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March 2012

Clarifications on filing of conflicting returns by contesting parties.

By Sejal Vasa, Company Secretary
Reading Time 1 mins
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The Ministry of Corporate Affairs has vide General Circular No. 1/2012, dated 10th February 2012 issued clarification to Circulars No. 19 and 20 issued on 2-5-2011 regarding the filing of conflicting returns pertaining to the change of directors or their appointment.

In order to avoid such eventualities wherever there is a management dispute, the company is now required to mandatorily file the attachment relating to the cause of cessation along with Form 32 with the ROC concerned irrespective of the ground of cessation viz.

(a) Retirement
(b) Disqualification
(c) Death
(d) Resignation
(e) Vacation of office u/s.283 or 313 or 260
(f) Removal u/s.284 or withdrawal of nomination by appointment authority
(g) Absence of reappointment

Aggrieved director can file complain in ‘Investor Compliant Form’ and ROC will take efforts to settle the same amicably. Till such dispute is settled, the documents filed by the company and by the contesting groups of directors will not be approved/ registered/recorded and will thus not be available in the registry for public viewing. Full Circular can be viewed on http://www.mca.gov.in/Ministry/pdf/ General_Circular_No_01_2012.pdf

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