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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification: Section 274(1)(g) of Companies Act excludes private bond defaults from director disqualification. Consistent application ensured.</h1> The circular issued by the Department of Company Affairs clarifies that under Section 274(1)(g) of the Companies Act, 1956, the default on privately placed bonds, debentures, or debt instruments by public financial institutions does not constitute a default that would lead to the disqualification of directors. This clarification follows a previous circular dated March 22, 2002, and is directed to all Regional Directors and Registrars of Companies to ensure consistent application of the disqualification criteria for directors.
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