Disqualifications for appointment of director

Posted on 09-04-2016        By ADMIN

Disqualifications for appointment of director -Section 164 (1) A person shall not be eligible for appointment as a director of a company, if — (a) he is of unsound mind and stands so declared by a competent court; (b) he is an undischarged insolvent; (c) he has applied to be adjudicated as an insolvent and his app lication is pending; (d) he has been convicted by a court of any off ence, wh ether involving moral turpitude or otherwise, and sentenced in respect thereof to impriso nment for not less than six months and a period of five years has not elapsed from the date of expiry of the sentence. If a perso n has bee n convicted of any off ence and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be appointed as a director in any company; (e) an order disqualifying him for app ointment as a director has bee n passed by a court or Tribunal and the order is in force; (f) he has not paid any calls in respect of any shares of the company held by him, wh ether alone or jointly with others, and six months have elapsed from the last day fixed for the payment of the call ; (g) he has been convicted of the off ence dealing with related party transactions under ......................

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