https://www.taxtmi.com/circulars?id=10846 Section 297(1) requires board consent for contracts between a company and a director or related firm; professional services like those of solicitors and advocates fall outside the scope of section 297(1). The proviso requiring prior Central Government approval for qualifying companies does not apply to employment contracts appointing a director as managing or whole time director, since directors hold a fiduciary position and their remuneration and appointments are governed by the articles and specific statutory provisions. en-us Thu, 05 Jun 1975 00:00:00 +0530 Fri, 17 Jun 2011 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10846 Section 297(1) requires board consent for contracts between a company and a director or related firm; professional services like those of solicitors and advocates fall outside the scope of section 297(1). The proviso requiring prior Central Government approval for qualifying companies does not apply to employment contracts appointing a director as managing or whole time director, since directors hold a fiduciary position and their remuneration and appointments are governed by the articles and specific statutory provisions. Circulars Companies Law Thu, 05 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10846