For the purposes of sub-clause (ix) of clause (76) of section 2 of the Act, a director 1[other than an independent director] or key managerial personnel of the holding company or his relative with reference to a company, shall be deemed to be a related party.
Amendment
1.Inserted by Notification Companies (Specification of definitions details) Amendment Rule, 2014 Dated 17th July, 2014.V