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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment Raises Threshold for Director's Relatives Holding Office in Companies; Revises Selection Process Based on Company Type</h1> The Director's Relatives (Office or Place of Profit) Amendment Rules, 2011, modifies the Director's Relatives (Office or Place of Profit) Rules, 2003. The amendment increases the monetary threshold from 50,000 to 2,50,000. It also revises the selection and appointment process 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 mainly independent directors and an external expert. For unlisted companies, independent directors are not required, but outside experts are necessary. Private companies do not require independent directors or outside experts.
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