can u tell me in co act 2013 u/s 149 the turnover or total income is of relative or company
none of whose relatives has or had pecuniary relationship or transaction with the
company, its holding, subsidiary or associate company, or their promoters, or
directors, amounting to two per cent. or more of its gross turnover or total income or
fifty lakh rupees or such higher amount as may be prescribed, whichever is lower,
during the two immediately preceding financial years or during the current financial
year;
The given sec. is about independent director's meaning. Amonst one of its points, one point states that (1) none of whose relatives has or had pecuniary relation or transaction with the company in which the person is proposed to be appointed as director......................................................the limits given is 2% or more of its GTO / Total income / Rs. 50 lakhs or such amt as may be prescribed whichever is lower during 2 preceeding F.Y
so it is clearly evident that the limit given is of the compnay and not relative
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