Under Section 164 of the Companies Act 2013, a person becomes ineligible for appointment or reappointment as a director of a company if the company has failed to file financial statements or annual returns with the Registrar of Companies for a continuous period of -

Section 164(2)(a) of the Companies Act 2013 provides that a person shall not be eligible for appointment or reappointment as a director of a company if the company has failed to file financial statements or annual returns with the Registrar of Companies for a continuous period of three financial years. Section 164(2)(b) separately disqualifies a person where the company has failed to repay deposits, redeem debentures or pay interest for more than one year. The disqualification applies even if the person was not a director during the default period. A filing default of one or two years does not trigger the bar, nor does the provision operate on an aggregate of five years or a single short default. Three continuous financial years is the exact period fixed.