(1) Any agreement or arrangement between the following companies to directly or indirectly provide loans or other types of financial support, guarantee payment of any liability or any other type of security to another company, or other than regular business transactions. If there is any transaction, it will be considered as a transaction between affiliated companies:-
(a) a company and its parent company,
(b) any company and other subsidiaries of its parent company,
(c) a subsidiary company of a company and the parent company of such company,
(d) Subsidiary companies of any company and other subsidiary companies of the main company.
(2) If there is a transaction as per sub-section (1), the affiliated company shall give notice to its shareholders and office as soon as possible including the following details in relation to such transaction:-
(a) the date of the transaction and the parties involved in the transaction,
(b) The nature of the business and the amount or value of such business, if any, such as providing loans, providing financial support and providing security.