Explaining the meaning of the term 'related party' in relation to a company under the provisions of the Companies Act, 2013, decide whether the following shall be treated as 'related party': (i) Kamal, a director of Deep

In accordance with the provisions of the Companies Act, 2013, as contained under section 2(76), 'related party' means: A director or his relative; A key managerial personnel or his relative; A firm, in which a director, manager or his relative is a partner. A private company in which a director or manager or his relative is a member or director. A public company in which a director or manager is a director and holds along with his relative more than 2% of its paid-up share capital. Anybody corporate whose Board of Directors, managing director or manager is accustomed to act in accordance with the advice, directions or instructions of a director or manager. Any person on whose advice, directions or instructions a director or manager is accustomed to act. Provided that nothing in point 6 and 7 shall apply to the advice, directions or instructions given in a professional capacity. Any company which is - a holding, subsidiary or an associate company of such company; or a subsidiary of a holding company to which it is also a subsidiary. Such other person as may be prescribed. Alternative I Assuming that Kamal is holding 1% of paid up capital of Deep Limited, then Kamal is related party as he is director [2(76)(i)] Alternative II Assuming that Kamal is holding 1% of paid up share capital of other public company wherein he is also a director of other public company, then such other public company is not a related party. [2(76)(v)]