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Resolution u/s 188 of companies act, 2013

RISHABH ARORA (Company Secretary in Practice ) (194 Points)

29 March 2014

Please provide resolution U/s 188 of Companies Act, i.e. Related Party Transactions, Board resolution for Related Party Transactions under Arm Length Basis.

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3 Replies

Neha Jain (Asst CS) (37 Points)
Replied 24 June 2014

To consider and if thought fit, to pass with or without modification, the following as a Special Resolution:

“RESOLVED THAT pursuant to the provisions of Section 188 and other applicable provisions of the Companies Act, 2013, if any consent of the Company be and is hereby accorded for entering into related party transactions by the Company with effect from 1st April, 2014 upto the maximum per annum amounts as appended below:

(Rs. In Crores)

MAXIMUM VALUE OF CONTRACT/ TRANSACTION (PER ANNUM) WEF 1ST APRIL 2014
	Transactions defined u/s 188(1) of Companies Act, 2013				Others
	Sales, purchase or supply of any goods, materials	Selling or otherwise disposing of, or buying, property of any kind	Leasing of property of any kind	Availing or rendering of any services, Appointment of any agent for purchase or sale of goods, materials, services or property	Donation (for CSR- Corporate Social Responsibility initiatives of the Company)
Name of Related Parties:-
COMPANIES:
	On actual basis. Exempted being in Ordinary course of Business and on arm’s length basis.
TRUST/ FIRM/ SOCIETY/ LLP

SUBSIDIARIES/ JOINT VENTURE

DIRECTORS /KMPs / RELATIVES OF DIRECTORS AND KMPs / OTHERS FIRMS AND COMPANIES in which directors have some interest as per the provisions of section 2(76) of the Companies Act, 2013

Resolved further that to give effect to this resolution the Board of Directors and / or any committee thereof be and is hereby authorised to settle any question, difficulty, or doubt that may arise with regard to giving effect to the above Resolution and to do all acts, deeds, things as may be necessary, proper desirable and to finalise any documents and writings related thereto.”