Section 274 1 g of companies act

Under Section 274 1 g it states that not filed Annual Accounts and Annulal Return for consecutive previous three  financial years will fall under this section.

Dear Abhik

in your case, director of the public compny is not disqualified under section 274(1)(g) as company has not failed to file the annual accounts and annual return for 3 CONSECUTIVE years (in ur case it s for only 2007-08 and 2008-09).

Coming to the point the due date, due date for the annual accounts and annual return will be calculated seperately.

However the disqualification starts only from the later of the date. for example if a public company has failed to file annual accounts and annual return for 2007-08, 2008-09 and 2009-10, then the disqualification will start from 30th day of november (considering date of AGM is on 30th September).

 

 

Thanks & Regards

Cs Rajeev Nayak

 

If a public limited company fails to file the annual accounts and annual returns for the financial year 2007-2008 and 2008-2009 but files the annual accounts for the financial year 2009-2010  on 27-11-2010 , whether the directors of that company are disqualified under section 274 1 g if companies act? If yes , then plz explain the reason? 

Also Plz elaborate the concept of Last due date for filing annual accoints and annual return  in Director disqualification rules?  whether last due date will be calculated seperately for annual accounts and annual return or it should be considered  on consolidated basis i.e 30 November

Under section 274(1)(g) a Director shall not be capable of being appointed as director of a Company if such person is already a director of a public company which has not filed the annual accounts and annual return for any continuous three financial years. However, such person can only be disqualified to be appointed as director in any public company. However, he may continue to be director in other companies. And he may be appointed in Private Company. Only the restriction is for the appointment in Public Company.