First Notes - 19 August 2014

First Notes - 19 August 2014

The MCA amends shareholder approval norms for related party transactions

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The Companies Act, 2013, 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, vide notification dated 14 August 2014, has amended the Companies (Meetings of Board and its Powers) Rules, 2014 (Rules).

The amended Rules will be effective from the date of its publication in the Official Gazette.
 

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