Special director disqualification clarified: statutory Special Director appointments under SICA remain valid despite Companies Act disqualification rules. Section 16(5) of the Sick Industrial Companies (Special Provisions) Act makes appointments of Special Directors valid and effective notwithstanding any contrary provision in the Companies Act or other law, and exempts them from conditions such as share qualification, age limits, number of directorships and removal provisions; accordingly, Special Directors appointed under the Sick Industrial Companies (Special Provisions) Act are not liable to be disqualified by the Companies Act disqualification provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special director disqualification clarified: statutory Special Director appointments under SICA remain valid despite Companies Act disqualification rules.
Section 16(5) of the Sick Industrial Companies (Special Provisions) Act makes appointments of Special Directors valid and effective notwithstanding any contrary provision in the Companies Act or other law, and exempts them from conditions such as share qualification, age limits, number of directorships and removal provisions; accordingly, Special Directors appointed under the Sick Industrial Companies (Special Provisions) Act are not liable to be disqualified by the Companies Act disqualification provision.
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