https://www.taxtmi.com/acts?id=17489 Restriction on non-cash transactions involving directors prohibits a company from entering arrangements where a director or a person connected with a director and the company exchange assets for consideration other than cash without prior approval by a resolution in the general meeting; holding company approval is also required if the connected person is a director of the holding company. The meeting notice must include arrangement particulars and asset values certified by a registered valuer. Contravening arrangements are voidable by the company, except where restitution is impossible with indemnification or where rights have been acquired bona fide for value without notice. en-us Sat, 02 Mar 2013 13:15:46 +0530 Wed, 10 Dec 2025 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17489 Restriction on non-cash transactions involving directors prohibits a company from entering arrangements where a director or a person connected with a director and the company exchange assets for consideration other than cash without prior approval by a resolution in the general meeting; holding company approval is also required if the connected person is a director of the holding company. The meeting notice must include arrangement particulars and asset values certified by a registered valuer. Contravening arrangements are voidable by the company, except where restitution is impossible with indemnification or where rights have been acquired bona fide for value without notice. Act-Rules Companies Law Sat, 02 Mar 2013 13:15:46 +0530 https://www.taxtmi.com/acts?id=17489