Disqualification of directors
This query is : Resolved
23 December 2017
A Company name has been striken off from Office of the Registrar of Companies, due to non filing of financial statements to ROC for 2 years.In this regard whether directors are disqualified u/s 164 of The Companies Act,2013?
01 January 2018
No person who is or has been a director of a company which—
(a) has not filed financial statements or annual returns for any continuous period
of three financial years; or
(b) has failed to repay the deposits accepted by it or pay interest thereon or to
redeem any debentures on the due date or pay interest due thereon or pay any dividend
declared and such failure to pay or redeem continues for one year or more,
shall be eligible to be re-appointed as a director of that company or appointed in other
company for a period of five years from the date on which the said company fails to do so.
in ur case ...non filing is only for 2 years ..so there is no chance of disqualification,, and if it would have been more than 3 years ,, director(present) would have not enjoyed the reappointment in the same company.!
(a) has not filed financial statements or annual returns for any continuous period
of three financial years; or
(b) has failed to repay the deposits accepted by it or pay interest thereon or to
redeem any debentures on the due date or pay interest due thereon or pay any dividend
declared and such failure to pay or redeem continues for one year or more,
shall be eligible to be re-appointed as a director of that company or appointed in other
company for a period of five years from the date on which the said company fails to do so.
in ur case ...non filing is only for 2 years ..so there is no chance of disqualification,, and if it would have been more than 3 years ,, director(present) would have not enjoyed the reappointment in the same company.!
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