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 ... Summary
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.