General Circular No. 5 of 2003

 

F.No. 2/5/2001-CL.V

Government of India

Ministry of Finance and Company Affairs

Department of Company Affairs

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5^th Floor, `A’ Wing, Shastri Bhavan,

Dr. R.P. Road, New Delhi – 110 001.

Dated the 14^th of January, 2003

 

 

To

 

All Regional Directors,

All Registrar of Companies

 

 

 

          Sub:  Disqualification of Directors under Section 274(1)(g) of the

                   Companies Act, 1956 – Clarification

 

 

Sir,

 

          In continuation of this Department’s Circular No. 8/2002 dated 22^nd March, 2002, it is hereby clarified that default of privately placed bonds/ debentures/debt instruments by public financial institutions will not be considered as default to disqualify directors u/s 274(1)(g) of the Companies Act of 1956.

 

Yours faithfully,

 

 

( E. Selvaraj )

Joint Director(T)