01 December 2011
Please tell me that there are two private ltd companies both are subsidiaries of a public ltd company, whether section 297 is applicable or not?
as section 297 is not applicable in case ot two public ltd companies
Private ltd companies which are subsidiaries of a public ltd company, are treated as public ltd companies within the meaning of section 3(1)(iv)(c). Hence section 297 would not be applicable.
CAclubindia
