Aoc - 2 (related party transactions)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2015
Dear all Experts,
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.
Please guid me.
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.
Please guid me.
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.
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