No Disqualification on Directors for non-Filing of Balance Sheets before FY 2014-15, Supreme Court observes Prima Facie [Read Judgement]

Supreme Court prima=facies leaned towards Allahabad High Court's Interpretation of Section 164(2) of Companies Act.
By Manu Sharma - On July 25, 2024 3:19 pm - 2 mins read
Supreme Court - Non Filing of Balance Sheets - No Disqualification on Directors - Balance Sheets - taxscan

The Supreme Court has shown a preliminary agreement, prima facie with the Allahabad High Court’s ruling that Section 164(2) of the Companies Act 2013, which mandates the disqualification of directors for five years due to the non-filing of balance sheets and annual returns for three consecutive financial years, does not apply retrospectively to periods before…

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