23 March 2011
Sir, if a company proposing to sale a land which is attached to its factory but not used in business activity, whether approval under section 293 (1) (a) is required?
24 March 2011
The sale will not attract Section 293(1)(a). The sale will be considered disposal of fixed assets in the normal course of business and not sale of undertaking or substantial part of the undertaking.
CAclubindia
