Officer status arises where an employee has financial control; such classification triggers statutory disclosure duties. Employees vested with powers of financial control over one or more operational fields are to be treated as Officer under clause (30) and section 2(30). Such classification applies to roles like chief accountant, works manager, sales manager, purchase manager and estate manager, making them subject to Part I of Schedule VI disclosure obligations concerning debts, loans or advances.
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.
Officer status arises where an employee has financial control; such classification triggers statutory disclosure duties.
Employees vested with powers of financial control over one or more operational fields are to be treated as Officer under clause (30) and section 2(30). Such classification applies to roles like chief accountant, works manager, sales manager, purchase manager and estate manager, making them subject to Part I of Schedule VI disclosure obligations concerning debts, loans or advances.
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