A financial institution nominated Mr. Kamal as a director on the board of Zenith Textiles due to a major loan agreement. Does this nomination automatically make Zenith Textiles an 'associated company' of the financial institution?

Correct answer: C) No, a person's directorship nominated by a financial institution is specifically excluded when determining associated status.

Explanation

The law provides specific exceptions: directorships resulting from nominations by creditors (like financial institutions) or the government do not make the entities associated companies.