Related party definition expanded to include relatives in managerial sub clause, clarifying scope under Companies Act Definition of related party is amended to insert 'or his relative' after 'manager' in sub clause (iv) of clause (76) of section 2, correcting an omission and aligning that sub clause with the other sub clauses of the definition. The amendment is made under the Central Government's power to remove difficulties and takes effect on publication in the Official Gazette.
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Related party definition expanded to include relatives in managerial sub clause, clarifying scope under Companies Act
Definition of related party is amended to insert "or his relative" after "manager" in sub clause (iv) of clause (76) of section 2, correcting an omission and aligning that sub clause with the other sub clauses of the definition. The amendment is made under the Central Government's power to remove difficulties and takes effect on publication in the Official Gazette.
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