S.297
This query is : Resolved
02 March 2010
as per S.297 Board approval is required before entering into any RTP transactions, however, if Paid up Share Capital is 1Crore approval of CG is necessary, however, the section claims certain exceptions, for eg, to enter transactions with prevailing mkt rates in cash or cheque. now if the co. Pd-up SC is 1Crore or more and it is entering in RTP transactions at Mkt rates, can the Co. falls in exception and the CG approval be waived off, it will record the Board minutes with this respect.
02 March 2010
Central Government approval is required even if the transaction is at current market prices.
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