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2 days ago · 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—.
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
THE COMPANIES ACT, 2013 _____ ARRANGEMENT OF SECTIONS _____ 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. 4. Memorandum. 5. Articles. 6. Act to override memorandum, articles, etc. 7. Incorporation of ...
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;
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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.
Mar 21, 2023 · Reasons for introducing Section 188 of the Companies Act, 2013. Section 188 of the Companies Act, 2013, was introduced to ascertain the accurate financial position of the company and to increase the level of transparency when a transaction takes place.
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—
Aug 17, 2020 · Answer: Remuneration and unsecured loans to directors are not covered under the related party transactions as per section 188 of the Companies Act, 2013. There are specific sections for both of them: Remuneration to directors (section 197 of the Act); and; Unsecured loans to directors (section 185 of the Act).
Mar 10, 2024 · Section 188 of the Companies Act, 2013 regulates Related Party Transactions (RPTs). It specifies the conditions under which a company can enter into transactions with its related parties. The section outlines requirements for approval and disclosure of such transactions to ensure transparency and prevent misuse of power. ← Previous Post.
