https://www.taxtmi.com/circulars?id=10861 Contracts entered into before 1 2 1975 do not require approval under the proviso to sub section (1) of section 297, but any modification or renewal after the original period will require Central Government approval under that proviso; approval is necessary for all transactions within the proviso except those excluded by sub section (2) of section 297, and this applies to contracts of employment of a director as managing director in companies meeting the paid up capital threshold. en-us Wed, 09 Jul 1975 00:00:00 +0530 Fri, 17 Jun 2011 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10861 Contracts entered into before 1 2 1975 do not require approval under the proviso to sub section (1) of section 297, but any modification or renewal after the original period will require Central Government approval under that proviso; approval is necessary for all transactions within the proviso except those excluded by sub section (2) of section 297, and this applies to contracts of employment of a director as managing director in companies meeting the paid up capital threshold. Circulars Companies Law Wed, 09 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10861