Online approval of Central Government under section 297 of the Companies Act, 1956

MCA vide Circular No. 52/2011 dated 25th July, 2011 has decided to simplify the procedures and to give online approval, if the proposed contract has been approved by the shareholders by way of special resolution in a general meeting and if the e-form is certified by a practising professional who shall certify the correctness of the information and declarations given by the Company in the e-Form.