Is transaction with Foriegn company covered under sec 292 and 299
This query is : Resolved
Gaurav Dhingra
(Querist)
20 November 2007
We are a India based company having a subsidiary in Japan and we wish to enter into certain transactios with this subisidiary. Do we need to get into central government approval for this transaction as subsidiary is a foreig company?
S.Srinivasaraghavan
(Expert)
21 November 2007
SEction 299 will be applicable to the transactuion. It is not clear as to Why you are making reference to Section 292. Section 297 is not applicable. Apart from companies Act, all other regulations relating to EXIM and FEMA will have to be taken care of
S.Srinivasaraghavan
S.Srinivasaraghavan
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