According to M.P. Vijakumar the scope of AS 18 and section 300 are quite different. There are some relations which are covered by section 300 and not covered by AS 18 and also there are certain relations which are covered by AS 18 and not covered by section 300.
An example of situation 1 is
A private company in which sister's husband is a director. This is covered under section 300 since the relative definition in schedule 1A is quite broad. However about transaction is not required to be disclose under AS 18.
Can anyone give me the example of transaction covered by situation 2.
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