section 294 of companies Act

bhupendra (Querist) 30 July 2010 This query is : Resolved
Dear members/seniors,

Whether an agreement for appointing an agent for marketing of
companies product attract section 294?
Abc pvt ltd co. having paid up capital of more than 50 lacs. has
entered into an agreement with m/s AB enterprises for marketing of
their software product and to act as support agency. will this
agreement attract section 294?

Regards,
Bhupendra
CS Management Trainee

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A V Vishal (Expert) 30 July 2010
If the agent is sole & for any area for a term exceeding five years at a time then yes.

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