DISQUALIFIED DIRECTORS – REMEDIES AVAILABLE
During the months of June – August 2017, the Registrars of Companies have struck off the names of 200,000 (Two Lakhs) Companies under section 248 of the Companies Act, 2013 from their registers. The list is available on the websites of various RoCs. In continuation, Prime Minister Mr. Narendra Modi in his speech at ICAI on CA day has hinted for scrutiny of 300,000 (Three Lakhs) Companies, which can be struck off u/s 248(1) in future. As a result of the above the Directors of the said Companies have been disqualified as per section 164 of the Act which has restricted them from accessing their Companies bank accounts. Also the Ministry of Corporate Affairs (MCA) has blocked the DINs of all the disqualified directors under Companies Directors Identification Number Rules,…