https://www.taxtmi.com/article/detailed?id=5561 Related party transactions under the Companies Act, 2013 require prior board approval obtained at a duly convened meeting with interested directors abstaining, and in specified circumstances also require prior members' approval by special resolution; disclosures must be made in board meeting notices, explanatory statements to general meeting notices, and the Board's Report. Specified transactions include transfers or leases of property, sale or purchase of goods, services, agency appointments, appointment to offices or places of profit, and underwriting. Ordinary course transactions on an arm's length basis are exempt; non-compliance exposes contracts to voidability and responsible directors or employees to indemnity obligations and statutory penalties. en-us Wed, 09 Apr 2014 09:49:12 +0530 Wed, 09 Apr 2014 09:49:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5561 Related party transactions under the Companies Act, 2013 require prior board approval obtained at a duly convened meeting with interested directors abstaining, and in specified circumstances also require prior members' approval by special resolution; disclosures must be made in board meeting notices, explanatory statements to general meeting notices, and the Board's Report. Specified transactions include transfers or leases of property, sale or purchase of goods, services, agency appointments, appointment to offices or places of profit, and underwriting. Ordinary course transactions on an arm's length basis are exempt; non-compliance exposes contracts to voidability and responsible directors or employees to indemnity obligations and statutory penalties. Articles Corporate Laws / IBC / SEBI Wed, 09 Apr 2014 09:49:12 +0530 https://www.taxtmi.com/article/detailed?id=5561