08 December 2015
AFTER CLOSURE OF THE COMPANY, DIRECTOR'S DISQUALIFICATION PERSIST OR NOT, SPECIFICALLY U/S 164 (2)(DEFAULT IN FILING OF ANNUAL ACCOUNTS/ ANNUAL RETURN).
08 December 2015
As per sec 164(2),No person who is or has been a director of a company which - has not filed financial statements or annual returns for any continuous period of 3 years or - has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for 1 year or more.
shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of 5 years from the date on which the said company fails to do so.
CAclubindia
