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RTP Law May 12 CA Finals

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Ankur Garg (Company Secretary and Compliance Officer)   (114773 Points)
Replied 05 April 2012

Originally posted by : Future CA CS
No,its correct,Companies (Disqualification of Directors under section 274(1)(g) of the Companies Act, 1956) Rules, 2003  have made distinction between ‘disqualifying company’ and ‘appointing company’. A Director is disqualified from being appointed or reappointed in appointing company but he can be reappointed in disqualifying company.

 

Totally agree with the interpretation as defaulting director can be re-appointed in the defaulting company without any problem. Reason being Law restricts the appointment of defaulting director in any other public company.

 

Regards

 

1 Like


$ Pillu $ (**Love - Live**) (467 Points)
Replied 05 April 2012

Thank u so much for detailed reply.........

but sir now am confused .....bez of these lines

“such person shall not be eligible to be appointed as a Director of any other public company” Hence to conclude I would say he will be eligible to be re-appointed as a director of the defaulting company or any other public company of which he was a director.llows

As per Munish bhandari law book it says as follows

A direcotr of defaulting company is not eligible for appointment in any other public company

or

is not elgible for reapoointment in any other public company in which he is already a director.

please clarify.

 


A.K.Banik (Tax Consultant) (1596 Points)
Replied 05 April 2012

Directorship in

Defaulting Co.

Directorship in

New / Proposed Co.

Directorship in

Existing Other Co.

Not get Reappointment Not get Reappointment. Continue office till next AGM, thereafter gets retire by rotation and will not be reappointed.
  No director of defaulting co. can be -
Effect of Disqualification appointed in any public co. or
Under 274(1)(g) reappointed in the defaulting co. or
  reappointed in any other public co. in which he is already a director.

 


A.K.Banik (Tax Consultant) (1596 Points)
Replied 05 April 2012

Brothers and Sisters ,

Mere hisab se , agar tum 274/1/g me disqualified hote ho , to 5 sal k liye aap kisi v Public Co. k director nei ban sakte ho........agar ,  koi kahe ki wo to defaulting co k director ban sakta hai - to aab muje batawo , KOUN SA BEWAKUF Co. jan buj kar kisi director k appoint karega jo pahele se 274/1/g me fasa hua hai ???


Ankur Garg (Company Secretary and Compliance Officer)   (114773 Points)
Replied 05 April 2012

Originally posted by : Akash Kangsa Banik

Brothers and Sisters ,

Mere hisab se , agar tum 274/1/g me disqualified hote ho , to 5 sal k liye aap kisi v Public Co. k director nei ban sakte ho........agar ,  koi kahe ki wo to defaulting co k director ban sakta hai - to aab muje batawo , KOUN SA BEWAKUF Co. jan buj kar kisi director k appoint karega jo pahele se 274/1/g me fasa hua hai ???

 

Very funny observation….

Akash ji….come on….you are in CA Final…yahi likh kar aayoga kya exam main??????

Bhaiya aisa nahi hoti law ki padai……workout on your law understanding….

Plz bura mat man na…i don't want to hurt you but it's a bit serious...

 

2 Like



$ Pillu $ (**Love - Live**) (467 Points)
Replied 05 April 2012

@ akash ji.......

LOL......very good spontaneous reaction............laugh


A.K.Banik (Tax Consultant) (1596 Points)
Replied 05 April 2012

Originally posted by : Ankur Garg




Originally posted by : Akash Kangsa Banik






Brothers and Sisters ,

Mere hisab se , agar tum 274/1/g me disqualified hote ho , to 5 sal k liye aap kisi v Public Co. k director nei ban sakte ho........agar ,  koi kahe ki wo to defaulting co k director ban sakta hai - to aab muje batawo , KOUN SA BEWAKUF Co. jan buj kar kisi director k appoint karega jo pahele se 274/1/g me fasa hua hai ???






 

Very funny observation….

Akash ji….come on….you are in CA Final…yahi likh kar aayoga kya exam main??????

Bhaiya aisa nahi hoti law ki padai……workout on your law understanding….

Plz bura mat man na…i don't want to hurt you but it's a bit serious...

 

Thanks for you guidlines Ankur Sir. I must write answers in CA Exam with due care. What I have told here, is nothing but a clear view i.e. interpretatation of sec 274/1/g in layman's language.  Most of the students give their opinion as per principles of law, so i tried to give a new and interesting look to them. Such types of things are very helpful for me to clear any doubt, but i know , it is not a recommanded answer by regulatory bodies. Thanks Again.

1 Like

Dimple (Student) (364 Points)
Replied 06 April 2012

Please tell if winding up is deleted from syllabus applicable for may 2012?


$ Pillu $ (**Love - Live**) (467 Points)
Replied 06 April 2012

Companies (second Amendment) Act, 2002 relating to winding up is not applicable

However students are adivsed to study only general provisions of winding up as covered under paragraph 9.4 of the study material

 

Source - RTP May 2012.


Ankur Garg (Company Secretary and Compliance Officer)   (114773 Points)
Replied 06 April 2012

Originally posted by : Akash Kangsa Banik
Thanks for you guidlines Ankur Sir. I must write answers in CA Exam with due care. What I have told here, is nothing but a clear view i.e. interpretatation of sec 274/1/g in layman's language.  Most of the students give their opinion as per principles of law, so i tried to give a new and interesting look to them. Such types of things are very helpful for me to clear any doubt, but i know , it is not a recommanded answer by regulatory bodies. Thanks Again.

Akash ji I hope my PMfrown finds you in the best of spirit.smiley

Stay cool and happy.cool


 

1 Like




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