Directors disqualified u/s 164 (1) of Companies Act, 2013 must file form DIR 8
- Blog|News|Company Law|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 24 January, 2023
Latest from Taxmann
Notification No. G.S.R……(E)., Dated 20.01.2023
The MCA has amended the Companies (Appointment and Qualifications of Directors) Rules, 2014. The amendment requires that directors disqualified under section 164(1) of the Companies Act must also file Form DIR-8 with the company. Earlier, the DIR-8 was required to file in case of disqualification under section 164(2). Further, the company is required to file Form DIR-9 with RoC within 30 days of receipt of DIR-8. Various changes in forms are also notified.
As per section 164(1) of the Companies Act, 2013, a person is disqualified to be appointed as a director of the company in the following cases–
(a) Person is of unsound mind and stands declared so by a competent court;
(b) Un-discharged insolvent;
(c) Person who has applied to be adjudicated as insolvent and his application is pending;
(d) Person convicted by a Court of any offence, whether involving moral turpitude or otherwise, and sentenced to imprisonment for not less than 6 months.
(e) Person who has not paid calls in respect of shares in the company whether alone or jointly with others and six months have elapsed from the last date fixed for payment of call;
(f) He has been convicted of an offence dealing with related party transactions under section 188 of the Companies Act, 2013, at any time during the preceding five years.
(g) If he has not obtained DIN as required under section 152(3) of the Companies Act, 2013.
(h) He has not complied with the provisions of section 165(1) (regarding restriction on the number of directorships) [this clause inserted vide the Companies (Amendment) Act, 2019 w..e.f. 2-11-2018.
(i) If Court or NCLT has passed the order disqualifying a person as a director and the order is in force.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
