MOHAN GUPTA Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioners are the Joint Managing Directors of a Company, namely, the Gupta Machine Tools Private Limited. The present writ petition has been filed against disqualification of the petitioners as Directors under Sec.164(2)(b) of the Companies Act, 2013 (hereinafter referred to as 'the Act').

(2.) The learned Senior Advocate appearing for the petitioners argues that no notice was given to the petitioners prior to such disqualification under Sec.164(2)(b) of the Act.

(3.) Secondly, it is argued that the deposits could not have been termed as 'unpaid' within the purview of Sec.74 of the Act. In this context, the learned Senior Advocate refers to Sec.74(1)(b) of the Act and submits that the deposits were renewed from time to time, which is permitted under the said provision. Thus, there does not remain any question of any dues being unpaid.