Register u/s 301(1)

Section 297 applies only to sale,  purchase or supply of any goods, materials or services.

Providing loans does not fall within the scope of this section and hence not applicable.

Thanks for clarification.

But providing loan is not a service??? and What about entry in register u/s 301(1), cause section 299 is applicable here.

Regards

However sections 299 and 301 will be applicable as they cover all contracts or arrangements in which directors are concerned or interested directly or indirectly . however only if the shareholding of the director is more than 2% of the paid up share capital in the other company.

Originally posted by : Jayashree S Iyer
	However sections 299 and 301 will be applicable as they cover all contracts or arrangements in which directors are concerned or interested directly or indirectly . however only if the shareholding of the director is more than 2% of the paid up share capital in the other company.

Agreed with expert Jayshree Mam!

Providing loan is not a service.