Director’s Relative (Office or Place of Profit) Rules, 2011.

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..... , the Central Government hereby makes the following Rules in supersession of the earlier Notification No. G.S.R. 89(E), dated 5-2-2003, namely:-- Short Title and Commencement 1. (1) These rules may be called Director's Relative (Office or Place of Profit) Rules, 2011. (2) They shall come into force on the date of their publication in the Official Gazette. Applicability 2. These rules shall ap .....

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..... ncluding commission on periodical basis. 4. Selection of Relatives of Directors and Directors to Hold a Place of Office/Profit:-- (a) The selection and appointment of a relative of a Director for holding office or place of profit in the company with a salary exceeding Rs. 2,50,000 per month shall be approved by adopting the same procedure applicable to non-relatives and approved by a Selection .....

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..... he exclusive employment of the company and will hold a place of profit in any other company. (b) The monetary value of all allowances and perquisites and of total remuneration package (monthly/annually) proposed to be paid to the appointee and details of the services that will be rendered by him to the company. (c) Details of shareholding pattern particularly the shareholding of the directors .....

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