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CA Suraj Prasad Shaw (Chartered Accountant)     11 June 2011

Disqualification of directors

Whether Director of a public company will be disqualified if he does not attend any board meeting during the financial year?



 8 Replies

Arvind Sharma

Arvind Sharma (ACA)     11 June 2011

Yes...

u/s 274(1)(g) a Director will be disqualified for 5 Years to be a director of any other Public Company... (he can be Director of Pvt Com.) if he failed to attained consecutive 3 Board Meeting or board meeting held between 3 months.

1 Like
rachit jain

rachit jain (chartered accountant )     11 June 2011

disqualification will arise at the time of appointment and vacation of office happens after appointment. not attending of board meeting will not count for disqualification as per sec 274.however he has to vacate his office if he absent from 3 consecutive board meeting or for all board meeting for a continues period of 3 month whichever is longer without obtaining leave of absent from board (absent under this sec scope for legal and medical impossibility) 

1 Like
Aparna Raja K.C

Aparna Raja K.C (Student)     11 June 2011

Originally posted by : rachit jain

disqualification will arise at the time of appointment and vacation of office happens after appointment. not attending of board meeting will not count for disqualification as per sec 274.however he has to vacate his office if he absent from 3 consecutive board meeting or for all board meeting for a continues period of 3 month whichever is longer without obtaining leave of absent from board (absent under this sec scope for legal and medical impossibility) 

Good point raised :)  Agree

1 Like
Arvind Sharma

Arvind Sharma (ACA)     11 June 2011

Originally posted by : Arvind

Yes...

u/s 274(1)(g) a Director will be disqualified for 5 Years to be a director of any other Public Company... (he can be Director of Pvt Com.) if he failed to attained consecutive 3 Board Meeting or board meeting held between 3 months.


Sorry for the wrong reply.... :(

There is no disqualification given for that... But 283(1)(g) explained VACATION (not disqualification) from office... The same is Automatice vacation and not require any resolution...

Rachit is correct....


Thanks for correcting me.....

1 Like
CA Suraj Prasad Shaw

CA Suraj Prasad Shaw (Chartered Accountant)     13 June 2011

Please clarify if director had obtained leave of absence from all the board meeting during the financial year, then also it will be a vacation of office of Director.

Rajnikant Vadigoppula

Rajnikant Vadigoppula (CA, CS And CMA Final)     13 June 2011

yes i agree with rachit and aparna

Arvind Sharma

Arvind Sharma (ACA)     13 June 2011

Originally posted by : Suraj Prasad Shaw

Please clarify if director had obtained leave of absence from all the board meeting during the financial year, then also it will be a vacation of office of Director.

 No...

Sec 283 is very clear about this. If director is absent with leave, for any period, he will not be liable for vacation of office...

 

Find attached file.....


Attached File : 200449 739210 sec 283 of com act.doc downloaded: 236 times
1 Like
S.ASWATH

S.ASWATH (Manager)     25 June 2012

Originally posted by : Arvind Sharma




Originally posted by : Suraj Prasad Shaw






Please clarify if director had obtained leave of absence from all the board meeting during the financial year, then also it will be a vacation of office of Director.






 No...

Sec 283 is very clear about this. If director is absent with leave, for any period, he will not be liable for vacation of office...

 

Find attached file.....

What is the current status as per circular 27&28/2011 director should attend one meeting in a year
 


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