13 February 2010
In Case where there are two public co and both are having paid up capital above Rs 1 Cr. and enters into contract under 297 at the time of contract as both are public co they are exempted, but subsequently the status of one company changes to private co, now whether the permission of Central Govt is required ?
kindly provide supporting case law or notification
15 February 2010
but when u apply for the conversion from public to private u have to make an application to Central Govt. and they will consider the point regarding Sec. 297.
CAclubindia
