[Disqualification of Directors] 2014 and 2018 amendments to Companies Act are prospective: Calcutta High Court

"Such an amendment (if retrospective) would, without fail, be anomalous and absurd, outlying the “reasonableness” envisaged in Article 19(6) of the Constitution", the Court said.
Calcutta High Court
Calcutta High Court

The Calcutta High Court recently ruled that the 2014 amendment to Section 164(2) and the 2018 amendment to proviso to Section 167(1)(a) of the Companies Act, 2013 are prospective in nature opining that their retrospective application would be anomalous, absurd, unreasonable and could potentially ruin the economy (Naresh Kumar Poddar v. Union of India, through Secretary, Ministry of Corporate Affairs and another).

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