A Private Limited Company has entered into contract with the one of its director on 1st April 2009 for using her trademark in exchange of royalty payment to her.Now when the Company enterd into this contract the paid up capital of the Company was less than Rs. 1 Crore and now the Company's paid up capital is Rs. 1crors.
So my question is ,do we have to take approval of the Regional Director and file form 24A with RD, as per the provisions of section 297 of the Companies Act 1956?
Regards
Priya Sharma
CAclubindia
