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appointment of relative of Director

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Querist : Anonymous

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Querist : Anonymous (Querist)
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?
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Jagruti (CS)

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Jagruti (CS) (Expert)
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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