Applicablity of section 297 & 299

sunil prakash jain (Sr.manager) (101 Points)

27 May 2011  

Company A & B : both private limited companies. Company A is holding Company of Co.B

Director : one director is common

Nature of transaction between A & B : Reimbursement of exp., Share application money, allotment of shares.


Director is given disclousre U/s 299 (3)


Whether such transaction shoud be recorded in  register U/s 301. If yes than how it is reported under para 5 of the Audiotrs report.


To genealise my query wheter any tranaction with Company recorded under section 301 (3) shall be reported in register.