance, disclosure, and approval requirements for related party transactions.