02.06.2016--Directors chapter query.....!!

This query is : Resolved

Vishal gupta (Querist)
Follow

02 June 2016 1. u/s 164(1)(f) if a director of a company is having shares of such company that are not fully paid up & 7 months have also been elapsed from the last date to pay the call money. whether such director is disqualified? if yes, then does this disqualification applies for such company only or for All/any other company? 2. u/s 161(2) An alternate director (Mr z) has been appointed in place for a director(Mr A) who has taken a leave and going outside India for more than 3 months. can Mr z be appointed as an alternate director for a director (Mr B) of such company who is also on vacation for more than 3months? if No, can Mr Z become a alternate director of All/any other company? kindly reply.....

Jatin Bajaj

Jatin Bajaj (Expert)
Follow

04 June 2016 According to section 164(1)(f) of Companies Act 2013,. if a Director has not paid in calls in respect of any shares of the Company held by him weather alone or jointly with others, and six months have elapsed from the last date for payment of calls, then such a Director shall stand disqualified and shall not be eligible to be reappointed as Director of the Company and be appointed in any other Company for a period of 5 years from the date on which the Company fails to do so.

Message likes : 1 times

Jatin Bajaj

Jatin Bajaj (Expert)
Follow

04 June 2016 Mr Z can be appointed as Director in place of Mr A, But Mr. Z cannot be appointed in place of Mr. B, because as per section 161(2), The Board of Directors of the Company if authorises by Articles of Association or by resolution passed by the Company in General meeting appoint a person holding alternate director but such alternate director shall not be the alternate director of any other director in the Company. Yes, An Alternate Director can be appointed as ALTERNATE Director in 20 other Company out of which 10 should be public Company( As per section 165)

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok