After the article published by some journalist on Supreme Court Order stating that “Supreme Court stays Bombay High Court order along with all other High Courts granting relief to disqualified directors” which created a pandemonium situation among all the disqualified directors considering the Legitimacy of all existing orders and future situations.
Here we would like to share facts of the order passed by Supreme Court whose interpretation was done wrongly and huge chaos is created.
“The order dated 6th August 2018 passed against the appeal in which the 10 petitioners challenged their disqualification as directors under Section 164 sub-section 2 of the Companies Act 2013, further the petitioners desired to avail the CODS -2018, CONDONATION OF DELAY SCHEME 2018, However they have been disabled from availing the benefits of CODS because the company never carried on their business since the date of inception hence the petitioners are not able to seek revival of company through NCLT Route. Further they submitted that they voluntary seek dissolution of the company under Section 248 sub-section 2 of Companies Act 2018, if they are given opportunity to do so. The Respondent UNION OF INDIA submitted that if the company never carried out any business, so they ought to have applied for the status of Dormant Company under Section 455 of Companies Act 2013.
This clearly means that Supreme Court order does not have any impact on interim stay on DIN DISQUALIFICATION granted by Delhi High Court.
Further to add to the situation Delhi High Court has granted interim stay on Directors Disqualification on 10th August’2018 also hereby proving the above facts.
DON’T GET MISLEAD by the Supreme Court order a Writ Petition in the Delhi High Court for Removal of Directors Disqualification is still a way out.
A Writ Petition in the High Court for Removal of Directors Disqualification is a way out
Writ Petition in the High Court for Removal of Directors Disqualification
*In case you are not willing to revive your company or your company is not eligible for Revival or the same is not in operations or if Bank Account is not available, then you can file Writ Petition in High Court and get immediate interim relief. Whole process can run in 10 Days.
The Process Ahead
The whole process takes about 10 days.
Author:- Sharlee Garg, Legal Counsel, Muds Management Private Limited, Mobile no: +91-9599653306, Email id: [email protected]
*The content of this article is intended to provide a general guide to the subject matter. Specialist professional advice should be sought about your specific circumstances. The views expressed in this article are solely of the authors of this article.