Related party - 188 attraction in case of PDI

Perpetual debt instrument cannot be defined as property for the purpose of Companies Act, 2013. It is just a bundle of rights and is not defined as property anywhere.

X company owning PDI in Y (a related company), can transfer the same to its director(who is a related party) or a related body corporate without attracting 188 (1) (b) or 179 read with rules to file MGT 14.

Hence, it can be said that any 'investment' transfer which does not fall under sell/buy of a property will be outside the purview of 188/179 rules thereto.