N K Rajesh (CS) (65 Points)
05 September 2009Hi Friends,
I have a doubt in Section 274(1)(g) - Disqualification of Director.
Doubt:
If a director is disqualified under this section wil he be re-appointed in the same company where he was orginally disqualified.
If no, can u pl explain the logic behind it.... Cos material suggest that the Director shall not appointed in a new company or re-appointed in the same company for a period of five years.
can any one tell the logic behind it???
MOHIT MAHAJAN
(LCS, ACA)
(2050 Points)
Replied 05 September 2009
Yes rajesh
after 5 yrs. the director can be again appointed in the same co. in which default occurred as well in any other co.
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 13 September 2009
No director can be reappointed in the same company even before 5 years as section 271(1)(g) states that he can not be appointed in any other company
further appointment includes reappintment....
where act is not clear people should see the intention behind it the intention of section 271(1)(g) is to penalise the director not the company , and to ensure that the director does not commiitt any such failure in any other company.
CAclubindia
