Section 5 also applicable for Nominee Director

Last updated: 19 July 2011

Notice Date : 14 July 2011

General Circular No.47/2011

No.2/13/2003/CL- V

Government of India

Ministry of Corporate Affairs

5th Floor, Shastri Bhavan,

Dr. Rajendra Prasad Road,

New Delhi-110001,

Dated the 14^th July, 2011

To,

All Regional Directors,

All Registrars of Companies,

All Official Liquidators.

Sub: Prosecution of Directors – Regarding

Sir,

I am directed to refer to this Ministry’s General Circular No. 08/2011 dated 25.03.2011 on the subject cited above and to state that the nominee director on behalf of Public Financial Institutions, Financial Institutions and banks on the board of companies should also be treated in the same manner as provided in the para 2 of the said Circular.

Yours Faithfully

-sd/-

(Monika Gupta)

Assistant Director