The MCA, on November 18, 2019, notified the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 ("Amendment Rules") (accessible here). The aforesaid rules revised the following thresholds provided under Rule 15 of the Companies (Meetings of Board and its Powers) Rules, 2014 ("Rules") relating to related party transactions. In terms of Section 188 of the Companies Act, 2013 ("Companies Act"), where a company proposes to enter into a related party transaction and the monetary value of such transaction exceeds certain thresholds specified in the Rules, then the company concerned is required to obtain prior approval from its shareholders for effecting such transaction. The aforesaid thresholds have been amended vide the Amendment Rules as follows:
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