Section 60(ii) in The Companies (Amendment) Act, 2017
(ii)in sub-section (5), for clause (b), the following clause shall be substituted, namely:—"(b) shall apply to any contract or arrangement entered into or to be entered into between two companies or between one or more companies and one or more bodies corporate where any of the directors of the one company or body corporate or two or more of them together holds or hold not more than two percent. of the paid-up share capital in the other company or the body corporate.".
