Related party transaction
This query is : Open
29 December 2015
Dear Sir/Madame,
Please clarify me regarding the following points for a private limited company.
1. Does Managerial Remuneration given to Directors covers under related party transaction
2. Salary paid to relatives of a Director is a related party transaction or not.
3.As per the provisions the interested directors can not vote on meetings where the decisions are taken regarding the contracts where such directors are interested. If all the directors are interested parties to the contract how the contract will be entered and decisions regarding it will be taken.? If it is a public company what is the procedure.
Please clarify me regarding the following points for a private limited company.
1. Does Managerial Remuneration given to Directors covers under related party transaction
2. Salary paid to relatives of a Director is a related party transaction or not.
3.As per the provisions the interested directors can not vote on meetings where the decisions are taken regarding the contracts where such directors are interested. If all the directors are interested parties to the contract how the contract will be entered and decisions regarding it will be taken.? If it is a public company what is the procedure.
29 December 2015
Managerial remuneration does not come under the purview of 188. However, salary to relative is related party transaction.
01 June 2016
Please answer my question
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