What is Directors Disqualified?

InstaFinancials is the first company to give information of directors on Disqualified u/s 164(2) and Directors DIN Deactivation, as per Ministry of Corporate Affairs Section 164(2) of the Companies Act, 2013,

1. Wh at is Directors Disqualified?

2. The person has an unsound mind and a competent court has declared it. The person is an undischarged insolvent. The person is an undischarged insolvent; and has applied to be adjudicated as an insolvent and his application is pending. Directors Disqualified as per MCA Section 164(2) of the Companies Act, 2013

3. The person is convicted by a court of any offense and sentenced for not less than 6 months and a period of 5 years has not transpired from the date of expiration sentence A court or Tribunal has passed an order disqualifying him for appointment as a director and the order is in force. He has not filed financial statements or annual returns for any continuous period of three financial years. Directors Disqualified as per MCA Section 164(2) of the Companies Act, 2013

4. The shares of the company that are held by him, he has not paid any calls in respect of any shares. Whether shares held alone or jointly with others, and six months have elapsed from the last day fixed for the payment of the call. He has been convicted of the offense dealing with related party transactions under section 188 at any time during the last preceding five years. . Directors Disqualified as per MCA Section 164(2) of the Companies Act, 2013

5. He has failed to repay the deposits accepted by it or to redeem any debentures on the due date . He has failed to pay interest due or pay any dividend declared and such failure to pay or redeem continues for one year or more. S hall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so. . Directors Disqualified as per MCA Section 164(2) of the Companies Act, 2013

6. InstaFinancials is an award-winning startup offering corporate intelligence and early warning solution to various financial institutions, corporate professionals and Govt. organizations in India. Annually, 2+ Lakh business development and corporate credit decisions are empowered by the insights we are offering. InstaFinancials is incubated by SAP Labs and Accelerated by Axis Bank Limited. We are proud data partners of Economic Times. www.InstaFinancials.com . About InstaFinancials