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Sec-274(1)(g) of companies act

Final 1478 views 1 replies

jatin

article assistant

30 Points Joined January 2010

whether a Director disqualified u/s 274(1)(g) can be appointed as director in a public or pvt company after making the default good......??????????

the example is given below for clarity

Example: Mr Z is already a director of A Ltd. A Ltd Becomes a "Defaulting Public Company". Mr Z is Disqualified U/s 274(1)(g). whether Mr Z can obtain fresh appointment immediately in the other Pvt or Public Company after such defaulting public company has made its default good while he is still continuing in the deagaulting public company?

Replies (1)

GOPAL AGARWAL

CA (FINAL) CS FINAL STUDENT

159 Points Joined December 2009

Dear Jatin,

First of all 274(1)g of the companies Act does not apply to the private companies,

Secondly even the company makes the default good the director cannot be appointed in the other piblic company for the next 5 years , but if the company makes the default good before the due date then director can be appointed in the other public company,

Again to revine u even the company makes default u/s 274(1) g defaulting person can be appointed as director in the pvt. com. , In private company thissection does not attract.

in u example mr. z can become the director immidately in the private company.

in the companies bare act it is not mentione whether the private company is attracted or not, but our sir Mr. Ami Bachhawat has taught us this concept and in the CA. institute aslo the same concept is given

if i m wrong anywhere pls correct me

thanking you

Gopal Agarwal