Sec 297

Dear all

X Limited – Listed Company

Y and Co. – Partnership Firm

Z and Co. – Partnership Firm

Mr. A – who is Managing Director of a X LIMITED

Mr. B – Partner in Y and Co. along with Mr. A

Mr. B – Partner in Z and Co. but Neither Mr. A is Partner nor any relative as per Schedule 1(A) of Mr. A is partner

Now as per section 297 X Limited cannot enter into contract with Y and Co but Company can enter into Contract with Z and Co.

I want to appoint Mr. B under Section 314 in the Place of Profit.

My Query is that after appointing Mr. B in the place of profit (as a consultant or employee) will the Contracts entered into with Z and Co. will attract Section 297 ??

Thanks & Regards,