How does the Companies Act, 2013 regulate and restrict the following: (i) Non-cash transactions involving directors in a company where the company acquires land and building from these directors. (ii) Managing Director o

(i) Non-cash transactions involving directors In accordance with the provisions of the Companies Act, 2013, as contained in Section 192(1), without the prior approval of the company in a general meeting, a company will not enter into an arrangement by which: 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 The company acquires or is to acquire assets for consideration other than cash, from such director or person so connected If the director or connected person is a director of the holding company, an approval will also be required by passing a resolution in the general meeting of the holding company. (ii) Managing Director entering into forward dealing in securities Section 194(1) provides that no director of a company or any of its KMP shall buy in the company; or in its holding, subsidiary or associate company- a right to call for delivery or a right to make delivery at a specified price and within a specified time, of a specified number of relevant shares or a specified amount of relevant debentures; or a right, as he may elect, to call for delivery or to make delivery at a specified price and within a specified time, of a specified number of relevant shares or a specified amount of relevant debentures. If a director or any KMP of the company contravenes these provisions of sub-section (1), such director or KMP shall be punishable with imprisonment for a term which may extend to 2 years or with fine which shall not be less than ₹1 lakh but may extend to ₹5 lakh or with both.