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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..... 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, 1985 by the Board for Industrial and Financial .....

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..... e 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, (Thakur Sharan ) Under Secretary to the Government of India (T .....

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