Section 297 of the Companies Act
This query is : Resolved
09 July 2010
Hello Everyone..
The law says that Sec 297 does not apply if it is a contract between two public companies does the same apply if there are two private companies under the contract??
The law says that Sec 297 does not apply if it is a contract between two public companies does the same apply if there are two private companies under the contract??
09 July 2010
YES. EVEN IF THE CONTRACT IS BETWEEN TWO PVT LTD COMPANIES SEC 297 WILL BE APPLICABLE.
http://www.vakilno1.com/bareacts/companiesact/s297.htm
CHECK ABOVE LINK FOR DETAILED PROVISION.
http://www.vakilno1.com/bareacts/companiesact/s297.htm
CHECK ABOVE LINK FOR DETAILED PROVISION.
09 July 2010
Where contract is between 2 private companies --- section 297 shall apply.
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