Page 164 - InterloopAnnualReport2021

transactions were placed before the Board of Directors for approval. The nature of relationship with these related
parties has also been indicated in the referred Financial Statements for the subject fiscal years.
Agenda Item No. 8 of the Notice –

To authorize Board of Directors of the company to approve potential transactions with the Related Parties
intended to be carried out in the financial year ending on June 30, 2022.

The company shall be conducting transactions with its Related Parties during the year ending on June 30, 2022
in the normal course of business. The majority of Directors are interested due to their common directorship in
the associated undertakings. In order to promote transparent business practices, the shareholders are required to
authorize the Board of Directors to approve transactions with the related parties from time-to-time and on case
to case basis for the year ending on June 30, 2022, which transactions shall be deemed to be approved by the
Shareholders, irrespective of the composition of the Board, and in compliance with the company’s policy pertaining
to Related Party transactions and notwithstanding any interest of the Directors of the company in any Related Party
transaction which has been noted by the shareholders.
The Directors are interested in the resolutions to the extent of their common directorships and shareholding in the
associated companies and the privileges attached thereto only.

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