Omnibus approval for related party transactions now permitted, subject to prescribed conditions, under amended audit committee powers. An inserted proviso to section 177(4)(iv) authorises the Audit Committee to make omnibus approval for related party transactions proposed to be entered ... Summary
Omnibus approval for related party transactions now permitted, subject to prescribed conditions, under amended audit committee powers.
An inserted proviso to section 177(4)(iv) authorises the Audit Committee to make omnibus approval for related party transactions proposed to be entered into by the company, provided such omnibus approvals comply with conditions to be prescribed.
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