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Section 274(1)


CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709)     13 May 2013

CS MOHIT SALUJA
PRACTICING CS Jalandhar 9914558709 
 198 likes  4638 points

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In respect to Section 274 (1), there are some queries, if some one can solve out please:

1. a director shall be disqualified to become a director of any public company, if the company in which he is a dirctors ahs not filed annual accounts for a consective period of 3 years. Further in explanation, it is given that the rule shall also apply to re-appoinment. It means that in every annual general meeting, when the director is to be retire by rotation, he will not be r-appointed for a period of 5 years as he is dis qualified director now.

2. if the company file all its accounts in the 4th year, will the director become the qualified director and can be appoined in other public limited company?

3. It is the responsibility of the company to file Form DD-B in case ther are disqualified directors otherwise the oficers of the company u/s. 5 of companies act will be the officers in default. As all he directors are disqualified in such company, hen who will file form DD-B.

ABHISHEK KUMAR JAIN (Company Secratery in Practice)     14 May 2013

ABHISHEK KUMAR JAIN
Company Secratery in Practice 
 33 points

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Hi Mohit,

 

As per my knowledge, Disquisition of director will end after the fifth financial year from the date when disqualification start i.e. end of due date of filing annual accounts & annual return (both) of 3rd f.y..

and Disqualified director are not being eligible for appointment or reappointment but they can fille the form DD-B with ROC.

 

 


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