If Private Limited Company has 2 Directors & 1 is interested in related party transaction then how the company will pass the resolution in Board meeting without quorum because related rule 15 says that interested director can not take part in passing the resolution.....?????
If the transaction is in ordinary course of business and on arms length basis, Sec.188 will not apply. In other cases you can get approval of general meeting.
| Originally posted by : P C Agrawal | ||
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If the transaction is in ordinary course of business and on arms length basis, Sec.188 will not apply. In other cases you can get approval of general meeting. |
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Agree.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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