Section 297 - Cumulative quantity discount.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2011
A public company having capital more than 1 cr. selling goods to its sister concern in which directors are interested.
The sale is on prevailing market price and for cash
QUESTION:l
WHAT IF COMPANY PROVIDE CUMULATIVE QUANTITY DISCOUNT? iMPACT OF SECTIONS OF COMPANY LAW.
The sale is on prevailing market price and for cash
QUESTION:l
WHAT IF COMPANY PROVIDE CUMULATIVE QUANTITY DISCOUNT? iMPACT OF SECTIONS OF COMPANY LAW.
01 April 2011
If the transaction is between two public limited companies, then Sec 297 is not attracted.
If the transaction is with a private limited company, then the cumulative quantity discount may attract Sec 297 if it is not provided to other parties purchasing similar quantities from the company.
If the transaction is with a private limited company, then the cumulative quantity discount may attract Sec 297 if it is not provided to other parties purchasing similar quantities from the company.
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