Removal of Director Disqualification
After MCA in mass disqualification, disqualified approximately 3.09 lakhs directors of the company and obstructed their DIN. It was then that the abused director approached to look for the answer for this issue. Because of this supplication, the Condonation of delay scheme was conceived. The MCA disqualified directors for a period of five years.
There are two conditions in which the chief can be precluded:
- In the event that the directors have neglected to submit the yearly returns and the financials for a long time.
- In the event that the directors have not repaid the deposit that they have taken or has not paid any intrigue or has not paid any debentures. At the point when this occurs for 1 entire year, at that point likewise the executive is shut.
At the point when a chief is precluded, it doesn’t influence the organization because of the organization’s never-ending nature. For this situation, an impermanent new executive is employed for now. The other work force of the organization go in this direction in the wake of recording the majority of the past due returns. When they have satisfied their profits up to the ongoing date, at exactly that point would they be able to procure another chief.
In any case, what you need here is restoration as an executive. This is a long and laborious procedure that you would require right hand to experience. Subsequently, CoTaxo, through its experience and specialists is here to help you with the goal that you can recapture your situation as the chief of the organization.
- Drafting a Writ Petition
- Filing with the high court
- Send your legal representatives
- Obtain the final order from the court
- File the compliance documents and adhere to high court’s orders
- Get reinstated and MCA shall reactivate your DIN
||Preparation of documents & submit in High Court
||Obtain order and follow HC order
||Follow up with MCA and activation of DIN