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Disqualified director

ramcharan012017 (accountant) (87 Points)

23 November 2017

Dear Sir / Madam,

Please give your valuable replies...

* when a director is disqualified...?

* When a director is qualified and disqualified.?

* who can become a director..?

* What are the difference as directors in Pt ltd and public Ltd company?

Thanks in Advance

RamCharan

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6 Replies

yogesh (ARTICLE ASSISTANT) (167 Points)
Replied 24 November 2017

grounds of disqualification are given in sec 164 of co act 2013 please go through it

1 Like

yogesh (ARTICLE ASSISTANT) (167 Points)
Replied 24 November 2017

there is no formal qualifications is requiered to become the director hence any person who has attained the age of 18 yrs & is not disqualified u/s 164 can be appointed as director

1 Like

yogesh (ARTICLE ASSISTANT) (167 Points)
Replied 24 November 2017

all the directors have same rights duties & power. there is no difference between director of pvt co or public co

1 Like

Ankit Agarwal (Student) (86 Points)
Replied 25 November 2017

section 164 gives grounds for disqualification, also 167 can be reffered along with it..

1 Like

Ankit Agarwal (Student) (86 Points)
Replied 25 November 2017

any person who has DIN can be a director.. DIN to be obtained u/s 153

1 Like

Chirag (Professional) (1979 Points)
Replied 21 December 2017

Director are under the fiduciary duty for company as well as to shareholders and this responsibility more enhanced in case of listed company ,Ultimate provision of Sec.164 is that No person who cannot provide best judgement for the interest of company or involve in past any criminal activity will be disqualified to act as a director ,Like
Unsound Mind /Lunatic
Insolvent /Undischarged Insolvent
Sentenced for 6 Months or more in Any case and 5 Yrs not elapsed or Permanently disqualified if sentenced for 7 Yrs
Convicted In Related Party Transaction
Director of a company which not filed it's FS/Annual return for past 3 Yrs consecutively and 5 Yrs not elapsed from first default
Not have DIN
order by any court / Tribunal disqualifying him to act as a director and order still in force
Not paid any calls on shares from 6 Months