Dear Sir,
If a person is providing professional service to a pvt company (e.g. ROC Compliance's) and now the company desires to appoint him as a director. Can Company do so? or it falls under related party transactions?
Thanks in advance.
Dear Sir,
If a person is providing professional service to a pvt company (e.g. ROC Compliance's) and now the company desires to appoint him as a director. Can Company do so? or it falls under related party transactions?
Thanks in advance.
Yes co. can appoint him as director.
For related party transactions, those transaction which are at arms length price can executed.
A person providing professional service will not be a related party unless he falls in any of the clauses specified u/s 2(76).
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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Aggarwal Sarawagi and Co
New Delhi
CA
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CAclubindia
