Contracts in which directors are interested Whether proviso to the sub section, requiring approval of Central Government

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....ion, requiring approval of Central Government in the case of companies having paid‑up capital of Rs. 1 crore or more, applies to contract of employment of director as managing director Instances have come to notice in which applications were made simultaneously for seeking approval of the Central Government under the proviso to section 297(1) as well as under other provisions, viz., section....