section 297

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Parashar (Querist)
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06 September 2010 it is mandatory that both the affected companies should file the application under section 297 of the companies act, 1956

kindly advise

SANJAY TALATI

SANJAY TALATI (Expert)
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06 September 2010 Sec. 297 is not attracted in case of the contracts entered into between two public limited Companies. Further, if Sec. 297 is attracted , then the compliance is to be made by Public company.Where out of the two companies , one is having a paid up capital of Rs. 1 crore and more and other having less than Rs. 1 Crore, the Company having a paid up capital of more than Rs. 1 Crore is to apply to CG.
If both have more than Rs. 1 Crore of capital , then application to CG (Regional Director) is to be made by both the companies.

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