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Related party transaction-property

Companies Act 2013 498 views 2 replies
In my one of company director given his property to the company as purpose change of address of the company in local limits of the city with board of directors approval in the meeting.
 
The both directors are brother and both are interested in the transaction, how we comply the Section 188 and section 12 of the companies act, 2013.
 

No any rent agreement made for the use of property by the company.

Replies (2)

Director  can just give  NOC for using his property as registered office of the company.  If  no rent is charged to the company, Sec.188 and the question  of director being interested in the contract or arrangement will not arise.

 

Thank you sir for clear my doubts.

 

Regards

Dhaval


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