20 May 2011
Can anyone help me with the following?
if there are sale - purchase transactions between group companies and the companies are having the agreement, then in which board meeting we have take note of S. 301 Register?? (In Pvt Ltd company)
Is it every 1st Board Meeting of current financial year we have note down for the last financial year??
20 May 2011
The required disclosure of interest shall be made at the meeting of the board at which the contract is first taken into consideration. Such notice of disclosue expires at the end of the financial year in which it is given, but may be renewed for further period of one financial year at a time by fresh notice given in the last month of the financial year in which it would otherwise expire. Entries of contracts must be made in the register maintained u/s 301 with in 7 days of the meeting of the board at which the contract is approved.
CAclubindia
