Legal Question in Business Law in India

Dchl company which has defaulted in redeeming the NCD which it issued in June 2011 for one year tenure due in 2012 June has not paid back to the debenture holders inspite of one year delay. Don't the Directors attract the section 274(1)(g) and be disqualified under the above mentioned section. Please answer our query.

Asked on 9/03/13, 10:57 pm

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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04.09.2013

Dear Sir / Madam,

YES. The Directors of the Company are disqualified as per the provisions of Section 274(1)(g) for the default in repayment. A complaint to the Registrar of Companies and SEBI against the Company and its Directors is warranted.

Regards,

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Answered on 9/03/13, 11:00 pm

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