Section 188

This query is : Resolved

RACHANA DAGA (Querist)
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25 June 2015 As per new amendment in may 2015 related party transaction u/s 188 by members has to be approved by resolution so is Private Company required to file ordinary resolution with ROC ?

Shashikant Sharma

Shashikant Sharma (Expert)
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26 June 2015 A copy of resolution specified in Section 117(3) of the Companies Act, 2013 requires ROC filing in Form MGT-14. This section specifies special resolution, other resolution and certain Board resolutions as provided in 179(3).

MCA has exempted private companies form item specified in 179(3).

Ordinary resolution passed under section 188(1) will not require ROC filing in Form MGT-14 for both private and public companies.