Online Chartered25 Jan, 2023Business
Related party transactions (RPTs) are an integral part of any business, as companies often engage in transactions with parties that have some sort of relationship with the company. The Companies Act 2013 in India defines related parties as directors, key managerial personnel, and their relatives, companies in which a director or key managerial personnel or their relatives have a substantial interest, and firms and other entities in which a director is a partner or a member. These transactions can be in the form of sales, purchases, services, loans, or any other type of agreement.
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