Ministry of Corporate Affairs (MCA) vide its General Circular No.16/2017, Condonation of Delay scheme (COD Scheme), 2018 to vouchsafe final opportunity to disqualified directors for non-compliant, defaulting companies to rectify the default, in exercise of its powers conferred under sections 403, 459 and 460 of the Companies Act, 2013.

In September 2017, MCA identified 3,09,614 directors associated with the companies that had failed to file financial statements or annual returns in the MCA21 online registry for a continuous period of three financial years 2013-14 to 2015-16 in terms of provisions of section 164(2) r /w 167(1)(a) of the Act and they were barred from accessing the online registry and a list of such directors was published on the website of MCA.