Applicability section 297 to trust

Section 297 doesnot say anything on trusts thus in my view in your case itrs applicability wont be there and consequentialy no central govt. approval will be required.

Section 297 applies only to companies. Section 297 applies when parties to the contracts are companies. 

Section 297 applies only to companies. Section 297 applies when parties to the contracts are companies. 

 Section 297 applys,where director of the company or his relative, a firm in which such a director or relative is a partner, any other partner in such a firm, or a private company of which the director is a member or director, shall not enter into any contract with the company

a. For the sale, purchase or supply of any goods, materials or services or

b. after the commencement of this Act , for underwriting the subcription of any shares in, or debebtures of, the company.

Provided that in the case of a company having a paid up share capital of not less than rupees one crore, no such contract shall be entered into except with the previous approval of the central government.

1. The above sub-section does not cover any thing pertains to trust, so that section 297 does not apply to entering contracts with trust.

2. Central Goverment approval is not required for the above transaction.

3 Not required to enter into Registrar maintained under section 301.