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Section 161(3) speaks about the Appointment of Nominee Directors. The Section read as "Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company." My query is what does the term "...................................... by virtue of its shareholding in a Government Company" implies???????

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Posted By: Dipika 10 year(s) ago

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Expert Ankit Singhi

Means director appointed by central and statement government by virtue of their shareholding in the government company can also be treated as nominee director

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