https://www.taxtmi.com/article/detailed?id=5483 Where a relative was appointed to an office or place of profit before the individual became a director, the exemption in subsection (1A) of Section 314 precludes the need for the special resolution otherwise required; the departmental circular extends that exemption to cases exceeding the monetary threshold in subsection (1B). Board consent by resolution under Section 297 remains required and contracts not validated within the prescribed period may be voidable at the board's option. en-us Sat, 15 Feb 2014 15:12:48 +0530 Sat, 15 Feb 2014 15:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5483 Where a relative was appointed to an office or place of profit before the individual became a director, the exemption in subsection (1A) of Section 314 precludes the need for the special resolution otherwise required; the departmental circular extends that exemption to cases exceeding the monetary threshold in subsection (1B). Board consent by resolution under Section 297 remains required and contracts not validated within the prescribed period may be voidable at the board's option. Articles Corporate Laws / IBC / SEBI Sat, 15 Feb 2014 15:12:48 +0530 https://www.taxtmi.com/article/detailed?id=5483