Question

A person is a director of a company which has failed to file its financial statements and annual returns with the Registrar of Companies for three consecutive financial years. Under s.164 of the Companies Act 2013, he is disqualified from being reappointed as a director of that company for a period of:

A Five years, running from the date on which the default in filing occurred, the disqualification attaching to reappointment in that company.
B Seven years from the date of the failure to file, covering reappointment in the same company as well as in its holding and subsidiary companies.
C Ten years from the date of the failure, the period being reckoned from the end of the third consecutive financial year of default.
D Two years from the date of the failure, being the period for which the defaulting company itself remains liable to further penalties.
E Three years from the date of the failure, corresponding to the number of consecutive financial years during which the filings were not made.
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)