banner_ad

Section 297

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 January 2011 I have query regarding applicability of section 297 in case of transaction between a public ltd and a pvt. ltd. co.

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.
Profile Image

Jayashree S Iyer

Profile Image

Jayashree S Iyer (Expert)
07 January 2011 Section 297 is applicable to X Public Ltd. Board sanction is required. If the paid up capital is >1 crore, X Public Ltd is required to take CG approval as well.

However Section 297 does not apply to Y Pvt. Ltd.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 January 2011 Thanks for the response.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details