Section 188(1) Exemption: Voting Restrictions Lifted for Companies with 90% Members as Relatives of Promoters.

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Full Text of the Document

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....Related party transactions - restriction on vote - second proviso to section 188 (1) shall not apply to a company in which ninety per cent. or more members in numbers are relatives of promoters or related parties. - Section 188(1) of the Companies Act, 2013....