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Sec 297

This query is : Resolved 
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(Querist)
31 March 2012
Dear All,

Please guide if giving guarantee to the the associate company will attract sec 297 in case of private companies.

Regard,

Abhijit
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
02 April 2012 Dear Abhijit,
Only transactions of goods and services will be covered under sec 297. Hence, this will not be applicable to guarantees.

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