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2019 (6) TMI 421 - HC - Companies LawDirection to the 2nd Respondent Registrar of Companies, Mumbai not to act upon the extract, a copy of which is Exhibit “A” to the Petition - scope of Section 164 (2)(a) of the Companies Act 2013 - HELD THAT:- he issue whether this provision can be invoked and applied despite the amendment to the Companies Act 2013 been brought into efect from 1st April 2014, can it afect the position of a director who was appointed prior to this provision being brought into efect, is very vital. Secondly, we will have to consider the impact of this provision on a person who is or has been a director of a company which has defaulted in complying with the requirements of the Companies Act 2013. Whether every director of a company in this position should be proceeded against and declared to be ineligible for reappointment or appointment in other companies is the main question. Once it is argued that the disqualification is not automatic and would not result in vacating of the office, then, all the more it is necessary to be clarified until we hear the parties at some length that the documents such as Exhibit “A” uploaded on the portal of the Registrar of Companies as also any other document which in the nature of the page 23 of the paper-book by itself and without anything more will not prevent or preclude the participation of such directors in the proceedings contemplated in Section 29-A of IBC. The position of the Petitioner in terms of Section 29-A under a distinct statute namely the Insolvency and Bankruptcy Code 2016 shall not be afected by the impugned acts of Respondent No. 2. With this clarification having been issued we do not think that a specific ad-interim or interim order is required in this Petition. This Petition is also to be placed on 13th June 2019.
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