Company Law Trap: Section 153(7A) - Directors' Disqualification

So, you think you know Company Law, right? Aap Company ka Section mein akele theek ho? But wait, this one's a tricky one. Here's the scenario: Company X is in trouble, owes a lot of money to banks and creditors. Directors of Company X are facing disqualification under Section 153(7A) of the Companies Act, 2013. The disqualification is not just about the individual directors, but also about the companies they are directors of in the last 5 years. But here's the twist, Section 153(7A) explicitly excludes disqualification of directors of private companies with paid-up share capital of less than ₹1 crore. Simple, right? Wrong.