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section 274 (1) (g)

Shridhi Jain (Company Secretary) (1678 Points)

31 December 2010

Frnds,

Is declaration u/s 274 (1)(g) is required to be given by the director of private limited co., if he is also a director in other public ltd. co. ?

Regds,

Shridhi jain

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5 Replies

Arvind Sharma (ACA) (1432 Points)
Replied 31 December 2010

Section 274(1)(g) governs with respect to Compnay., not with respect to Director....

If a person being director of Pub Co. has commit fault as specified under that provision, then he still can become Director of Private Company....

Further, if he has done default wrt Private Company nd want to be director of Public Company., he can be....

So, no need to cerfy to become Director of Private Com...

Thats what I understand.., other's views are welcome....

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nidhigoel89 (Company Secretary ) (594 Points)
Replied 31 December 2010

Hello Everyone!

My point of view is

Thats very true that Sec 274(1)(g) is not applicable on private co. Bt this sec is more centralize on directors(or individuals) declaration that weather he is disqualified or nt. ..............

.And for a auditor its necessary to give declaration that the directors of that co are disqualified under 274 1g or nt. So its better to take declaration from the director irrespective of the status of the co.....................

Regards

Nidhi

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HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 31 December 2010

agree with nidhi take declaration so that no dispute later on.

sanjay (FCA) (322 Points)
Replied 02 January 2011

yes directors declaration should be taken by auditor

Jayashree S Iyer (Company Secretary) (3224 Points)
Replied 03 January 2011

While filing Form 32, the company confirms that the appointed director has given a declaration in writing that he is not disqualifed under Section 274, 203 and 388E of the Companies Act. Hence it is necessary to obtain the same. When you take declaration under section 274 it includes 274(1) (g) also.