Sole selling agents - Appointment made by board of directors without attaching condition that appointment will cease to be valid if it is not approved in first general meeting

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..... ppointment made by board of directors without attaching condition that appointment will cease to be valid if it is not approved in first general meeting Sub‑section (2) of section 294 provides that the board of directors of a company shall not appoint a sole selling agent for any area except on the condition that the appointment shall cease to be valid if it is not approved by the compan .....

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..... een incorporated in that agreement, is not correct. The Department has examined the implications of the aforesaid decision in consultation with the Ministry of Law and it has been decided that the sole selling agency agreement, which does not incorporate the aforesaid condition prescribed in sub‑section (2) of section 294, will be void ab initio and will continue to remain so even if it is .....

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