Office or place of profit rules updated: increased monetary ceilings alter consent and approval requirements under company law The circular notifies increased monetary thresholds that determine when relatives, partners, firms, or private companies connected to a director or manager holding an office or place of profit require the company's consent by special resolution, and when higher thresholds additionally necessitate prior Central Government approval, thereby altering the remuneration levels that trigger these approval and compliance obligations under company law.
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Provisions expressly mentioned in the judgment/order text.
Office or place of profit rules updated: increased monetary ceilings alter consent and approval requirements under company law
The circular notifies increased monetary thresholds that determine when relatives, partners, firms, or private companies connected to a director or manager holding an office or place of profit require the company's consent by special resolution, and when higher thresholds additionally necessitate prior Central Government approval, thereby altering the remuneration levels that trigger these approval and compliance obligations under company law.
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