Section 188- Related Parties- Bar of Voting Operates Only At the Time of Entering Into Contract Or Arrangement

SEBI Vs R.T. Agro Private Limited (Supreme Court) Having heard learned counsel for the appellant-Securities and Exchange Board of India (‘SEBI’) and having perused the material placed on record, we find absolutely no reason to entertain this appeal. The company R. T. Exports Limited proposed to enter into a transaction with one Neelkanth Realtors Private Limited for purchase of 40,000 sq. ft. of residential space. This proposal was treated as a related party transaction and was required to be approved by the shareholders of the Company. Accordingly, a special resolution was approved by R. ...