Related party transaction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2015
XYZ Pvt ltd. forms a JV with ABC Pvt. Ltd. naming it as XYZ-ABC JV & Co. for a contract. XYZ Pvt. Ltd. holds 25% (therefore it will get covered under associate concern). Now JV Co. wants to procure some services from XYZ Pvt. Ltd. as well as ABC Pvt. Ltd. due to Related Party transaction clause under Companies Act 2013. XYZ Pvt. Ltd. cannot pass resolution for providing service as it is a related party (because it is an associate concern). So how can the transaction be conducted between JV & XYZ Pvt. Ltd.
Read more at: https://www.caclubindia.com/forum/related-party-transaction-328179.asp
Read more at: https://www.caclubindia.com/forum/related-party-transaction-328179.asp
24 May 2015
Pass the resolution and conduct the transaction.
See the link.
https://www.mondaq.com/india/x/346678/Contract+Law/Related+Party+Transactions+Companies+Act+2013
See the link.
https://www.mondaq.com/india/x/346678/Contract+Law/Related+Party+Transactions+Companies+Act+2013
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