Director

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Company Secretary 2004
1018 Points Joined April 2009

Hi all

A person is a Director and Member in a pvt. and a public ltd. company The registered office of the Company will be situated in a building which is owned by this person ie who is director as well as shareholder of these companies. Now, as the company is a separate legal entity and the director is allowing to use his property as registered office, What formalities are required to be done under the Companies Act, 1956. Which sections apart from Sec 299, 300, 297 of the Act are to be taken care of.

Kindly advise, it is a bit urgent.

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On 19 March 2012 at 17:10 Report
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ACA CS Final Student
151 Points Joined December 2008

Hi Parashar,

Section 299 & 300 are only covered, but Section 297 does not apply to rent of premises for office of the company since 297 does not apply to transactions in immovable properties (Reference: Chartered Secretary, October 1990 - Vol.20, Page 877)

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On 24 March 2012 at 15:38
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Company Secretary & Compliance Officer
17858 Points Joined November 2008

Director can execute a rent agreement and take rent on the property...

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On 26 March 2012 at 15:08


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