Ask a company secretary what makes board meetings long, and compliance with related party transactions is often one of the entries on the list. That is, until a normal transaction with a promoter’s relative or a group company gets flagged and everyone is forced to check whether Section 188 was applicable in the first place. This is where the real importance of this issue comes in.grand s https://www.corpzo.com/section-188-related-party-transactions-a-complete-compliance-guide