Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified by the virtue of those events, government has launched a scheme in the favor of such directors.
The Government has provided a 3 month window to them to file their returns and normalize operations by launching Condonation of Delay Scheme, 2018.
A draft of the scheme finalized by the Ministry of Corporate Affairs (MCA) has been placed before the Delhi High Court in response to various writ petition by directors against their disqualification.
The scheme states that if the struck off companies are revived by order of National Company Law Tribunal, their directors can avail of condonation of delay scheme, which is applicable from January 1 to March 31, 2018. MCA, under Section 460 of Companies Act, has decided to introduce the scheme.