Breaking: MCA to de-flag DINs of disqualified directors which were flagged since November 1, 2016

Breaking: MCA to de-flag DINs of disqualified directors which were flagged since November 1, 2016 Ministry of Corporate Affairs [MCA] had flagged the DINs of Directors found to be disqualified under subsection 2(a) of section 164 of the Companies Act, 2013 w.e.f. 1st November 2016 for a period of five years. This is for the information of all the concerned that DINs eligible to be de-flagged on expiry of the period of disqualification are in the process of verification. Necessary action shall be taken shortly. As per clause (a) of Section 164(2) a Director who has not filed financial statements or annual returns for any continuous period of three financial years; will be Disqualified for the period of 5 Years. DINs of such directors were flagged by MCA. Now that the period of 5 years is over, DINs of disqualified directors which were flagged since November 1, 2016, will be de-flagged.