11 May 2010
Let me know whether both companies are Public Co. or Pvt. Co.?
Section 297 will not be applicable on both companies(Holding & Subsidiary) if both companies are Public Co.
Section 297 will not be applicable if other co. is a Pub. Co..
Section 297 is also not applicable on 'Contract for rendering professional services.' Please elaborate your question so that proper answer can be given.
Both the companies are pvt comapanies and are in publication sector. Commission is paid to the holding company on the business which is arranged by the holding company in favour of subsi company.
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