Sole selling agents - Appointment made by board of directors without attaching condition that appointment will cease to be valid if it is not approved in first general meeting

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Full Text of the Document

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....ors without attaching condition that appointment will cease to be valid if it is not approved in first general meeting Sub‑section (2) of section 294 provides that the board of directors of a company shall not appoint a sole selling agent for any area except on the condition that the appointment shall cease to be valid if it is not approved by the company in the first general meeting held ....