TMI Blog2018 (5) TMI 2032X X X X Extracts X X X X X X X X Extracts X X X X ..... nd not for any period prior thereto and as such, the direction to disqualify the petitioners with effect from the financial years 2013-14 is not sustainable - HELD THAT:- Prima facie, an arguable case has been made out by the petitioners and it appears that the disqualification under Section 164(2) of the said Act of 2013 would not prevent the petitioners to continue to act as directors of other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shna Bagchi, Mr. Kousik Chatterjee, Ms. Labanyasree Sinha For The Petitioners. Mr. S.C Prasad For The Respondent. JUDGMENT Affidavit-of-service filed by the petitioners be kept on record. The subject matter of challenge in the present writ petition is a list published by the Registrar of the companies naming the directors of the companies who have attracted disqualification under Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 013 came into operation with effect from 1st April, 2014 and hence the same can be made applicable only from the financial year 2013-14 and not for any period prior thereto and as such, the direction to disqualify the petitioners with effect from the financial years 2013-14 is not sustainable. In support of his arguments, Mr. Talukdar has placed reliance upon a judgment delivered in the case of Ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gly, there shall be an interim order staying the operation of the impugned list of disqualified directors published by the respondent no.1 so far as it pertains to the petitioners herein. There shall be a further interim order allowing the petitioners to continue as directors in all the companies in which the petitioners have been serving as directors and to comply with the formalities as provi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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