Sec. 274 (1) (g)
This query is : Resolved
Guest
Guest
(Querist)
11 April 2009
Sir, section 274 (1) (g) of companies act, 1956..... is this section applies to private companies as well or only for public companies?
Whether a director of private co. if disqualified on the same terms as mentined in above section then can he be appointed as a director in another private company?
Whether a director of private co. if disqualified on the same terms as mentined in above section then can he be appointed as a director in another private company?
11 April 2009
director of a private company is not disqualified but public co. is disqualified for appointment in a pvt. co.
11 April 2009
DISQUALIFICATION APPLICABLE FOR APPOINTMENT OF A DIRECTOR OF A PRIVATE COMPANY
Disqualification under section 274 (1) (g) is applicable for appointment of directors both in public as well as private companies. Thus, a person who has attracted disqualification, will not be capable of being appointed as a director even of a private company.
DISQUALIFICATION APPLICABLE FOR APPOINTMENT OF A DIRECTOR OF A PRIVATE COMPANY
Disqualification under section 274 (1) (g) is applicable for appointment of directors both in public as well as private companies. Thus, a person who has attracted disqualification, will not be capable of being appointed as a director even of a private company.
11 April 2009
http://www.vmandaonline.com/ARTICLES/274-Disqualification.doc
11 April 2009
In your case, the director of a private co is eligible to become a director of another private company.
Sec 274 (1) (g) says: -
A person shall not be capable of being appointed director of a copany if:
-- such person is already a director of a public company which
(i) has not filed the annual accounts........ and;
(ii) has failed to repay its deposits..........
This section is pretty clear that only if a person is a director in public company which has made default as mentioned above, can not become director in any company.
In your case, the director of a private co is eligible to become a director of another private company.
Sec 274 (1) (g) says: -
A person shall not be capable of being appointed director of a copany if:
-- such person is already a director of a public company which
(i) has not filed the annual accounts........ and;
(ii) has failed to repay its deposits..........
This section is pretty clear that only if a person is a director in public company which has made default as mentioned above, can not become director in any company.
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