Rules For Wholly Owned Subsidiaries Calamitous: Shardul Shroff
  • Prabha Hedge
  • Oct 22 2013

October 22: Most Indian companies have 50-100 related party contracts in a year and now the clearance will come from the board not the MD, says Shardul Shroff, Managing Partner at Amarchand Mangaldas. This means minority shareholders will end up deciding on key matters, he says. The government needs to modify the rigour with which the Companies Act will be implemented, he adds.