Directorship classification: membership of UTI trustees and SBI central board treated as directors for section 303 purposes. Members occupying central governing positions, such as boards of trustees constituted by statute and the Central Board of Directors of the State Bank, are to be regarded as directors for the purposes of section 303 under the inclusive definition of a person occupying the position of director by whatever name. Conversely, membership of local boards that do not constitute the central governing body is not to be treated as a directorship for section 303.
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.
Directorship classification: membership of UTI trustees and SBI central board treated as directors for section 303 purposes.
Members occupying central governing positions, such as boards of trustees constituted by statute and the Central Board of Directors of the State Bank, are to be regarded as directors for the purposes of section 303 under the inclusive definition of a person occupying the position of director by whatever name. Conversely, membership of local boards that do not constitute the central governing body is not to be treated as a directorship for section 303.
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