TIOL-DDT 1659 · Tuesday, 26 July 2011 · story 6 of 8
Online Approval of Central Government under Section 297 of the Companies Act - Simplified Procedure
By Vijay Kumar
THE Ministry of Corporate Affairs has been receiving representations from various
Stake holders to simplify the approval processes under section 297 of the Companies Act, 1956.
In order to cut timelines in giving approval, the Ministry has decided to simplify the
procedures and to give approval online, if the proposed contract has been approved by the shareholders by way of special resolutions in a general meeting.