had a query regarding applicability of section 297 for pvt co having paid up share capital of more than rs.1 cr (govt approval required) for contracts entered by the co.
eg: A is a director in both the private cos. B & C. so any contract entered by B & C requires government approval since the paid up cap exceeds 1 cr. Also B & C are joint ventures. pls advice.
CAclubindia
