Menu
disqualification of directors
What is d procedure to remove disqualification of directors if they are disqualified due to reason other than non filing of annual return for 3 fy. The directors have been disqualified bcoz of d Co. Which has already been amalgamated with other company. What steps to be followed to remove disqualification.?
Replies (5)
If disqualifications prescribed under section 164 is attracted, director must vacate his office as per section 167. Hence his office become vacant automatically.
Only filing form DIR-12 is to required ie...inform ROC about the disqualification and vacation of director.
Removal is not required. it is a different scenario. Section 169.
Only filing form DIR-12 is to required ie...inform ROC about the disqualification and vacation of director.
Removal is not required. it is a different scenario. Section 169.
My point is not cleared with ur reply
In the give case, such Director is not treated as Disqualified. In case of amalgamation of companies the company will offer him to be continue in the resulting company or competition to such Director.
He just need to send notice in writing to Company and ROC reason for resignation.
Disqualified is different from removal of Directors..
He just need to send notice in writing to Company and ROC reason for resignation.
Disqualified is different from removal of Directors..
compensation* not competition
REMOVAL OF DISQUALIFICATION:
Section149 (12), which starts with a non-obstante clause. An independent director or non-executive director shall be “liable” only for such acts of omissions or commission by a company which has “occurred with his knowledge, attributable through Board processes, and with his consent or connivance or where he had not acted diligently.”
Hence they will not be liable for such disqualification for such acts of omissions or commission by a company without his involvement.
Apply to NCLT or Central Government for removal of such disqualifications.
Section149 (12), which starts with a non-obstante clause. An independent director or non-executive director shall be “liable” only for such acts of omissions or commission by a company which has “occurred with his knowledge, attributable through Board processes, and with his consent or connivance or where he had not acted diligently.”
Hence they will not be liable for such disqualification for such acts of omissions or commission by a company without his involvement.
Apply to NCLT or Central Government for removal of such disqualifications.
Recent Topics :
- Difference between AIS and 26AS data.
- Applicability of FCRA to Article Processing Fees (
- GST Return
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
CAclubindia
