i hav a doubt regarding,whether a director disqualified u/s 274(1)(g)can be reappointed in d same defaulting Co.? as d act says he is disqualified to be appointed as a director in ANY OTHER PUB CO.
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| Originally posted by :bijoy | ||
| " | i hav a doubt regarding,whether a director disqualified u/s 274(1)(g)can be reappointed in d same defaulting Co.? as d act says he is disqualified to be appointed as a director in ANY OTHER PUB CO. | " |
the act only says, the disqualified director is not eligible to appoint in any other public Companies. he may appoint as director in the existing company
Yes he may be reappointed in same company but not in any other PLC
NO AS FAR AS THE INTENTION OF LAW IS CONCERNED HE CAN NOT BE APPOINTE AS A DIRECTOR IN THE SAME PUBLIC CO. ALSO
Dear Bijoy,
As mentioned by Prakash, he may be appointed in the same defaulting company. Reason being he is no more a director of the same company. Law says he can not be appointed as a director of any 'other PLC'.
However, If we go by the literal interpretation of the proviso he may be appointed as a director of any other PLC if he leave the defaulting Co. before the default commence. Reason being it is mentioned in the proviso that such person shall not be allowed to appoint in other PLC for 5 years if he is still a director of a defaulting Co. (i.e. still working in the defaulting co. {Present tense}.
In simple words if he leave the company before default then there will be no question of application of the proviso. Hope this discussion will help you in your professional work.
Best Regards--Ankur Garg ankur_gargcs @ rediffmail.com
DEAR BIJOY
Dont be cofused at all, director shall be disqualified from being reappointed in the defaulting company in which he is already a director as well as in any other public co. however he will become eligible for appointment or reappointment after a period of 5 year .
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