Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 192 of Companies Bill 2011: Restricts Non-Cash Deals Involving Directors Without Prior General Meeting Approval.</h1> Clause 192 of the Companies Bill, 2011, restricts non-cash transactions involving directors. It prohibits companies from engaging in arrangements where a director or connected person acquires assets from the company, or vice versa, without prior approval via a resolution in a general meeting. If the director is part of a holding company, approval must also be obtained from the holding company's general meeting. The notice for approval must detail the arrangement and asset values, assessed by a registered valuer. Arrangements violating this section are voidable unless restitution is impossible, indemnification occurs, or rights are acquired bona fide without notice of contravention.
TaxTMI 
TaxTMI 
