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Sec 188 of company act.

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 May 2016 Dear Experts,
Weather A private com. Can made the
sale & purchase more than its paid up capital,

Also let me know will sec 188 be applicable
on private company also if yes pls explain
According to this said sec what the condition
Is pertain to transaction for pvt. Ltd,

Thanx & Regard
Mohit bansal
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
10 May 2016 Yes,
Section 188 will come in picture only when the sale or purchase will be made with the related parties. In that case required approval from board / shareholders will need to be taken in advance.
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