Disqualification of Directors


Disqualification of Directors

🤷‍♀️All you need to know on Disqualification of Directors u/s 164(2)

Reasons for Disqualification of a Director

  • When a company fails to pay interest on deposits or reimburse a deposit it has received.
  • If the organisation fails to pay the required interest or redeem the debentures by the due date.
  • Failure to pay the declared dividend and continuing to do so for more than one year may result in the company’s director being disqualified.
  • If the director has applied for insolvency adjudication
  • If the director has been previously disqualified by a court.
  • If the board of directors fails to disclose their or joint ownership interests in any corporation.
  • If the director has been convicted of a crime and sentenced to more than 6 months in prison by a court.
  • If a court determines that the director is mentally ill.
  • If the company’s director is found guilty under section 188 of the Criminal Code for party transactions made by the director in the previous five years.
  • Directors who are still insolvent can be disqualified by the court.

FREE ADVISOR CONSULTATION
📞+91 - 81222 89593 / +91 - 81221 83745
📩support@kanakkiyal.com





Comments

Post a Comment

Popular posts from this blog

One-Person Company (OPC) Registration in India

Image
One-Person Company (OPC) Registration in India The One Person Company is a company that has only one person as a member, as stated under the section 2(62) of the Companies Act, 2013. It was introduced to encourage individuals who are capable of starting their own business.OPC enables a sole proprietor to convert his firm into a Limited Liability company and avail the benefits of a Company. Documents Required for One Person Company Registration Passport or PAN card Passport size photo Specimen signature No objection certificate Rental agreement Address proof of directors Identity proof of directors For NRIs and foreign nationals, a passport Voter id Drivers license Updated gas or electricity bills Bank account statements, and phone bills for mobile or landlines A sample signature. The following listed are the benefits or the advantages annexed with the concept of registration of One Person Company: No Minimum Capital Requirement For obtaining One Person Company...
Read more

Obtain Barcode Registration in India!

Image
What is a Barcode? Those vertical lines that you can see on any product when you are out shopping are called a barcode. It is basically a machine-readable image and is encrypted with parallel vertical lines with spacing and numbers, uniquely identifying each product. Often, when at a store, a product could be out of stock which can be quite disappointing. With a barcode, this issue can be resolved within seconds as the store clerk can check on his or her database and let you know which branch the required item will be available. This is an international process and makes the identification of items beyond convenient and easy.   Advantages of Barcode Registration Be it anywhere, malls, cinemas, general stores, grocery stores, supermarkets, etc. a barcode registration proves to be a beneficial process for all. A few of its inherent advantages include; Easy Identification of the Product details – It is a global identification or recognition system that helps to scan the prod...
Read more
Image
Form INC-20A Form INC-20A is a mandatory form and it needs to be filed by every Private Limited Company or Public company which is incorporated on or after 2 nd  November 2018. Which Companies are liable to file this Form? This Form should be filed by the below type of companies which are incorporated on or after 2 nd  November 2018: – All Private Limited Companies All Public Companies Companies limited by guarantee and Having Share Capital INC-20A e-Form Filing in India INC 20A: Declaration of Commencement of Business Mandatory Compliance has been introduced by the MCA as per the latest ordinance of 2018. It is called eForm INC 20A. According to the aforementioned ordinance. No company that has been incorporated on or after 2nd November 2018 can commence the business unless they have filed the following declaration through eForm INC 20A to the Registrar of Companies (ROC): Every subscriber to MOA has paid the value of shares agreed to be ta...
Read more