Applicability of section 297 of companies act, 1956
This query is : Resolved
12 September 2011
If A Ltd. (holding Co.) comes into contract with B Pvt. Ltd. (Subsidiary of A Ltd.)whether A Ltd. has to follow the provisions of Section 297 of the Act.
12 September 2011
Holding Company to Subsidiary , sec 297 will applicable.
17 September 2011
Dear Archana
The Answer of your query is No.the provisions of section 297 will not apply.
As B ltd is a subsidiary of A ltd which is a public ltd company.Now as per the provisions of section 3(1)(iv)(c) of the Companies Act 1956 a private ltd which is subsi of public ltd is a public company.
then as on two ppublic ltd companies provisions of setion 297 is not applicable.
I hope your query is solved.
The Answer of your query is No.the provisions of section 297 will not apply.
As B ltd is a subsidiary of A ltd which is a public ltd company.Now as per the provisions of section 3(1)(iv)(c) of the Companies Act 1956 a private ltd which is subsi of public ltd is a public company.
then as on two ppublic ltd companies provisions of setion 297 is not applicable.
I hope your query is solved.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
