Applicability of section 297 of companies act

Mahesh (Querist) 05 September 2013 This query is : Resolved
Hello Experts,

Please provide with your expert advise for my queries as below:

Company A is to purchase some registered Trade Marks and Copyrights of Company B. Company B is the registered owner of the Trade Marks and Copyrights involved in the transaction. Both are related parties as per the Companies Act. They have common directors and both are private limited companies.

I presume, RD approval is required for the purchase, sale of goods, services and materials as per the provisions of Section 297 of the Companies Act, 1956.

Please let me know, whether the registered Trade Marks and Copyrights will come under the category goods, services or materials and also let me know whether prior RD approval is mandatory for this transaction.

Please provide with your clarifications with supporting documents.

Awaiting for an early and positive replies.

Regards,

D.Mahesh

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R.K Nanda (Expert) 05 September 2013
consult ur co.LA.

Guest (Expert) 05 September 2013
Commercial query. Both the companies can well afford to hire services of a consultant, if as a company secretary you are unable to solve their problem.

Rajendra K Goyal (Expert) 07 September 2013
Consult your legal adviser.

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