Director disqualification hits 500 listed companies Exchanges send notices asking firms why their directors were disqualified by MCA Stock exchanges have sent notices to listed companies that share directors who have been disqualified for associating with other firms which haven’t filed their financial statements or annual returns for three years.The notices ask such firms to explain why their directors have been disqualified and when the companies plan to replace them, said two people with direct knowledge of the matter. At least 500 publicly traded firms shared directors with suspected shell companies. “The National Stock Exchange of India or NSE has so far sent out 307 notices to listed companies in two tranches seeking explanations on their disqualified directors. The first set of 210 notices were sent in last week of September and 97 notices were sent on Friday,” one of the two people cited above said on condition of anonymity.BSE Ltd has also identified 500 companies so f