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Experts on Insolvency & Bankruptcy Code
  • Sec 164

    by Chirag on Tuesday, May 14, 2019 at 06:24 PM

    Dear Sir, If a company fails to pay interest on deposits for 1 yr or more , then director will be disqualified from all other companies for 5 yrs. And he will also not be re-appointed in defaulting company for 5 yrs. Query- If such defaulting company pays interest after 1 year, then such disqualification on director will get removed or not ?? 2) If director of the company is absent for 3 months and he is present is India , then whether Alternate director can be appointed ??

    Replied byV. S. Datey Wednesday, May 15, 2019 at 08:59 AM

    1. no such specific provision 2. no V S Datey

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