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Section 184 requires a director to provide information about disclosures his/her interest in various contracts/arrangements entered by the company. Could you please provide me definition of contract/arrangement as required by this section? also does a normal sale/purchase at arm length price do cover under this section?

Section 184- Disclosure of interest by director.

Posted By: Raj kumar gupta 10 year(s) ago

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Expert Ankit Singhi

Contract/arrangement is not defined for the purpose of section 184 and it signifies that any kind of arrangement or contract will be covered. Further, sale /purchase with related party covered under the provision of section 188 and section 184 is applicable to directors if they entered into any contracts or arrangement with the prescribed persons required to disclose the same and shall not participate in such meeting whether such arrangement is on arm’s length or not.

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