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[Cites 0, Cited by 1] [Section 307] [Entire Act]

Union of India - Subsection

Section 307(10) in The Companies Act, 1956

(10)For the purposes of this section-
(a)any person in accordance with whose directions or instructions the Board of Directors of a company is accustomed to act, shall be deemed to be a Director of the company; and
(b)a Director of a company shall be deemed to hold, or to have an interest or a right in or over, any shares or debentures, if a body corporate other than the company holds them or has that interest or right in or over them, and either-
(i)that body corporate or its Board of Directors is accustomed to act in accordance with his directions or instructions; or
(ii)he is entitled to exercise or control the exercise of one-third or more of the total voting power exercisable at any general meeting of that body corporate.
[* * *] [ Sub-Section (11) omitted by Act 53 of 2000, Section 151 (w.e.f. 13.12.2000).]]