Section 297 provision

This query is : Resolved

Ganisht (Querist)
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30 December 2010 XYZ & Co and ABC & Co (Both are public & Listed companies) enter in a aggrement of suppling goods which are made by ABC & Co.
Mr. P is a director in both Companies.

Explain wheather section 297 is applicable in this case.

Jayashree S Iyer

Jayashree S Iyer (Expert)
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31 December 2010 The transaction is between two public limited companies. Hence Section 297 is not applicable as per Companies Act, 1956.

Since they are listed companies, as per listing agreement is there any requirement? Experts please clarify.