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Mr. Raman, a relative of Ms. Sadhana who is indebted to the Company, wants to be appointed as an ID. Can he be so appointed?

March 27, 2020

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Mr. Mahesh and Mr. Somesh are relatives. Mr. Somesh has a pecuniary relationship with PQR Ltd. to the tune of Rs. 6 Lacs (Including remuneration of remuneration of Rs. 4 lac). His total income is 10 Lacs. Can Mr. Mahesh be appointed as an Independent Director of XYZ Ltd. (Subsidiary of PQR Ltd.)?

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