Section 297

Ashwin (Information Seeker) (155 Points)

07 August 2012  

Dear All,

Greetings of the Day,

I have a query regarding section 297 which is as follows.


Our is a Pvt. Ltd. Company which is providing loan to another Pvt. Ltd  company in which directors are intersted by have directorship in both the company.

and providing loan is not a regular business activity of the Company, it is in the business of manufacturing.

Now my question is wheather the provisions of Section 297 are attracted and if the same is covered under the definition of services of the particular section,

if yes then what should be the compliance part on my side.


Thanks & Regards