As required by section 188 of the companies act 2013, “(1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party”
As per the provision to section 1 to section 188 “Provided that no contract or arrangement, …………, shall be entered into except with the prior approval of the company by a resolution:”
Whether we have to get the approval of board of director even if prior approval of the company by a resolution is required for entering into the contract with related party
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