Originally posted by : Ankur Garg |
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Thanks for the trust. However would advice you to wait for other opinions.
Also try to connect section 203 and 388E with the basic need of consent letter and section 267 and 274. Am quite sure that you'll be able to figure out the reason yourself.
Regards |
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Hello sir,
with the reference to the consent letter of a director for appointment, sec 203 needed not be specificially stated as disqualification, as it has been already has been includeda under 274. need your advice regarding it sir
DISQUALIFICATIONS OF DIRECTORS.
(1) A person shall not be capable of being appointed director of a company, if -
(a) he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force ;
(b) he is an undischarged insolvent ;
(c) he has applied to be adjudicated as an insolvent and his application is pending ;
(d) he has been convicted by a Court of any offence involving moral turpitude and sentenced in respect thereof to
imprisonment for not less than six months, and a period of five years has not elapsed from the date of expiry of the
sentence ;
(e) he has not paid any call in respect of shares of the company held by him, whether alone or jointly with others, and
six months have elapsed from the last day fixed for the payment of the call;
(f) an order disqualifying him for appointment as director has been passed by a Court in pursuance of section 203 and
is in force, unless the leave of the Court has been obtained for his appointment in pursuance of that section ; or
1[(g) such person is already a director of a public company which, -
(A) has not filed the annual accounts and annual returns for any continuous three financial years commencing on and
after the first day of April, 1999 ; or
(B) has failed to repay its deposit or interest thereon on due date or redeem its debentures on due date or pay
dividend and such failure continues for one year or more :
Provided that such person shall not be eligible to be appointed as a director of any other public company for a period
of five years from the date on which