Dear All,
We are private limited Company and wholly owned subsidiary of Japanese Company. We are working in capacity of contract manufacturer for our parent company.
Our entire export is routed through parent company and its subsidiaries spread world wide. This transaction are carried on the basis of sale purchase agreement eneterd in 2010.
As per provision of section 188 (2) every contract or arrangement enetered into with related party has to be reffered in the Board Report.
Recent exemption dated 5th June 2015,has exempted transaction with holding and its subsidiary company from the purview of related party transaction.
Now my query is do i need to provide details of these transaction in Board Report ??
CAclubindia
