It is because of the simple reason that there are many references under the Companies Act, 2013 and other applicable acts made for Indian Companies, wherein restrictions/limitation are put for relatives of any members/directors/key managerial persons/officers etc. of a Company, and therefore it is important to know the criteria of all those persons who are covered under the definition of 'Relative'.
Definition of ‘Relative’
Example (1):- Let, Ms. M is the wife of Mr. S, the Director of ABC Limited and Mr. A is the Brother of Ms. M. As per the above exclusive list, Wife’s Brother (brother-in-law) is not a criteria to be considered as a Relative. And therefore Mr. A is not the relative of Mr. S.
But if we again think it in a reverse way, then Mr. H will not be considered as a Relative of Mr. S as per the above list. Why? Because Mr. H is the Wife’s Father (father-in-law) for Mr. S.
Page last updated: 31st October 2016