Union Ministry of Corporate affairs in an attempt to curb black money, disclosed the names of directors who were disqualified last week for associating with shell companies or the companies that have not filed their annual financial statements for three consecutive fiscal years.
Around 1.06lakh directors across India and NRIs have been listed for disqualification under the provisions of the Companies Act, 2013. Hyderabad stands third with 41156 disqualified directors.
Dr Reddy Research foundation directors – Late Anjireddy Kallam, Gunupati Prasad and Satish Reddy were disqualified under section 164(2)(a)
Three directors of TDP MP Sujana Chowdary’s Sujana Power India Ltd – Shankar kundula, Hanumantha Rao Sandepudi, Srinivasa Gottumukkala have been disqualigied
Directors of Deccan Chronicle Private Limited Tikkavarapu Manjula Reddy and Venkata Tikkavarapu have been listed along with directors Karthik Iyer Parasuraman, Tikkavarapu Reddy, Enkateswarlu Malapaka, Suresh Srinivasan of Deccan Chronicle Holdings Limited.
AgriGold Seeds Private Limited directors Avva Vara Prasad And Venkataseshu Avva also found themselves in the list.
Six directors of Narne Homes Private Limited including Narne Rao, Narne Malleswari, Srivenkata Gadde , Srinivas Rao Narne , Gadde Vijaya Sree, Subba Yamma Narne have been listed.
Surprisingly five Directors Andhra Pradesh State Minorities Finance Corporation Ltd have been disqualified.
These directors are now barred from being appointed as a director for a period of five years from the date of non-compliance in the same company or any other company.
