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whether any related party transactions entered before 01/04/2014 will attract the provisions of Section 188 of the Companies act, 2014

Section 188- Related party transactions.

Posted By: Revati sathe 9 year(s) ago

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Akansha

No, such transactions will not attract the provision of sec 188 of the Act and it can be implemented as per old Act as per circular no. 32/2014 provided if the resolution in the cited was passed during 1st September 2013 to 31st March 2014 and its implementation actually commenced before 1st April, 2014 . Further, such resolution is valid for 1 year under the old Act from the date of passing the resolution or 6 months from the commencement of the provision of the Act whichever is later.

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