Section 274(1)(g)

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CS Ashish Jain (Querist)
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18 March 2010 whether section 274(1)(g) is also applicable in case of nominee directors.

If a public company which has not filed its AR and BS for the last 3 F.Y. and one of its director who was just appointed 1 year back so whether he will also be disqualified us 274(1)(g) since for the first 2 F.Y. he was not the director of the company.

Whether it is necessary that director should hold the office for all the 3 F.Y. in which default was made.

Rasesh

Rasesh (Expert)
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18 March 2010 Yes. Sec 274(1)(g) is applicable. However, PSU, PFI and Banks are exempted.

He will be also disqualified even if he was not director of the company. It is not necessary that he should hold office for all the 3 FY.

Ankur Garg

Ankur Garg (Expert)
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19 March 2010 Agree.

Sec 274(1)(g) is applicable to a nominee director.

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