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TMI BlogSOLE SELLING AND SOLE BUYING AGENTSX X X X Extracts X X X X X X X X Extracts X X X X ..... Companies (Amendment) Act, 1960, appoint a sole selling agent for any area for a term exceeding five years at a time - Section 294(1) If the company refuses or neglects to furnish any such information, the Central Government may appoint a suitable person to investigate and report on the terms and conditions of appointment of all the selling agents - Section 294(6) (b) Penalty - Section 294(7) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tral Government is of opinion that the demand for goods of any category, to be specified by that Government, is substantially in excess of the production or supply of such goods and that the services of sole selling agents, will not be necessary to create a market for such goods, the Central Government may, by notification in the Official Gazette, declare that sole selling agents shall not be appo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction (2), sub-section (3) and sub-section (8), were in force at the time of such appointment, the company shall obtain such authority and approval within six months from such commencement; and if such authority and approval are not so obtained, the appointment of the sole selling agent shall stand terminated on the expiry of six months from such commencement. (5) If the company in general meetin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith any other body corporate and is appointed as the sole selling agent of the reconstructed company or of the body corporate resulting from the amalgamation; (c) where the sole selling agent resigns his office, otherwise than on the reconstruction of the company or its amalgamation as aforesaid; (d) where the sole selling agent has been guilty of fraud or breach of trust in relation to, or of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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