Disqualification of a director of the financial creditor to sign the Section 7 application was...

Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial creditor company, was rejected. The appellant contended that the Infracon company, where Sachdeva was also a director, had been struck off due to non-filing of financial statements for three years, attracting director disqualification u/s 164. The Tribunal held that Section 164(2) requires non-filing of financial statements or annual returns for any continuous period of three financial years, which was not applicable in this case. The company was incorporated in 2014, and the last balance sheet filing date was 31.03.2015. The proviso to Section 167(1), inserted in 2018, was..... .....

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