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Section 297

This query is : Resolved 
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(Querist)
26 September 2013 While Going through the balancesheet of one of my client Companies I saw sale and purchase of goods from its group company.
PLease note that
Both the Cos are private
Both have the same directors
and the purchase and sale is not based on any contract...please reply whether 297 is applicable
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Veeraraghava Narasimhan

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Veeraraghava Narasimhan (Expert)
27 September 2013 If they are not entering into any Contract then Sec 297 Shall not apply.
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