Dear Friends
Plz help me out regarding this....
A Pvt Company is having a contract with a firm in which a director is interested, that menas, section 297 is applicable on that comapny but the contract is on prevailing market prices, which is an exemption u/s 297 of companies act, 1956
My question is whether in that case, do we have to pass a board resoltuion showing applicablity of section 297 along with this exemtped condtion or we dont have to show the applicabilty of such section.
wating for responses.
CAclubindia
