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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Director's Relatives Rules Amended: Remuneration Cap Raised, New Appointment Procedures Introduced for Public and Private Companies</h1> The Ministry of Corporate Affairs issued an amendment to the Director's Relatives (Office or Place of Profit) Rules, 2003, effective upon publication in the Official Gazette. The amendment raises the remuneration threshold from 50,000 to 2,50,000. It also revises the selection and appointment procedures for a director's relative holding an office or place of profit. For listed public companies, the selection must be approved by a Selection Committee comprising mostly independent directors and an external expert. For unlisted companies, only outside experts are required, while private companies do not need independent directors or outside experts.
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