Section 297
Querist : Anonymous
i) X public ltd. and Y Pvt. ltd company are JV partners and the share of X pub. ltd. is 49%.
ii) There are two nominee directors in Y pvt. ltd co. of whom one is the director in X pub. ltd. co.
iii) X ltd providing services to Y Pvt. ltd on daily basis.
However Section 297 does not apply to Y Pvt. Ltd.
Querist : Anonymous
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