Section 149 (6) of companies act 2013
This query is : Resolved
07 February 2015
as per sec 149 (6) 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;
here 2% of turnover or total income means turnover or total income of company or relative
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;
here 2% of turnover or total income means turnover or total income of company or relative
18 February 2015
HERE 2% MEANS THAT HE/SHE HAS STAKE IN THE COMPANY ATLEAST 2% E.G. "A" company has capital of Rs.100000 Now The person who have Rs.2000 shares
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