TaxTMI 
TaxTMI 
2019 (6) TMI 421
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....f companies) under Section 164(2)(a) of the Companies Act 2013. 2. This is an extract circulated by the 2nd Respondent on 7th September 2017. 3. The Petitioner was a director in a company known as T.P. Ship Recycling Private Limited. The Petitioner says that she was a Director with effect from 28th March 2011 in the company and the status of this company is "struck of". 4. The Petitioner claims that on 25th February 2013 the Petitioner informed the Board of Directors of this company that she wished to tender her resignation with immediate effect. 5. Mr. Kamdar, learned senior counsel appearing for the Petitioner, relies upon an endorsement below this resignation letter which denotes that the said resignation was accepted on that ....
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....ll and that company has regularly been filing its financial statements and annual returns. The Petitioner also relies upon Exhibit "E" which is a list of companies in which she is a director. 10. The Petitioner relies upon an Additional Affidavit filed in this Petition on 23rd May 2019 which contains a statement to the efect that the present proceedings and particularly the act of Respondent No. 2 in this Petition will vitally afect the Petitioner in the sense that one M/s. Diamond Forever International ("DFI") is the highest bidder and a resolution Applicant in the corporate insolvency process initiated against a corporate debtor named Provogue India Limited for debt of Rs. 260 crores. 11. The Petitioner was one of the partners of M/s. D....
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....Act 2013. It is also considering the legal arguments and particularly whether sub-section (1) and sub-section (2) of this provision would have to be construed and interpreted so as to take care of distinct and separate contingencies. Prima facie sub-section (1) applies to the issue of eligibility for appointment as a director whereas sub-section (2) concerns the case of a person who is or has been a director of a company and in the event that company defaults he will not be eligible for reappointment as a director of that company or appointment in other companies for a period of five years from the date on which the said company defaults. 16. Therefore, the issue whether this provision can be invoked and applied despite the amendment to th....