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

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....5.       (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Meetings of Board and its Powers) Rules, 2014,-       (i) After rule 6, the following rule shall be inserted, namely:-            "6A. Omnibus approval for related party transactions on annual basis.- All related party transactions shall require approval of the Audit Committee and the Audit Committee may make omnibus approval for related party transactions proposed to be entered into by the company subject to the following conditions, namely:-             &....

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....a) repetitiveness of the transactions (in past or in future);                 (b) justification for the need of omnibus approval.            (3) The Audit Committee shall satisfy itself on the need for omnibus approval for transactions of repetitive nature and that such approval is in the interest of the company.            (4) The omnibus approval shall contain or indicate the following: -                 (a) name of the related parties;        &nbsp....