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<h1>Ministry of Corporate Affairs clarifies 'related party' definition under Companies Act, 2013, Section 2(76) for compliance ease.</h1> The Companies 1st (Removal of Difficulties) Order, 2014, issued by the Ministry of Corporate Affairs, addresses compliance issues under the Companies Act, 2013. Specifically, it clarifies the definition of a 'related party' as per clause (76) of section 2, which includes a public company where a director or manager, along with relatives, holds more than two percent of its paid-up share capital. This Order, effective upon publication in the Official Gazette, aims to resolve difficulties in applying this provision.