Related party definition amendment clarifies conjunctive holding requirement, altering 'or' to 'and' for applicability in companies law The order amends the definition of related party by substituting the word 'and holds' for 'or holds' in sub clause (v) of clause (76) of section 2, clarifying that the sub clause requires a conjunctive holding; the change is made under the power to remove difficulties and takes effect on publication in the Official Gazette.
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Related party definition amendment clarifies conjunctive holding requirement, altering 'or' to 'and' for applicability in companies law
The order amends the definition of related party by substituting the word "and holds" for "or holds" in sub clause (v) of clause (76) of section 2, clarifying that the sub clause requires a conjunctive holding; the change is made under the power to remove difficulties and takes effect on publication in the Official Gazette.
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