Related party transaction-section 188
This query is : Resolved
02 August 2018
Section 188 of companies act 2013,is applicable to Private limited company ?
02 August 2018
Yes. Section 188 is applicable to private companies as well. However, second proviso to Section 188 is not applicable on private companies, which provides that no member of the company shall vote on such resolution u/s188, if such member is a related party.
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