Simplified procedure for obtaining online approval of Central Government under section 297 of the Companies Act, 1956.

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....ors, All Registrar of Companies, All Stakeholders. Sub : Simplified procedure for obtaining online approval of Central Government under section 297 of the Companies Act, 1956. Sir, The Ministry of Corporate Affairs has been receiving representations form various stakeholders to simplify the approval processes under section 297 of the Companies Act, 1956. In order to cut timelines in giving a....

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....ompetitive, at an arm's length, without conflict of interest and is not less advantageous to it as compared to similar contracts with other parties. (ii) The company has not made any default in repayment of any of its debts (including public deposits) or debentures or interest payable thereon and has filed its upto date Balance Sheets and Annual Returns with the Registrar of Companies; (iii) The....