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Will contribution made to a NGO for creating awareness on HIV aids, tentamount to Related Party Transaction, if the Chairperson of the NGO is relative of one of the Directors. If yes, in what provision. And if no, will any section of the Act apply to this contribution.

Section 188- Related party transactions.

Posted By: Khushboo 10 year(s) ago

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


    Akansha

It is not falling under related party transactions as given under sec 188. Thus, in the cited case provision of section 181 will prevail accordingly.

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