appicability of sec 297 and 299

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2010 X is pvt limited company.Y is semi government organsiation i.e. MMRDA. Now MMRDA has appointed nominee directors on the board of the X. If some contract needs to be entered into by X with MMRDA pertaining to services provided by MMRDA. In such case whether nominee directors shall be considered as interested in this resolution as per sec 297 and 299 of the companies act,1956.

Ankur Garg

Ankur Garg (Expert)
Follow

14 July 2010 YES SECTION 299 IS APPLICABLE TO SUCH DIRECTOR AND REQUIRED DISCLOSURE U/S 299.

GOVT. COMPANIES ARE NOT EXEMPT FROM SECTION 299

WAIT FOR OTHER EXPERT OPINIONS.

THANKS

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2010 Plz. note that MMRDA is not government company as per compnies Act and my question is for pvt. company's meeting and not MMRDA's meeting. In such case your answer remains same?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Suman Lata Saraswat

S D Kannan

suresh kotte

S N Unni

Anu Raj

Subscribe Now

appicability of sec 297 and 299

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant