If a company has committed any default under 164(2)(a) or 164(2)(b), than as per companies amendment act 2017, can a director continue the office in the defaulting company till the expiry of his tenure of appointment if:-
Case 1: He has been appointed for less than 6 months till date of default
Case 2: He has been appointed for more than 6 months till date of default.
Thanks!!
1) Yes, but he has to file the annual return or FS or pay divided/interest/debenture/deposit with in 6months from his appointment
2) Till the expiry of his termn he can continue, after that he can't, However if get permission from court he can eligible again.
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