TMI BlogContract or arrangement with a related party.X X X X Extracts X X X X X X X X Extracts X X X X ..... or received for the contract or arrangement, if any; (e) the manner of determining the pricing and other commercial terms, both included as part of contract and not considered as part of the contract; (f) whether all factors relevant to the contract have been considered, if not, the details of factors not considered with the rationale for not considering those factors; and (g) any other information relevant or important for the Board to take a decision on the proposed transaction. (2) Where any director is interested in any contract or arrangement with a related party, such director shall not be present at the meeting during discussions on the subject matter of the resolution relating to such contract or arrangement- 1 [ (3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its specified in sub-clauses (i) to (iv) shall apply for transaction or transactions to be entered into either individually or taken together with the previous transactions during a financial year. (b) is for appointment to any office or place of profit in the company, its subsidiary company or associate company at a monthly remuneration exceeding two and half lakh rupees as mentioned in clause (f) of sub-section (1) of section 188 ; or (c) is for remuneration for underwriting the subscription of any securities or derivatives thereof, of the company exceeding one per cent. of the net worth as mentioned in clause (g) of sub-section (1) of section 188 . Explanation.- (1) The Turnover or Net Worth referred in the above sub-rules sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1) of section 188 with criteria, as mentioned below - (i) sale, purchase or supply of any goods or materials directly or through appointment of agents exceeding twenty five percent. of the annual turnover as mentioned in clause (a) and clause (e) respectively of sub-section (1) of section 188 ; (ii) selling or otherwise disposing of, or buying, property of any kind directly or through appointment of agents exceeding ten percent. of net worth as mentioned in clause (b) and clause (e) respectively of sub-section (1) of section 188 ; (iii) leasing of property of any kind exceeding ten percent. of the net worth or exceeding ten percent. of turnover as mentioned in clause (c) of sub-section (1) of section 188 ; (iv) availing or r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to take a decision on the proposed resolution. 2. Substituted vide Not. G.S.R. 971(E) - Dated 14-12-2015 before it was read as, special resolution 3. Substituted vide F. No. 1/32/2013-CL-V-Part - G.S.R. 309(E) - Dated 30-3-2017 , before it was read as, exceeding ten per cent. 4. Substituted vide F. No. 1/32/2013-CL-V-Part - G.S.R. 309(E) - Dated 30-3-2017 , before it was read as, ten per cent. of turnover 5. Omitted vide Notification No. F. No. 1/32/2013-CL-V-Part dated 18-11-2019 before it was read as or rupees one hundred crore, whichever is lower 6. Substituted vide Notification No. F. No. 1/32/2013-CL-V-Part dated 18-11-2019 before it was read as 3 [ amounting to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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