11 February 2010
while appointing relative of Directors whose salary is fixed above Rs.50,000/- whether prior approval of thw Board is necessary or it can be obtained in subsequent Board Meeting?
12 February 2010
Not only prior consent of Board is required but also proir approval of members by Special Resolution & Central Govt Approval is required. Kindly refer Section 314(1B) & Director's Relativers (Office or Place of Profit) Rules, 2003for filing form for CG approval
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