Applicability of section 297 of companies act, 1956
This query is : Resolved
12 September 2011
If A Ltd. (holding Co.) comes into contract with B Pvt. Ltd. (Subsidiary of A Ltd.)whether A Ltd. has to follow the provisions of Section 297 of the Act.
12 September 2011
Holding Company to Subsidiary , sec 297 will applicable.
17 September 2011
Dear Archana
The Answer of your query is No.the provisions of section 297 will not apply.
As B ltd is a subsidiary of A ltd which is a public ltd company.Now as per the provisions of section 3(1)(iv)(c) of the Companies Act 1956 a private ltd which is subsi of public ltd is a public company.
then as on two ppublic ltd companies provisions of setion 297 is not applicable.
I hope your query is solved.
The Answer of your query is No.the provisions of section 297 will not apply.
As B ltd is a subsidiary of A ltd which is a public ltd company.Now as per the provisions of section 3(1)(iv)(c) of the Companies Act 1956 a private ltd which is subsi of public ltd is a public company.
then as on two ppublic ltd companies provisions of setion 297 is not applicable.
I hope your query is solved.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- GST not cancelled by tenant
- Capital gain on sale and purchase of plot
- FCRA 6 E- Intimation
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Resigning a auditor from the company for misconduct
- FORM 141 SDV query
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
