Companies (Meetings of Board and its Powers) Amendment Rules, 2015.

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.... 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Meetings of Board and its Powers) Rules, 2014, namely:- 1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015. (2) They shall come into force on the date of their publication in the Official Gazette. 2. I....

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....lowed; (c) extent and manner of disclosures to be made to the Audit Committee at the time of seeking omnibus approval; (d) review, at such intervals as the Audit Committee may deem fit, related party transaction entered into by the company pursuant to each of the omnibus approval made; (e) transactions which cannot be subject to the omnibus approval by the Audit Committee. (2) The Audit Co....

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....t Committee to take a decision on the proposed transaction: Provided that where the need for related party transaction cannot be foreseen and aforesaid details are not available, audit committee may make omnibus approval for such transactions subject to their value not exceeding rupees one crore per transaction. (5) Omnibus approval shall be valid for a period not exceeding one financial year ....