Clarifications on matters relating to Related Party Transactions.

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..... ect: Clarifications on matters relating to Related Party Transactions. Sir, Government has received representations from stakeholders seeking certain clarifications on related party transactions covered under section 188 of the Companies Act, 2013. These representations have been examined and the following clarifications are given:- 1. Scope of second proviso to Section 188(1) :- Second provis .....

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..... algamations dealt with under specific provisions of the Companies Act, 1956/ Companies Act, 2013, will not attract the requirements of section 188 of the Companies Act, 2013. 3. Requirement of fresh approvals for past contracts under Section 188 :- Contracts entered into by companies, after making necessary compliances under Section 297 of the Companies Act, 1956, which already came into effect b .....

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