Applicability of sec 297
This query is : Resolved
Mamta Batra
(Querist)
18 May 2012
Dear Members,
My query is that Holding company is engaged in organizing events related to retail and fashion industry having paid capital > Rs. 1 cr and subsidiary company wants to participate in the events organised by holding company. The company has common director.
Will sec 297 would attract even if the holding company charged the amount which is charged to other participants?
Thanks in anticipation.
My query is that Holding company is engaged in organizing events related to retail and fashion industry having paid capital > Rs. 1 cr and subsidiary company wants to participate in the events organised by holding company. The company has common director.
Will sec 297 would attract even if the holding company charged the amount which is charged to other participants?
Thanks in anticipation.
CS Mitesh Mehta
(Expert)
18 May 2012
Section 297 is not applicable if both parties of contract are public companies.
CS Mitesh Mehta
(Expert)
18 May 2012
Section 297 is not applicable if both parties of contract are public companies.
Mamta Batra
(Querist)
18 May 2012
What if both companies are private?
CS Mitesh Mehta
(Expert)
18 May 2012
If both the companies are private companies, section will apply to both companies.
CS Mitesh Mehta
(Expert)
18 May 2012
If both the companies are private companies, section will apply to both companies.
CS Mitesh Mehta
(Expert)
18 May 2012
If both the companies are private companies, section will apply to both companies.
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