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Board Resolution - Taking Note of transaction with Related Party and perusal of Register of Contracts in which directors are interested

Draft Board Resolution along with Preamble to take note on the transaction(s) entered with related party since the date of Last Board Meeting and perusal of Register of Contracts in which the directors are interested

Chapter: XII

Section: 189

Rule: The Companies (Meeting of Board and its Powers) Rules, 2014

Approximate Time Saving: 1 hour

Product Information

This document consist of draft Board resolution, to take note on the transaction(s) entered with related party and perusal of Register of Contractsalong with Preamble in editable word format making it handy to use and save time and efforts of a professional.

Additional Information

Section 189

(1) Every company shall keep one or more registers giving separately the particulars of all contracts or arrangements to which sub-section (2) of sections 184 or section 188 applies, in such manner and containing such particulars as may be prescribed and after entering the particulars, such register or registers shall be placed before the next meeting of the Board and  signed by all the directors present at the meeting.

(2) Every director or key managerial personnel shall, within a period of thirty days of his appointment, or relinquishment of his office, as the case may be, disclose to the company the particulars specified in sub-section (1) of section 184 relating to his concern or interest in the other associations which are required to be included in the register under that sub-section or such other information relating to himself as may be prescribed.

(3) The register referred to in sub-section (1) shall be kept at the registered office of the company and it shall be open for inspection at such office during business hours and extracts may be taken therefrom, and copies thereof as may be required by any member of the company shall be furnished by the company to such extent, in such manner, and on payment of such fees as may be prescribed.

(4) The register to be kept under this section shall also be produced at the commencement of every annual general meeting of the company and shall remain open and accessible during the continuance of the meeting to any person having the right to attend the meeting.



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Taking note of transaction with related party and perusal of register of contract under section 189