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Chapter: Chapter - XII
Section: Section 189(1)
Rule: Rule 16(1) of the Companies (Meeting of Board and its Powers) Rules, 2014
Approximate Time Saving: 45 minutes
Rule 16 (1) Every company shall maintain one or more registers in Form MBP 4, and shall enter therein the particulars of-
(a) company or companies or bodies corporate, firms or other association of individuals, in which any director has any concern or interest, as mentioned under sub-section (1) of section 184:
Provided that the particulars of the company or companies or bodies corporate in which a director himself together with any other director holds two percent. or less of the paid-up share capital would not be required to be entered in the register;
(b) contracts or arrangements with a body corporate or firm or other entity as mentioned under sub-section (2) of section 184, in which any director is, directly or indirectly, concerned or interested; and
(c) contracts or arrangements with a related party with respect to transactions to which section 188 applies.