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Company law u/s 188

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 May 2017 which type resolution required under CA,2013 for related party transaction u/s 188 (SR or OR)
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 May 2017 Special resolution. Please see details in rule 15 (3) of Companies(Meetings of Board and its Powers) Rules,2014
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 May 2017 Sir I agree with you but i hv a dout that I read in a book :- The resolution contemplated by first proviso was a SR But w.e.f. May, 2015 it is ordinary resolution.
is this right
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 May 2017 Yes, u are right, per clause 16 of THE COMPANIES (AMENDMENT) ACT, 2015, special resolution is substituted as 'resolution'.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 May 2017 ok, thank you Sir for your positive reply.
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