The Companies Act, 2013 (the Act), though largely operationalised with effect from 1 April 2014, has thrown up various implementation challenges for corporate India, and one of them relates to provisions concerning ‘related party transactions’. The Ministry of Corporate Affairs (MCA), vide general circular no. 30/2014, dated 17 July 2014, has provided clarifications on the matters relating to related party transactions under section 188 of the Act.
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