Non-cash Transactions with Directors

Reporting requirement

Report whether the company has entered into any non-cash transactions with directors or persons connected with them, and if so, whether provisions of Section 192 of Companies Act 2013 have been complied with.

What to verify before signing

• Inquiry of management; review of board minutes for any non-cash arrangements
• Section 192 — prior shareholder approval and valuation by Registered Valuer
• Disclosure in FS notes

Sample observation — applicable

In our opinion, the Company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, the provisions of section 192 of Companies Act 2013 are not applicable.

Related standards