Sale of asset to director of company

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(Querist)
31 December 2013 What are the guidelines to sale of asset to proprietorship of the director of company??
Is it possible to do such transaction?? Any resolution is required as per Company law??

Thanks in advance
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 December 2013 Refer AS 18 its a related party transaction.
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