law: Companies Act, 2013 
  193.
  
    Contract
  
  by One Person Company. 
  1.      Where One Person
  
  Company limited by shares or by guarantee enters into a contract with the sole
  
  member of the company who is also the director of the company, the company
  
  shall, unless the contract is in writing, ensure that the terms of the contract
  
  or offer are contained in a memorandum or are recorded in the minutes of the
  
  first meeting of the Board of Directors of the company held next after entering
  
  into contract:
  Provided
  
  that nothing in this sub-section shall apply to contracts entered into by the
  
  company in the ordinary course of its business.
  2.      The company shall
  
  inform the Registrar about every contract entered into by the company and
  
  recorded in the minutes of the meeting of its Board of Directors under sub-section
  
  (1 ) within a period of fifteen days of the date of approval by the Board
  
  of Directors.