Disqualification of directors certainly is a hot topic among professionals practising corporate laws. Irrespectively of popular perception, the list compiled and released by Ministry of Corporate Affairs does not confer any disqualification to any director. These directors were already disqualified. In a serious violation, many of these directors might have failed to communicate about their disqualification to companies appointing or reappointing them after the actual date of disqualification. Such failure has penal consequences. This blog post will discuss serious consequences of the failure of compliance with law and procedures after incurring disqualification by a director.
Tag Archives: Strike – off companies
Connection of Director’s Disqualification to Fraud
Understanding Form DIR – 10
Many years ago one Hindu priest told me, those worshipping Laxmi ji (goddess of wealth) before without satisfying Ganesh Ji (god of goodness) may not get good wealth. We need to follow established a procedure to get the desired result. Without understanding utility of Form DIR – 10, its use may not give the desired result. Here, we will have a discussion.
Posted in Chapter XI - CA2013, Chapter XIX -CA2013, Chapter XVIII - CA2013
Tagged Annual Accounts, Annual Filing, Annual Returns, Disqualified Director, National Company Law Tribunal, Registrar of Companies, Removal of Name, Restoration of Companies, Shell Companies, Strike – off companies, Winding Up
Remedies for disqualified directors of strike – off companies
Compliance way or Confine way! The Government made it clear. Directors who were on a long-term picnic after removal of names of their “shell companies” are now offered sleepless nights. I appreciate.
Ministry of Corporate Affairs issued two important lists in this regard –
- List Of Directors Associated With Struck Off Companies U/S 248
- List Of Disqualified Directors U/S 164 (2)(A)
Posted in Chapter IX - CA2013, Chapter XI - CA2013, Chapter XVIII - CA2013, Chapter XXIX - CA2013, Companies Act 2013
Tagged Annual Accounts, Annual Filing, Annual Returns, Disqualified Director, National Company Law Tribunal, Registrar of Companies, Removal of Name, Restoration of Companies, Shell Companies, Strike – off companies, Winding Up