Definition of ‘Close relative’ under the Indian Companies Act, 1956/2013
U/s 2(77) ‘‘relative’’, with reference to any person, means anyone who is related to another, if—(i) they are members of a Hindu Undivided Family;(ii) they are husband and wife; or(iii) one person is related to the other in such manner as may be prescribed.
The term ‘Close relative’ means a relative as defined under the Companies Act, 1956/2013:
Act of 1956
Act of 2013
U/s 6: MEANING OF “RELATIVE”A person shall be deemed to be a relative of another, if, and only if,(a) they are members of a Hindu undivided family ; or(b) they are husband and wife ; or(c) the one is related to the other in the manner indicated in Schedule IA.
U/s 2(77) ‘‘relative’’, with reference to any person, means anyone who is related to another, if—(i) they are members of a Hindu Undivided Family;(ii) they are husband and wife; or(iii) one person is related to the other in such manner as may be prescribed.
