can u tell me how a director is vacated his office from a private company...?
at the same time wat r the liabilites he has to borned............?
venkata giri (senior consultant) (78 Points)
15 November 2012can u tell me how a director is vacated his office from a private company...?
at the same time wat r the liabilites he has to borned............?
Tanveer Md Masood
(Indispensable)
(361 Points)
Replied 15 November 2012
Dear Mr.Giri,
Sec.274 of the companies Act, 1956 provides for disqualification of a director _
A person of 1.unsound mind 2. conviction in case of moral turpitude 3. inability to pay call on shares purchased and he most important clause being sec.274(i)g which states inability to file annual returns and annual accounts for three consecutive fy for any company formed after April 1, 2000.
Moreover, in case of private company a director who breaches the threshold limit of 15 directorship can be removed from the sixteenth company.
For more, experts can give in their views.
Regards,
Tanveer Md Masood
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