Satyam’s Directors banned from becoming directors in any other company

The government has approached the Company Law Board (CLB) with a request that all former directors of scam-hit Satyam Computers should be banned from becoming directors in other companies in India. “One of the provisions in the Companies Act under section 388B (1) (a) is that if CLB finds that directors have not discharged their responsibilities properly, they can be banned from becoming directors in any other company,” said a senior official in the ministry of corporate affairs.

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