Disqualified directors, de-registered firms not to get any relief

The Corporate Affairs Ministry has ruled out the possibility providing any relief for the 2.25 lakh de-registered companies and the 3.09 lakh disqualified directors, stating that these actions were caused by the “operation of law”.

“There is no proposal before us to provide any relief to them. The only issue before us and taking our attention is to get the pending Companies (amendment) Bill enacted by the Rajya Sabha,” PP Choudhary, Minister of State for Corporate Affairs, told.

The Ministry had de-registered 2.25 lakh companies and disqualified as many as 3.09 lakh directors for not filing financial statements for three years. Choudhary said that the remedy for these two controversies is before the National Company Law Tribunal (in case of de-registered companies) and the High Courts (for disqualification of directors).