We are private limited company, having contract / transaction with our related party which are in ordinary course of business and on arm lenghth price. We have obtained Board Approval regarding this transaction. Transaction are within limit as prescribed under section 188 of the Act.No requirement of passing Special Resolution.
Whether reporting of this transaction or contract in form AOC 2 in Directors report is manadatoty in this situation.
24 July 2015
Yes..it is mandatory to attach AOC-2 even if the transactions are exempted under 188 (i.e. on arms length price and ordinary course of business). Please check the format of AOC-2 given in the rule.
CAclubindia
