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Applicability of sec 297

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(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.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
18 May 2012 Section 297 is not applicable if both parties of contract are public companies.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
18 May 2012 Section 297 is not applicable if both parties of contract are public companies.
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Mamta Batra

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Mamta Batra (Querist)
18 May 2012 What if both companies are private?
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
18 May 2012 If both the companies are private companies, section will apply to both companies.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
18 May 2012 If both the companies are private companies, section will apply to both companies.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
18 May 2012 If both the companies are private companies, section will apply to both companies.
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