law: Companies Act, 2013 
  192.
  
    Restriction
  
  on non-cash transactions involving directors.
  1.      No company shall
  
  enter into an arrangement by which—
  a.     
  
    a
  
  director of the company or its holding, subsidiary or associate company or a
  
  person connected with him acquires or is to acquire assets for consideration
  
  other than cash, from the company; or
  b.    
  
    the
  
  company acquires or is to acquire assets for consideration other than cash,
  
  from such director or person so connected, unless prior approval for such
  
  arrangement is accorded by a resolution of the company in general meeting and
  
  if the director or connected person is a director of its holding company,
  
  approval under this sub-section shall also be required to be obtained by
  
  passing a resolution in general meeting of the holding company.
  1.     
  2.      The notice for
  
  approval of the resolution by the company or holding company in general meeting
  
  under sub-section (1 ) shall include the particulars of the arrangement
  
  along with the value of the assets involved in such arrangement duly calculated
  
  by a registered valuer.
  3.      Any arrangement
  
  entered into by a company or its holding company in contravention of the
  
  provisions of this section shall be voidable at the instance of the company
  
  unless—
  a.     
  
    the
  
  restitution of any money or other consideration which is the subject matter of
  
  the arrangement is no longer possible and the company has been indemnified by
  
  any other person for any loss or damage caused to it; or
  b.    
  
    any
  
  rights are acquired bona fide for value and without notice of the
  
  contravention of the provisions of this section by any other person.