section 297 and 383A
This query is : Resolved
30 May 2009
1.) whether central government permission required for the transaction between holding and subsidiary compay u/s. 297, if both the companies are private limited and paid up capital is in excess of Rs. 1 crore.
2.) A company having a paid up capital of Rs. 50 lacs employes full time company secretary then whether the company requires to obtain compliance report u/s 383A from a practising company secretary ?
2.) A company having a paid up capital of Rs. 50 lacs employes full time company secretary then whether the company requires to obtain compliance report u/s 383A from a practising company secretary ?
02 June 2009
Dear Shripat,
1) If the transaction is related to the goods, materials or services, yes Central Government permission is required.
2) A Company having a paid up capital of Rs.50 lacs need not required to employe a full time Company Secretary but yes it required to take a Compliance Certificate Report from a Praciting Company Secretary and required to file the same with the Director's Report, Balance Sheets, P & L filed with ROC.
If you need any further clarification, pl feel free to contact.
Regards,
Ashish Shah
1) If the transaction is related to the goods, materials or services, yes Central Government permission is required.
2) A Company having a paid up capital of Rs.50 lacs need not required to employe a full time Company Secretary but yes it required to take a Compliance Certificate Report from a Praciting Company Secretary and required to file the same with the Director's Report, Balance Sheets, P & L filed with ROC.
If you need any further clarification, pl feel free to contact.
Regards,
Ashish Shah
03 June 2009
1. Yes Central Govt approval u/s section 297 is very much applicable in your case. The same is not applicable only if the contractee company is a public company.
2. In your case you have to file Compliance Certificate Report from a Praciting Company Secretary even if you have appointed a whole time CS.
Best Regards
2. In your case you have to file Compliance Certificate Report from a Praciting Company Secretary even if you have appointed a whole time CS.
Best Regards
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