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Subrata Roy's son sacked from director's post for not disclosing results

Seemanto Roy was the director of Sahara Housingfina Corporation

Press Trust of India  |  New Delhi 

Sahara, Subrata Roy
Subrata Roy's son Seemanto Roy was found enlisted as the default director of Sahara Housingfina.

has ceased to be a director of Corporation as the company did not file the in preceding three financial years in a row, making a case for the Corporate Affairs Ministry to disqualify the director.

The company is engaged in the business of providing housing finance.

Seemanto is the son of chairman

said it was brought to its notice through a notification on Corporate Affairs Ministry website pertaining to disqualification of directors of companies who defaulted in filing and annual report in preceding three financial years continuously.

"One of our director Seemanto Roy, was found enlisted as Director in default u/s 164 (2) of the Companies Act, 2013," said in a regulatory filing.

The matter was placed in the board meeting held on November 13, 2017 as one of the agenda for discussion and necessary action as per the law of land, it added.

"The board after several deliberations on the matter decided to recast (the board) by way of cessation of from the position of Director with immediate effect ie November 13, 2017 and passed the necessary resolution for the same," the company said.

"In light of the above, this is to inform that has been de-rostered from the board of directors and necessary filling by way of submission of DIR-12 has already been done with the ROC," it added further.

As per the website of the company, Seemanto was the non- executive director of the firm. There are three more directors --one non-executive and two independent. The position of executive director showed no name.

Sahara Housingfina net profit was up 16 per cent at Rs 58.27 lakh in the second quarter ended September this fiscal, against Rs 50.27 lakh in the same period of 2016-17.

Total income of the company was Rs 344.78 lakh from Rs 334.26 lakh year ago, as per a regulatory filing.

Sahara Housingfina shares closed 5.44 per cent down at Rs 66.05 on BSE.

First Published: Wed, November 15 2017. 17:46 IST