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Can a resolution be passed by Board of Directors of a private Company for one time approval of RPT transactions up to a certain limit or else the Board is required to approve every single transactions that occur in the due course.????

Section 188- Related party transactions.

Posted By: Suresh 9 year(s) ago

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


    Divesh Goyal

As per Section 188 Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party. That Means Company cant pass one time resolution for RPT Transaction, its need resolution each and every time. But as mentioned by shivam if RPT is on arm length price or in ordinary course of business then there is no need to pass any resolution.

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    Shivam Singhal

required to approve every single transactions that occur in the due course but not required to pass BR, if transaction is in the ordinary course of business & on arms length price basis & If required to pass BR then Interested director may participate & vote at Board meeting after giving disclosure under section 184 of Companies Act, 2013

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