Scope of rule 86-Determination of shareholding of Director.

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Full Text of the Document

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....p irrespective of the fact that the terms of employment permit him to do so and there is time to spare. 2. This is likely to convey that the director has the option to take up an employment in addition to the one of in which he is a whole-time bonafide employer. The correct position under the law is that a director can be a whole-time bonafide employee only if, under the terms of his employment n....