It is time to get back your position
Under the Condonation of Delay Scheme, if a director is disqualified for some reason or the other, then he is given a chance to regain his position through removing the blot of disqualification. Registrationwala is here to assist you with this procedure.
Director Disqualification and Condonation
After MCA disqualifies 3.09 lakhs directors and blocked their director Identification Number. It was then that the aggrieved directors came forward to seek the solution for this issue. As a result of this plea, the Condonation of delay scheme was born. This scheme allowed the directors to temporary avail their position in order to file a plea to the court to regain their position on a permanent basis. IF the director fails through the Condonation of delay scheme, he is going to be barred from being the director for the next 5 years.
There are two conditions in which the director can be disqualified:
When a director is disqualified, it does not affect the company due to the company’s perpetual nature. In this case, a temporary new director is hired for the time being. The other personnel of the company take this course of action after filing all of the overdue returns. Once they have fulfilled their returns up to the recent date, only then can they hire a new director.
However, what you need here is reinstatement as a director. This is a long and arduous process that you would need assistant to go through. Therefore, Registrationwala, through its experience and experts is here to assist you so that you can regain your position as the director of the company.
Procedure Removal of Director Disqualification
Documents Required for Removal of Director Disqualification
The documents are different based on the state of the company:
FAQs Removal of Director Disqualification
When all the directors are disqualified under the CODS, then the promoter or the MCA shall step in to hire a new team of directors. The number of these directors would be the same as the ones who are disqualified and they would remain at the position until original directors regain the position.
After the 5 years of disqualification have passed, the directors have to file an application to the ROC in the form DIR 10 as per rule 14 (5) of the companies Act in order to get their names back on the list.
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