Must know provisions for a Director of a Company under Companies Act 2013

Must know provisions for a Director of a Company under Companies Act 2013

 

•      Before appointing a director in a public or private Company, he should be qualify under section 164 of the Companies Act 2013. 

•      Apart from other disqualifications like unsound mind or undischarged insolvent, he should possess DIN (Directors Identification Number) before appointing as a director of Company and he should not be convicted of the offence dealing with related party transactions under section 188 of the Companies act 2013 at any time during the last preceding 5 years. 

•      Further a person who is or has been a director of a company which has not filed financial statements or annual returns for any continuous period of three financial years or has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one year or more. 

•      Company Secretary need to obtain declaration from the director before he is appointed or reappointed in Form DIR 8 that he is disqualified and can be appointed as director.

•      This compliance will be checked by secretarial Auditor at the time of Secretarial Audit. 

•      Private Company can provide extra disqualifications in its Articles of Association in addition with those provided in the act. 

Thank you:

     Megha Aggarwal

    

www.makbizadvisors.com

268, Business India Complex,

Uday Park, New Delhi-110049

Call us : +91 9555250231

LIST OF RESOLUTION OR ARRANGEMENTS NEED TO BE FILED WITH ROC IN MGT-14 

 

FORMAT OF LETTERHEAD AS PER COMPANIES ACT 2013

 

Comparative analysis of sections of Companies Act 2013 with Companies Act 1956