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THE COMPANIES ACT, 2013 _____ ARRANGEMENT OF SECTIONS Last update-29-7-2022 _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent, commencement and application. 2. Definitions. CHAPTER II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO 3. Formation of company. 3A. Members severally liable in certain cases. 4. Memorandum. 5.
Jul 21, 2024 · Regulation 23 of LODR. ( 1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to—. ( a) sale, purchase or supply of any goods or materials;
Sep 21, 2021 · Section 188 of Companies Act 2013 talks about Related Party Transactions that are applicable to both Private and Public Limited Company. Let us dive into details of Section 188:-Table of contents: Who is a related party? What is meant by related party transactions? Identifying Related party transactions; Approvals Required
May 15, 2024 · Understand the intricacies of Related Party Transactions (RPTs) under Section 188 of the Companies Act, 2013. Learn about board approvals, shareholder consent, exemptions, and compliance essentials.
SECTION 188. RELATED PARTY TRANSACTIONS. [ Effective from 1st April, 2014] (1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to—
188. Related party transactions.— (1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to— (a) sale, purchase or supply of any goods or materials;
Substituted by the Companies (Amendment) Act,2017 :- Amendment effective from 9th february 2018 In section 188, in sub-section (3), for the words "shall be voidable at the option of the Board"
5 days ago · Companies Act, 2013. Read the complete Act: Companies Act, 2013 | 1.9 MB. Producer Company | 1.1 MB. Click here to view acts in E-Book: Companies Act, 2013. Amendments.
Mar 21, 2023 · Section 188 of the Companies Act, 2013, deals with the transactions that take place between related parties. This was introduced to create transparency and accountability between the parties to the transaction. This is applicable to both public and private limited companies.
Aug 12, 2014 · Chapter-XII Meetings of Board and Its Powers. Section 188: Related party transactions. *188. (1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to—.
