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. https://www.corpzo.com/section-188-related-party-transactions-a-complete-compliance-guide