Removal of Directors Disqualification
Directors Disqualification can occur due to non compliance of the Companies Act 2013. Directors Disqualification can be removed after fulfilling and adherence to rectification of non-compliance.
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- Any Director who fails to file Annual Financial Statement in the form of Annual Return to the Registrar of Companies consecutively for three financial years.
- Any Director who unable to repay deposits along with accrued interest thereon and such delay continues for more than one year.
- Any director who is declared as insolvent
- Any director who is declared as unsound mind
- Any director who has been sentenced for imprisonment for not less than six months by any competent court, shall be disqualified.
- Any director who has been sentenced for imprisonment for not less than seven years, shall be disqualified permanently.
- Any director who fails to pay call on the shares and such default continues for more than six months.
- The first step towards removing of director disqualification id to file a writ petition before the high court.
- Writ petition must comprises of memo of parties to petition, notice of motion, synopsis of list of date and events, stay application u/s 151 of CPC.
- Application shall be made before NCLT u/s 252 of the Companies Act 2013 for those companies whose name got struck off in disqualification.
- Application to RoC in CRF (Change Requirement Form) regarding activation of DIN.