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A director in a private company is also a director in another private company (common directorship) and he disclosed his interest pursuant to Sec.184(1) of CA2013. Now for any transactions(supply agreement) entered into by this private company with that other private company the transactios of which are in the ordinary course of business and on arm's length basis whether such transactions are still to be approved by the Board and entered in the Register of Contract considering the exemptions now available to the private company.

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Posted By: Vijay shankar 8 year(s) ago

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Divesh Goyal

For General supply agreement, if company has authorized any director or employee to sing the agreement then no need to take up such matter in the BM. But if such matter taken up in the Board Meeting then as per exemption Notification Interested director can participate in the Meeting and vote but will not count for the purpose of quorum.

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Expert Ankit Singhi

sorry, it is not necessary

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Expert Ankit Singhi

it is necessary to take the approval of such transactions

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Pramod Prabhudesai
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