my co. (indian) wants to become sole selling agent for another foreing co. for this purpose it has entered into agreement acc. to which my co. is required to purchase goods for a certain minimum amount. and then my co. has to sell it in india by becoming an exclusive agent for the foreign co. the contract is for five year.
i want to ask whether any permission from RBI is required or not or it attracts any other provision of company law or FEMA. Pls reply early
As per the co. law applicable sec are 294, 294A,294AA
but my co. is being appointed as sole selling agent and under sec. 294 compliance is to be done by the co. who is going to appoint agents not which by one which is appointed.
m i right
Karia Overseas
Ahmedabad
CA
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CAclubindia
