hi,
I would like to know whethere Holding Co. is covered under Section 301 of Companies Act.?
post me your views...
Thanks.
Mehta Darshan (artical) (100 Points)
21 August 2010hi,
I would like to know whethere Holding Co. is covered under Section 301 of Companies Act.?
post me your views...
Thanks.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 21 August 2010
Dear Friend
Section 301 says maintenance of register for all contracts or arrangement covered under section 297 or 299. It will also cover holding company if you make contract or arrangements.
Regards
Ajay Mishra
Mehta Darshan
(artical)
(100 Points)
Replied 21 August 2010
Thanks Dear.
I would like to take your furthure help wethere application money received from Holding Co. will be Covered under Contracts covered under section 297 or 299.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 21 August 2010
Dear Friend
Please read the applicability of provision of section 297.
Section 297 does not apply to:
1. Giving or taking loans.
2.Contract in respect of immovable property (as it is not 'good' ).{Letter No. 9/4190-CL-X dated 27.03.1990}.
3.Contract between two public Companies.
4.Contract of employment of director or managing or whole time director.[ Circuler No.8/11/75-CL-V dated 27.03.1975]
5.Contract for employment of relative of director.
6.Contract entered into by the company with the dealer on principle to principle basis. [Circuler No. FM 8/297/56-PR dated 02-08-1956]
7. Professional services of the nature given by firms of solicitors and advocates, etc.[circuler No. 8/11/75-CL-V dated 05.06.1975]
8.hiring of office premises on rent as the transaction is in immovable property. [Department Clarification dated 10-09-1990]
Regards
CS Ajay Mishra
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