banner_ad

Sec-297 of company act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 January 2009 Director of my company is also a director of foreign company which has a status of LLC as per US laws.Now we want to do business with that foreign company. Is section 297 applies here and is central govt approval required here.
Profile Image

CA. B.SRINIVASULU

Profile Image

CA. B.SRINIVASULU (Expert)
29 January 2009
You should check whether this director can control the operations of that foreing company in any way.

(1) Holding shares for voting power.
(2) Whether he is the chairman of that board
(3) Whether he can controll that business.
diretly or indirectly with his relatives.

If controlling interst is there and the contract is for supply or purchase of materials or service then you should ge central government permission under sec 297.

Form no.24A of mca has to be filed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
25 April 2026
Tax Executive/Manager

BDMV & Co, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details