Welcome to Amit Kumar Gupta Advocate

amitkrg246@yahoo.com
+91 9811291390

Ask a Query


Client Login

Disqualifications for appointment of director 

 (1) A person shall not be eligible for appointment as a director of a company, if—

(a)   he is of unsound mind and stands so declared by a competent court;
(b)   he is an undischarged insolvent;
(c)   he has applied to be adjudicated as an insolvent and his application is pending;
(d)   he has been convicted by a court of any offence, whether involving moral turpitude or otherwise, and sentenced in respect thereof to imprisonment for not less than six months and a period of five years has not elapsed from the date of expiry of the sentence:
    Provided that if a person has been convicted of any offence and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be appointed as a director in any company;
(e)   an order disqualifying him for appointment as a director has been passed by a court or Tribunal and the order is in force;
(f)   he has not paid any calls in respect of any shares of the company held by him, whether alone or jointly with others, and six months have elapsed from the last day fixed for the payment of the call;
(g)   he has been convicted of the offence dealing with related party transactions under section 188 at any time during the last preceding five years; or
(h)   he has not complied with sub-section (3) of section 152.
[(i)   he has not complied with the provisions of sub-section (1) of section 165.]

(2) No person who is or has been a director of a company which—

(a)   has not filed financial statements or annual returns for any continuous period of three financial years; or
(b)   has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one year or more,

shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so:

[Provided that where a person is appointed as a director of a company which is in default of clause (a) or clause (b), he shall not incur the disqualification for a period of six months from the date of his appointment.]

(3) A private company may by its articles provide for any disqualifications for appointment as a director in addition to those specified in sub-sections (1) and (2):

[Provided that the disqualifications referred to in clauses (d), (e) and (g) of sub-section (1) shall continue to apply even if the appeal or petition has been filed against the order of conviction or disqualification.]
Amit R Gupta

Our Services

Insurance Services

We offer comprehensive Insurance Services systems maintained by trained accounting.

Legal Services

 We offer comprehensive Legal Services systems maintained by trained accounting pr.

Investment Services

We offer comprehensive Investment Services  systems maintained by trained accoun.

Finance Services

 We offer comprehensive Finance Services systems maintained by trained accounting .

Due Diligence and Advisory Ser

We offer comprehensive Due Diligence and Advisory Services systems maintained by traine.

Corporate Services

We offer comprehensive Corporate Services systems maintained by trained accounting.

AMITRGUPTA

What We Do

Tax Consulting

We offer comprehensive Tax Consulting  systems maintained by trained accounting professionals. This local service coul...

READ MORE

Due Diligence

Investors, bankers and acquirers rely on Due Diligence as a standard of care during Mergers and ...

READ MORE

Taxation Services

We offer comprehensive Taxation Services systems maintained by trained accounting professionals. This local service could be...

READ MORE