Promoters Directors can nominate any person as a director to apply under CFSS Scheme 2020

Navneet Sahay Verma and another Vs. Registrar of Companies and another (Bombay High Court) The Petitioners, because of their disqualification, cannot apply under the Companies Fresh Start Scheme in respect of their companies. This Scheme is to end on 30 September 2020. They, therefore, seek a direction that they may be permitted to apply under the Scheme and for the said purpose their DIN should be activated. The petitioners raised a doubt as to the applicability of Section 167 (3) submitting that if the disqualified directors of the company were also promoters and if there are no other direct...