Related party contract
This query is : Resolved
23 February 2012
Dear All..........
On 2nd june 2011 the Board of a Company approved a contract to which sec. 29 is applicable. The Contract is for purchase of goods from Y Pvt. Ltd. However the actual contract was never executed should entry be made in 301 Register…?
Please give solution/comment...
Thanks & Regards,
Siddhi
On 2nd june 2011 the Board of a Company approved a contract to which sec. 29 is applicable. The Contract is for purchase of goods from Y Pvt. Ltd. However the actual contract was never executed should entry be made in 301 Register…?
Please give solution/comment...
Thanks & Regards,
Siddhi
Ajay Mishra
(Expert)
24 February 2012
Hi
If the contract is such as approved by the Board and in both company the director is common then entry in register of director will be made.
If the contract is such as approved by the Board and in both company the director is common then entry in register of director will be made.
25 February 2012
hi... Ajayji
but the actual contract was never executed.....
then only d entry require...
thanx...
siddhi
but the actual contract was never executed.....
then only d entry require...
thanx...
siddhi
Ajay Mishra
(Expert)
25 February 2012
If contract is not executed then the entry in the register is not required.
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