https://www.taxtmi.com/caselaws?id=98400 Section 261(1) of the Companies Act, 1956 applies only where the person elected himself falls within one of its specified disqualifying categories. A power of attorney from a shareholder-company creates only a principal-agent relationship and does not, by itself, make the holder an officer, employee, or person holding an office or place of profit under the company. Nor do partnership connections or a managing-agency arrangement automatically make every connected person a managing agent for this purpose. The statutory categories must be satisfied on the person's own position and facts before a special-resolution requirement arises. en-us Fri, 19 Aug 1966 00:00:00 +0530 Fri, 20 Jan 2012 14:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98400 Section 261(1) of the Companies Act, 1956 applies only where the person elected himself falls within one of its specified disqualifying categories. A power of attorney from a shareholder-company creates only a principal-agent relationship and does not, by itself, make the holder an officer, employee, or person holding an office or place of profit under the company. Nor do partnership connections or a managing-agency arrangement automatically make every connected person a managing agent for this purpose. The statutory categories must be satisfied on the person's own position and facts before a special-resolution requirement arises. Case-Laws Companies Law Fri, 19 Aug 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98400