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Prakash (AGM)     14 April 2014

Companies act, 2013, section 164

Dear All,



As the new Companies Act, 2013 has made it mandatory to file both, annual
accounts and annual return (Earlier it was "Or" meaning thereby if any of
them is filed, Directors shall not be disqualified) with the Registrar of
Companies, I have the following queries:



1) Shall the period of 3 consecutive years be calculated in respect of
financial years commencing on or after this date i.e. 01st April, 2014 only
or the directors of those companies who have not filed their financial
statements or annual returns for 3 consecutive financial years prior to this
date, shall also incur disqualification?



2) Shall the director of such a company which has not filed their financial
statements or annual returns be disqualified to hold directorship in any
other company with immediate effect?



3) Is there any moratorium period during which the default committed by the
company can be made good and the director of such company is saved from the
disqualification?



4) What are the implications if the office of director become vacant under
section 167 of the Companies Act, 2013?

Thanks

Prakash 


Learning

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