Directors disqualification under 164(2) of co.act 2013
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2015
Dear Sir,
Please clarify when to give directors disqualification letter under Section 164 to the company by the directors for the Financial Year 2014-15. It should should be given at the beginning of the year i.e, 01.04.2014 or at the end of the year i.e, 31.03.2015 for the FY 2014-15?
Thanking you in Advance.
Please clarify when to give directors disqualification letter under Section 164 to the company by the directors for the Financial Year 2014-15. It should should be given at the beginning of the year i.e, 01.04.2014 or at the end of the year i.e, 31.03.2015 for the FY 2014-15?
Thanking you in Advance.
08 August 2015
http://taxguru.in/company-law/effect-of-companies-act-2013-on-directors-disqualification-section-164.html
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2015
Dear Sir,
Thank you for the reply.
But, the link which you had sent have not mentioned any date for submiting directors disqualification under Sec164 of Co.Act, 2013. please clarify the date to submit the directors disqualification with company(at the begining of the Year or at the end of the year for the FY 2014-15).
Thank you for the reply.
But, the link which you had sent have not mentioned any date for submiting directors disqualification under Sec164 of Co.Act, 2013. please clarify the date to submit the directors disqualification with company(at the begining of the Year or at the end of the year for the FY 2014-15).
08 August 2015
Hi,
The declaration under 164(2) should be given actually at the time of appointment or reappointment. It is not written anywhere in the Act that 'it should be given every year'.
But it is a general practice that every director shall give declaration for previous year at the beginning of every financial year. The one of the reasons for giving this declaration at the starting of year is that Auditor is required to make comment on this point in Auditors Report also.
The declaration under 164(2) should be given actually at the time of appointment or reappointment. It is not written anywhere in the Act that 'it should be given every year'.
But it is a general practice that every director shall give declaration for previous year at the beginning of every financial year. The one of the reasons for giving this declaration at the starting of year is that Auditor is required to make comment on this point in Auditors Report also.
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