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Removal Of Director Disqualification

REMOVAL OF DIRECTOR DISQUALIFICATION-

  • The Director is failed to file financial statements or annual returns for consecutively for 3 financial years; or
  •  The Director is not repaid the deposits taken or paid interest or redeemed any debentures, such failure to pay or redeem has taken place for one year or more, He/she shall also not be eligible to be re-appointed as a director of that company or any other company for a period of 5 years from the date.
  •  The Director is of unsound mind and stands so declared by a competent court.
  •  The Director is an undischarged insolvent.