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Hello can some one clarify on the contract / agreement which are executed with the related parties prior to applicability of Companies Act 2013 that is Apr 01 2014, is board approval or share holders approval is required to be taken under the new Companies Act 2013, kindly clarify.

Section 188- Related party transactions.

Posted By: Ujwal accounts 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

No approval is required

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    reena

IF THEY ARE NOT AS PER NEW LAW THEN IT WILL BE BETTER TO TAKE APPROVAL UNDER NEW LAW

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