https://www.taxtmi.com/acts?id=12796 Section 416 requires an agent of a public company or of a private company that is a public company subsidiary who contracts where the company is an undisclosed principal to make a written memorandum of the contract terms and counterparty, deliver it to the company, send copies to each director, file it in the company office, and have it laid before the Board at its next meeting; noncompliance renders the contract voidable at the company's option and exposes the agent and defaulting officers to a statutory penalty. en-us Tue, 17 May 2011 11:47:15 +0530 Tue, 17 May 2011 11:47:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12796 Section 416 requires an agent of a public company or of a private company that is a public company subsidiary who contracts where the company is an undisclosed principal to make a written memorandum of the contract terms and counterparty, deliver it to the company, send copies to each director, file it in the company office, and have it laid before the Board at its next meeting; noncompliance renders the contract voidable at the company's option and exposes the agent and defaulting officers to a statutory penalty. Act-Rules Companies Law Tue, 17 May 2011 11:47:15 +0530 https://www.taxtmi.com/acts?id=12796