Please let me know , if a public limited company (S) has sold goods to a private limited company (T) on prevailing market prices but on a credit terms of more than 30 but less than 90 days, will the central government approval be required by the Public Limited Company (S). Waiting for a response from the learned experts here.
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Sec 297
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Dear Sanjeev,
You have not mentioned what is the paid up capital of the public & private companies.
Regards,
CS Ashish Shah
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