THERE IS A COMPANY WHICH HAS DELAYED IN FILING FORM 24A FOR RELATED PARTY CONTRACT APPROVAL U/S 297(WHICH IS BEING APPLIED FOR 2ND TIME, 1ST APPROVAL BEING FOR 3 YRS HAS NOW EXPIRED).
NOW, RD HAS ASKED FOR REPLY FRM CO FOR THE DELAY.
THE COMPANY HAS MADE 3 TRANSACTIONS OF SALES AT MAKET PRICES ON CASH BASIS-BUT ITS A RUNNING A/C(SETTLEMENT MADE AT THE END OF EACH MONTH) B/W THE COMPANIES.
NOW, WHILE REPLYING, SHOULD THE COMPANY TAKE THE CONTENTION OF INADVERTANT DELAY & SO IT SHUD BE CONDONED
OR
THAT IT WAS UNDER THE IMPRESSION THAT IT WAS EXEMPT U/S 297 2(a) & NOW SUO-MOTO IT IS SEEKING APPROVAL FROM RD?
CAclubindia
