section 297 of Companies Act

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2010 Do Pvt. Ltd. cos having Paid up Capital above 1 crore, need approval of central govt for certain contracts in which directors are interested ?

What does this paid up Capital constitute ? only equity or redeemable preference shares are also included ?

Is there any limit or parameters for premiums on issue of shares ?

Jagruti (CS)

Jagruti (CS) (Expert)
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13 July 2010 Yes if Pvt Company ente into contract with private Company but any contract with Public Company Section will not apply to pvt Company.

Paid up capital mean both equity & preference shares.