Court Rules Against Deactivation of Directors' IDs; Allows Penalties for Delay Under Companies Law, Section 164.

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....Disqualification of directors - Deactivation of DINs - This Court having considered the said submissions is of the considered view that the new amending law also contemplates levying of ₹ 100/- per each day of default and which permits the regularizing the delay of the petitioners. Therefore, this Court is not inclined to accept the said contention of the learned Assistant Solicitor General for the respondents - the deactivation of the DINs of the petitioners for alleged violations under Section 164 of the Act, cannot be sustained. - HC....