DEAR FRIENDS
NORMALLY CENTRAL GOVT GRANTS APPROVAL FOR 3 YRS PERIOD FOR 297 CONTRACTS.
IS THERE ANY SECTION WHEREIN ITS MENTIONED THAT 297 CONTRACTS CAN BE MADE ONLY FOR 3 YRS PERIOD?
THANKS
Varsha (CS) (130 Points)
17 February 2012DEAR FRIENDS
NORMALLY CENTRAL GOVT GRANTS APPROVAL FOR 3 YRS PERIOD FOR 297 CONTRACTS.
IS THERE ANY SECTION WHEREIN ITS MENTIONED THAT 297 CONTRACTS CAN BE MADE ONLY FOR 3 YRS PERIOD?
THANKS
prakash
(Company Secretary)
(1352 Points)
Replied 18 February 2012
There is no section in companies act stating that section 297 constracts can be made for period of three years only, it is discreation of central goverment to give permission for 297 contracts, in my case central goverment gave the permission of 5 years under section 297.
CAclubindia
