Section 164(2) of Companies Act 2013 Upheld: Directors Accountable for Management Failures, Disqualification Consequences Reasonable.

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....Disqualification of Directors - While holding the Company responsible and to face consequences of such violation, Legislature has found it appropriate to hold the person responsible for its management i.e. Director to suffer certain consequences, which cannot be said to be unreasonable or per se arbitrary or irrational - there are no force in the submission that Section 164 (2) of Act, 2013 is ultra vires - HC....