Exceeding the Limit of approval under sec 297

Shivani Kakkar (CS, CA - IPCC) (44 Points)

24 July 2010  

 

Dear All,

A private limited Company has got the compounding of the offence done under section 297 and taken approval from RD for further transactions with the related parties.

 

My query is what can be done if for the particular year, company has exceeded the limits of transactions for which approval was granted. What are the possible measures?

 

Kindly advice.

 

Thanks & Regards

Shivani Kakkar