Redemption Opportunity For Disqualified Directors

Ministry of Corporate Affairs (MCA) in September 2017, identified many directors associated with the companies that had failed to file financial statements or annual returns for a continuous period of three financial years 2013-14, 2014-2015 and 2015-2016 and consequently they became disqualified as per sec 164 (2) of the companies act 2013, to act as Directors.

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Due to the Directors became disqualified to act as Director, the other companies which were active and running their business were also suffered who have on their board the aforesaid disqualified Directors.