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Applicability of sec 297

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(Querist)
07 August 2014 Sir,

please be kind enough to clarify whether sec 297 is applicable when a company sales an immovable property held in as stock in trade?

Thanking for ur valuable time in advance.
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Ankur Garg

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Ankur Garg (Expert)
07 August 2014 Kindly appreciate now section 297 of Companies Act, 1956 is not applicable. Now Companies Act, 2013 is in force. You are advised to check section 188 as section 188 replaced Section 297. You are requested to elaborate the transaction to help you in this matter.

Thanks
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Himal

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Himal (Querist)
07 August 2014 respected sir,

the transaction i am referring to is of financial year 2013-14.

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