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Related party transactions
Can pvt ltd co sell goods to its director's partnership firm.
Replies (5)
Yes mostly you can do it.
But make sure it is done at FMV.
Disclose the same in related party transaction.
Yes the company can do but need to follow section 184 and section 188 before the same
Disclosure is required......transaction may not result into the director benefit n should be in the interest of the company
Yeah. But ensure that if total sales exceeds 10% turnover as per latest audited balancehseet,then share holders approvalby way of special resolution required.
SEC 184 APPLIES WHEN THE DIRECTORE IS KMP FOR OTHER COMPANY OR WHEN HE HOLDS 2% OR MORE PAID UP CAPITAL OF OTHER COMPANY....INTEREST SHOULD BE DISCLOSED IN FORM-MBP-1 TO THE COMPANY.
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