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Related Party Definition
Whether related party Definition includes foreign company by any manner?
Replies (4)
Yes Body corporate include foreign company ,as amendment under CAA 2017, if it's classified as related party u/s 2(76) read with IND AS 24 in case of Listed Entities
But it will not be covered under iv and v clause of definition. Right?
If Mr. A is a director in One Foreign company which is private in nature ,now whether sale/ purchase of goods which is not at Arms length basis will it be allowed without shareholder's or board approval ? decode it you will get your answer !
So with this interpretation we can conclude that clause iv and v includes foreign company?
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