Disqualification of director
This query is : Resolved
12 June 2018
Can a Promoter Director who is also a 50% shareholder in a Pvt Ltd be disqualified under section 164(1)(f) if he has not brought in his share capital within six months after incorporation? If yes, what should be the evidence of cessation to be provided in DIR 12, because in my view it is automatic vacation of office once he is disqualified.
12 June 2018
1. Yes. disqualified.
2. Automatic vacation. CTC of noting in BM can be attached with DIR-12 & 'vacation of office u/s 167' can be selected from the drop down menu against clause 5 (xvii) of the said form.
2. Automatic vacation. CTC of noting in BM can be attached with DIR-12 & 'vacation of office u/s 167' can be selected from the drop down menu against clause 5 (xvii) of the said form.
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21 June 2018
Thank you Chackrapani Sir. Your response gave me confidence about my interpretation. Thank you for your timely help.
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