Dear CA Clubbers,
"A" is a Limited company. "B" is a Private Limited company. Here the relatives of Directors of "A" are members of "B". Company "B" has signed contract with "A" for rendering service support works via. clearing & forwarding, transportation, other service related works. (these are examples)
In this case:
1) Does Section 314 applies?
2) Any permission required from Central Government as relatives of director are members of company "B".
3) Further to this any other section will be arrtracted?
Please help
CAclubindia
