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    Question

    As per Section 188 of the Companies Act, 2013, if a

    related party transaction (RPT) is undertaken without prior approval, it must be ratified by shareholders within:
    A 30 days Correct Answer Incorrect Answer
    B 60 days Correct Answer Incorrect Answer
    C 90 days Correct Answer Incorrect Answer
    D 180 days Correct Answer Incorrect Answer
    E One year Correct Answer Incorrect Answer

    Solution

    Related Party Transactions without prior approval must be ratified by shareholders within 90 days; otherwise, the transaction becomes voidable.

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