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In a private company which is a subsidiary of a foreign company. Under companies act 1956 transaction with foreign companies were exempted under the New companies act, are these exemptions still available or they are covered under RPT

Section 188- Related party transactions.

Posted By: Garima 10 year(s) ago

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Expert Ankit Singhi

Keeping in view section 2(76)(viii), the transaction will be covered under section 188

Comment
Comment (1)

Rajesh Madan

Section 2(76(viii) speaks of companies and not body corporates. Thus it ids difficult to see it will get attracted here.In fact Section 2(76) does not address this point clearly.

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