Section 60 - Amendment of section 184 - Companies (Amendment) Act, 2017

Amendment of section 184 60. In section 184 of the principal Act,- (i) in sub-section (4), the words shall not be less than fifty thousand rupees but which shall be omitted; (ii) in sub-section (5), for clause (b), the following clause shall be substituted, namely:- (b) shall apply to any contract or arrangement entered into or to be entered into between two companies or between one or more companies and one or more bodies corporate where any of the directors of the one company or body corporate or two or more of them together holds or hold not more than two per cent. of the paid-up share capital in the other company or the body corporate. .