Disqualification of Directors under Section 164(2) Companies Act: What the Delhi HC heldNovember 7 2019
The Delhi High Court has held that the disqualification of directors under Section 164(2) of the Companies Act cannot be applied retrospectively.
The Single Judge Bench of Justice Vibhu Bakhru held,
"Concededly, Section 164(2) of the Act operates prospectively. However, such prospective operation would entail taking into account failure to file the financial statements pertaining to the financial year ending 31.03.2014 on or before 30.10.2014. This Court is of the view that the . . .
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