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6 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—. (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
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 ...
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.
May 13, 2021 · related party transactions: section 188 of companies act, 2013 – company can enter into the following transactions with the related party, only after obtaining approval of board of directors: 1. sale , purchase or supply – of goods or material. 2. buying, selling or otherwise disposing of – property of any kind. 3.
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. Rules.
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;
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 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—.
