S.164(2) Of Companies Act 2013 Has No Retrospective Application Before 2014-15 FY : Supreme Court's Prima Facie View
7 months, 3 weeks ago

S.164(2) Of Companies Act 2013 Has No Retrospective Application Before 2014-15 FY : Supreme Court's Prima Facie View

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The Supreme Court has expressed prima facie agreement with a judgment of the Allahabad High Court that Section 164 of the Companies Act 2013, which provides for the disqualification of directors due to non-filing of balance sheets and annual returns for any continuous period of three financial years, has no retrospective application to the periods preceding Financial. The Supreme Court has expressed prima facie agreement with a judgment of the Allahabad High Court that Section 164 of the Companies Act 2013, which provides for the disqualification of directors due to non-filing of balance sheets and annual returns for any continuous period of three financial years, has no retrospective application to the periods preceding Financial Year 2014-15. A bench comprising Justices Sanjiv Khanna and Sanjiv Kumar posted the matter for further consideration in the week commencing from December 12, 2024. The operation of the provision was notified on April 1, 2014, and several High Courts have given different views on whether it will apply retrospectively or prospectively.

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History of this topic

Indirect Tax Cases Weekly Round-Up: 26 May To 01 June 2024
9 months, 2 weeks ago

Indirect Tax Cases Weekly Round-Up: 26 May To 01 June 2024

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Madras High Court No Embargo On Commercial Tax Dept. Allahabad High Court S.75 CGST | Allahabad HC Directs Commissioner To Take Disciplinary Action Against Adjudicating Authorities Violating PONJ Without Justifiable Reasons Case Title: Ns Agro And Engineering Products v. State of U.P. Franchise Agreement Granted Non-Exclusive Licence Rather Than Transfer Of Right To Use Goods, VAT Not Payable: Allahabad High …

Civil Services Regulation | Can't Withhold Pension Under Regulation 351A For Incident Which Occurred 4 Yrs Prior To Retirement: Allahabad HC
1 year ago

Civil Services Regulation | Can't Withhold Pension Under Regulation 351A For Incident Which Occurred 4 Yrs Prior To Retirement: Allahabad HC

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The Allahabad High Court has held that no action under Regulation 351-A of the Civil Services Regulation can be taken for an incident which took place four years prior to the retirement of the employee. Pursuant to the orders of the High Court against the show cause notice, a letter was issued to the petitioner stating that the provision had …

'Public At Large Cannot Be Put To The Whim & Fancy Of Recalcitrant Directors': Calcutta HC Upholds Disqualification Of Directors U/S 164(2) Of Companies Act
3 years, 1 month ago

'Public At Large Cannot Be Put To The Whim & Fancy Of Recalcitrant Directors': Calcutta HC Upholds Disqualification Of Directors U/S 164(2) Of Companies Act

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The Calcutta High Court on Friday observed that the provisions for disqualification of directors due to non-filing of balance sheets and annual returns as envisaged under Section 164 and Section 167 of the Companies Act, 2013 is aimed at ensuring probity and the highest standard of governance in both private and public companies. Ltd pursuant to Section 164 of the …

Section 164(2) Companies Act Not Retrospective; Default Before 2014-15 FY Can't Be Considered : Kerala High Court
3 years, 9 months ago

Section 164(2) Companies Act Not Retrospective; Default Before 2014-15 FY Can't Be Considered : Kerala High Court

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The Kerala High Court on Wednesday dismissed a batch of petitions challenging the disqualification of around 250 Directors of Companies under Sections 164 and 167 of the Companies Act and issued a set of directions and declarations regarding the concerns raised in the petitions. Disqualification based on default prior to 01.04.2014 bad in law and set aside The petitioners argued …

Delhi HC To Hear Challenge Against Disqualification Of Directors Under Sec.164(2)(a) Of Companies Act
5 years, 7 months ago

Delhi HC To Hear Challenge Against Disqualification Of Directors Under Sec.164(2)(a) Of Companies Act

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The Delhi High Court on Monday Cissued notice to Registrar of Companies as well as the Union of India to file counter-affidavits in a PIL challenging the validity of section 164 of the Companies Act, 2013. The petitions were filed in consequence of the September 2017 notification of the Ministry of Corporate Affairs that disqualified a number of directors of …

Disqualification Of Directors : Companies Act 2013 Takes Effect Only From FY 2014-15; Gujarat HC Quashes MCA List [Read Judgment]
6 years, 2 months ago

Disqualification Of Directors : Companies Act 2013 Takes Effect Only From FY 2014-15; Gujarat HC Quashes MCA List [Read Judgment]

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The Gujarat High Court has quashed the list of disqualified directors published by the Ministry of Corporate Affairs on September 12, 2017. The Court held that Section 164 of the Companies Act is prospective in nature and will take effect only from its date of notification, viz, April 1, 2014.In September 2017, the MCA had published a list of nearly …

Corporate Life Extinguished Without Being Heard: Madras HC Sets Aside RoC’s Order Disqualifying Pvt Firms’ Directors For Non-Filing Of Financial Statements [Read Order]
6 years, 7 months ago

Corporate Life Extinguished Without Being Heard: Madras HC Sets Aside RoC’s Order Disqualifying Pvt Firms’ Directors For Non-Filing Of Financial Statements [Read Order]

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The Madras High Court has set aside the disqualification of directors of private companies for failure to file annual returns/ financial statement for three consecutive years saying the same the disqualification was disproportionate to the lapse as the default.Justice T Raja said the Registrar of Companies cannot disqualify directors, over 35,000 in number, for the financial years. By virtue of …

Corporate Life Extinguished Without Being Heard: Madras HC Sets Aside RoC’s Order Disqualifying Pvt Firms’ Directors For Non-Filing Of Financial Statements [Read Order]
6 years, 7 months ago

Corporate Life Extinguished Without Being Heard: Madras HC Sets Aside RoC’s Order Disqualifying Pvt Firms’ Directors For Non-Filing Of Financial Statements [Read Order]

Live Law  

The Madras High Court has set aside the disqualification of directors of private companies for failure to file annual returns/ financial statement for three consecutive years saying the same the disqualification was disproportionate to the lapse as the default.Justice T Raja said the Registrar of Companies cannot disqualify directors, over 35,000 in number, for the financial years. By virtue of …

Delhi High Court Upholds Validity Of Section 132(4) Of Companies Act And National Financial Reporting Authority Rules
12 years, 1 month ago

Delhi High Court Upholds Validity Of Section 132(4) Of Companies Act And National Financial Reporting Authority Rules

Live Law  

The Delhi High Court has recently dismissed a challenge to the constitutional validity of Section 132 of the Companies Act, 2013 and Rules 3, 8, 10 and 11 of the National Financial Reporting Authority Rules, 2018. Section 132 Companies Act The petitioners argued that the retrospective operation of Section 132 of the Companies Act is illegal and against their vested …

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