Disqualification of a Special Director appointed under SICA, 1985 in view of new Section 274 (1)(g) of the Companies Act, 1956

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..... 001 Dated : 25th May, 2001 To 1. All Regional Directors 2. All Registrar of Companies 3. All Official Liquidators Subject:- Disqualification of a Special Director appointed under SICA, 1985 in view of new Section 274 (1)(g) of the Companies Act, 1956 Sir, The matter whether Directors appointed under Section 16(4) of the Sick Industrial Companies (Special Provisions) Act, .....

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..... oresaid, shall not apply to any director appointed by the Board. In view of over-ridding effect of provisions of Section 16(5) of SICA over Companies Act, 1956 it is hereby clarified that Special Directors appointed under Section 16(4) of SICA shall not be liable to be disqualified for appointment as directors by virtue of Section 274(1)(g) of the Companies Act, 1956. Yours faithfully, .....

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