Chapter: Chapter - XI
Section: Section 164(2)
Rule: Rule 14(1) of Companies (Appointment and Qualification of Directors) Rules, 2014
Approximate Time Saving: 30 minutes
This document consist of word format of DIR-8 mandatory required to be given by every director at the time of his / her appointment.
This document have drafted keeping in mind all the relevant provisions of Companies Act, 2013 read with rules made thereunder.
This will help you to save your precious time and effort.
Section 164(2)
No person who is or has been a director of a company which—
(a) has not filed financial statement or annual returns for any continuous period of three financial years; or
(b) has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one year or more,
shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so.
Rule 14(1)
Every director shall inform to the company concerned about his disqualification under sub-section (2) of section 164, if any, in Form DIR-8 before he is appointed or re-appointed.
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