Sec. 297
This query is : Resolved
24 March 2010
Dear Sir/Madam,
Is previous approval of Central Govt. required, if the transaction is at prevailing market prices and for cash? (Transaction between a Company (PU capital 2 Crs.) and its Director)
Regards,
Vignesh J
Is previous approval of Central Govt. required, if the transaction is at prevailing market prices and for cash? (Transaction between a Company (PU capital 2 Crs.) and its Director)
Regards,
Vignesh J
Ankur Garg
(Expert)
24 March 2010
Hi,
I think proviso to section 297(1) is still applicable and you have to obtain previous approval of central govt. in case paid up capital is more than 1 crore.
Views of other experts solicited.
Regards
I think proviso to section 297(1) is still applicable and you have to obtain previous approval of central govt. in case paid up capital is more than 1 crore.
Views of other experts solicited.
Regards
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