Case Law Details
Sandeep Agarwal & Anr. Vs. Union of India & Anr. (Delhi High Court)
A BIG JUDGEMENT GIVEN ON THE MATTER UNDER CFSS SCHEME 2020:
Delhi High Court Orders Ministry of Corporate Affairs To Set Aside Disqualification of Directors on June, 2017 In Light of Companies Fresh Start Scheme, 2020 (CFSS 2020)
The Petitioners – Mr. Sandeep Agarwal and Ms. Kokila Agarwal, both of whom are directors in two companies namely Koksun Papers Private Limited (hereinafter, “Koksun Papers”) and Kushal Power Projects Private Limited (hereinafter, “Kushal Power”). The name of Kushal Power was struck off from the Register of the Companies on 30th June, 2017, due to non-filing of financial statements and annual returns. The Petitioners, being directors of Kushal Power were also disqualified with effect from 1st November, 2016 for a period of five years till 31st October, 2021 under Section 164(2)(a) of the Companies Act, 2013 (hereinafter, “Act”). Pursuant to their disqualification, their Director Identification Numbers (“DIN”) and Digital Signature Certificates (“DSC”) have also been cancelled. In view thereof, they are unable to carry on the business and file returns etc. in the active company Koksun Papers.
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