Dear All, As the new Companies Act, 2013 has made it mandatory to file both, annual accounts and annual return (Earlier it was "Or" meaning thereby if any of them is filed, Directors shall not be disqualified) with the Registrar of Companies, I have the following queries: 1) Shall the period of 3 consecutive years be calculated in respect of financial years commencing on or after this date i.e. 01st April, 2014 only or the directors of those companies who have not filed their financial statements or annual returns for 3 consecutive financial years prior to this date, shall also incur disqualification? 2) Shall the director of such a company which has not filed their financial statements or annual returns be disqualified to hold directorship in any other company with immediate effect? 3) Is there any moratorium period during which the default committed by the company can be made good and the director of such company is saved from the disqualification? 4) What are the implications if the office of director become vacant under section 167 of the Companies Act, 2013? Thanks Prakash
