Companies Act 1956
(Querist) 15 November 2009
This query is : Resolved
Can you please confirm,as to whether subsection (1) clause (g) subclause (A) of Section 274 of the Companies Act 1956, regarding disqualification of directors for 5 years for non filing of annual accounts & annual returns for any / last continuous three years, is applicable to a Private Limited Company (limited by shares) which is not a subsidary of any Public Limited Company, even though the articles of association (of the Private Limited Company) does not provide for the same.
Is there any jugdement's passed by the SC or HC on the above subject?.
(Expert) 01 March 2010
Kindly be informed that section 274(1)(g) of the Companies Act 1956 is an implied section. It is not necessary that the AOA should contain the said clauses regarding the disqualification. What Act provides is that the Pvt Lt Co which is not a sub of a pub ltd may contain any additioonal ground(s) in the AOA other that specified in the Act itself.