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of <h1>Clarifications on Related Party Transactions u/s 188 of Companies Act: Voting, Restructuring, and Compliance Details.</h1> The circular provides clarifications on related party transactions under Section 188 of the Companies Act, 2013. It specifies that the term 'related party' in the context of voting on special resolutions refers only to those involved in the contract or arrangement under consideration. It also states that Section 188 does not apply to corporate restructuring activities like amalgamations, which are covered by other provisions. Additionally, contracts compliant with Section 297 of the Companies Act, 1956, before Section 188's commencement, do not need fresh approval unless modified after April 1, 2014. These clarifications were issued with the competent authority's approval.
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