The Companies Act 1956 Section 416 Contracts by agents of company in which company is u... - 0 views
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sangam kumar on 01 Jun 12Act : **Sections 411 to 415 omitted by Act 31 of 1965, w.e.f. 15th October, 1965. Sec416 - Contracts by agents of company in which company is undisclosed principal. (1) Every person, being the manager or other agent of a public company or of a private company which is a subsidiary of a public company, who enters into a contract for or on behalf of the company in which contract the company is an undisclosed principal shall, at the time of entering into the contract, make a memorandum in writing of the terms of the contract, and specify therein the person with whom it is entered into. (2) Every such person who enters into a contract as afore