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2020 (8) TMI 500 - HC - Companies LawDisqualification of Directors - non-submission of annual returns and balance-sheet for previous financial years starting from 2011 to 2012 to 2013 to 2014 - Section 164(2) (a) of the Companies Act, 2013 - HELD THAT:- On the question whether proviso to Section 167(1) is retrospective or prospective, detailed hearing should be made on exchange of affidavits. Therefore, the respondents are at liberty to file affidavit-inopposition within four weeks from date and serve a copy of the same to the learned advocate for the petitioner. In present set of writ petitions the petitioners have been able to make out an arguable case and balance of convenience and inconvenience is in favour of the petitioners - the petitioners are at liberty to file affidavit-in-reply within two weeks from the date of receipt of affidavit-in-opposition.
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