Section 297
This query is : Resolved
21 February 2009
dear all,
Please guide me on my following query;
We are private limited Indian Co. which is subsidiary of Japanies ltd. co. ,we regularly trade with parent co. through our purchase sell contract ;
these Co .are closely held Co. having common directors.
Plese tell me is it require to take Govt approval for regular sale purchase contract of the Co. U/S 297
We have taken FIPB approval for our collaboration is it sufficient and if any approval is required what is procedurre to take this approval.
Thanking you in advance for your reply
Please guide me on my following query;
We are private limited Indian Co. which is subsidiary of Japanies ltd. co. ,we regularly trade with parent co. through our purchase sell contract ;
these Co .are closely held Co. having common directors.
Plese tell me is it require to take Govt approval for regular sale purchase contract of the Co. U/S 297
We have taken FIPB approval for our collaboration is it sufficient and if any approval is required what is procedurre to take this approval.
Thanking you in advance for your reply
CA. B.SRINIVASULU
(Expert)
22 February 2009
The section is applicable to indian public limited company or subsidiary of indian public limited company where the capital is more than one crore.
In your question you have not informed about the capital of your subsidiary or parent company.
Kind give those details to analayse further.
In your question you have not informed about the capital of your subsidiary or parent company.
Kind give those details to analayse further.
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