2018 (8) TMI 2002 - HC - Companies Law

Disqualification of Directors - validity of list published by the Registrar of the Companies naming the directors of the companies who have attracted disqualification under Section 164(2)(a) of the Companies Act, 2013 - HELD THAT - The matter needs to be decided upon exchange of affidavits. Accordingly, the respondents are directed to file their affidavit-in- opposition within four weeks from date. Reply thereto, if any, be filed within two weeks thereafter.

Summary

Issues: Challenge to disqualification of directors under Section 164(2)(a) of the Companies Act, 2013.

In this judgment by the High Court of Calcutta, the petitioner challenged a list published by the Registrar of Companies naming directors disqualified under Section 164(2)(a) of the Companies Act, 2013. The petitioner argued that since Section 164(2) came into effect from April 1, 2014, it cannot be applied retroactively to disqualify directors for periods before that date. The respondent's advocate referred to a similar case in the Bombay High Court where the Supreme Court had stayed the operation of the order. The court decided that the matter required further examination through the exchange of affidavits. The respondents were directed to file their affidavit-in-opposition within four weeks, with a two-week period for the petitioner to reply. The court granted the parties the liberty to mention the matter for final hearing after the specified period for exchanging affidavits.