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        Clause 63 - Amendment of section 188.

        Companies (Amendment) Bill, 2017

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        Related-party exemption: companies dominated by promoters' relatives excluded from proviso; shareholders gain voidance power over transactions. The amendment excludes companies dominated by promoters' relatives or related parties from the operation of the second proviso, and it expands the voidability remedy by making certain transactions voidable at the option of either the Board or the shareholders.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Related-party exemption: companies dominated by promoters' relatives excluded from proviso; shareholders gain voidance power over transactions.

                                The amendment excludes companies dominated by promoters' relatives or related parties from the operation of the second proviso, and it expands the voidability remedy by making certain transactions voidable at the option of either the Board or the shareholders.


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