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Related party transaction-section 188

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(Querist)
02 August 2018 Section 188 of companies act 2013,is applicable to Private limited company ?
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CS Peer mehboob

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CS Peer mehboob (Expert)
02 August 2018 Yes. Section 188 is applicable to private companies as well. However, second proviso to Section 188 is not applicable on private companies, which provides that no member of the company shall vote on such resolution u/s188, if such member is a related party.
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