Related party transaction(rpt) , clarification required

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 November 2014 As per new provisions, for the specified transactions, if the transaction value of RPT is more than 10% of net worth , shareholders' approval is required.
What if the company has negative net worth, will then all such RPT irrespective of amount, require shareholders' approval?

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2014 Yes. As no mention of negative capital is mentioned , it is safer to take shareholders' approval .