Central Government may give Relief to Disqualified Directors

Hello Readers..!! The government may announce an amnesty or a settlement scheme to provide relief to some of the (3,00,000) three lakh company directors disqualified in a sudden decision in September. Several high-profile independent directors were among those disqualified. Many have obtained favourable high court orders staying the government decision. However, a stay order only provides temporary relief. Sections of India Inc have been pleading with the government for a settlement scheme to give companies an opportunity to update their records and pay a compounding penalty for failure to file returns, said sources in industry and corporate law. A...

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