sec164 of CA, 2013 states that No person who is or has been a director of a company which a)Has not filed Fin Stat's or Annual Returns for any continuous period of 3 FY's; or b) Has failed to repay the deposits or interest thereon or redeem any debentures on due date or interest there on or pay any dividend declared and such failure --->Continues for 1 yr or more then such director shall not be eligible for reappointment in that company and appointment in other company whereas as per Sec 167 The office of a director shall become vacant in case [Sec 167(1)]- a) He incurs any of the disqualifications specified in Sec 164. whether such director shall be deemed to be vacated his office in the defaulting Company or he continues to be Director of the defaulting company ??? whether he shall immediately vacate his office or hold till his duration ????
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Disqualification and vacation of director
Replies (2)
Same doubt he bhai.
1. Office of director shall became vacant in all companies (including defaulting companies)
2. Vacation shall be immediate and automatic. Office shall became vacant from the moment director attracts the disqualification. Further such vacation shall be automatic and there is no requirement of any filling or other such requirement.
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