Does Sale,Purchase of Goods as per Section 297(1)(a) also include Shares or Securities?
1 Replies
Charu Srivastava
(Company Secretary)
(4210 Points)
Replied 16 September 2011
Yes, Sale and purchase of goods include shares because
Goods under section 297 of companies Act is the same as defined under Sale of Goods Act ,1930 which states:
“Goods” means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale.
Correct me if wrong..
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