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It is time to get back your position

Under the Condonation of Delay Scheme, if a director is disqualified for some reason or the other, then he is given a chance to regain his position through removing the blot of disqualification. Marginwala is here to assist you with this procedure.

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    Removal of Director Disqualification Fees

    Removal of Director Disqualification
    INR 49,999 /-

    Director Disqualification and Condonation

    After MCA disqualifies 3.09 lakhs directors and blocked their director Identification Number. It was then that the aggrieved directors came forward to seek the solution for this issue. As a result of this plea, the Condonation of delay scheme was born. This scheme allowed the directors to temporary avail their position in order to file a plea to the court to regain their position on a permanent basis. IF the director fails through the Condonation of delay scheme, he is going to be barred from being the director for the next 5 years.

    There are two conditions in which the director can be disqualified:

    1. If the director has failed to file the annual returns and the financial statements for 3 years in a row
    2. If the director has not repaid the deposits that they have taken or has not paid any interest or has not paid any debentures. When this happens for 1 whole year, then also the director is closed.

    When a director is disqualified, it does not affect the company due to the company’s perpetual nature. In this case, a temporary new director is hired for the time being. The other personnel of the company take this course of action after filing all of the overdue returns. Once they have fulfilled their returns up to the recent date, only then can they hire a new director.

    However, what you need here is reinstatement as a director. This is a long and arduous process that you would need assistant to go through. Therefore, Marginwala, through its experience and experts is here to assist you so that you can regain your position as the director of the company.