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of <h1>Individuals Barred from Director Roles: Insolvent, Payment Defaulters, or Those Convicted of Moral Turpitude Offenses</h1> No company, following the commencement of the Companies Act, 1956, shall appoint or continue the appointment of any individual as a managing or whole-time director if the individual is an undischarged insolvent or has been adjudged insolvent, has suspended payment to creditors or made a composition with them, or has been convicted of an offense involving moral turpitude. The restriction applies irrespective of where the conviction occurred, as the geographical limitation was removed by an amendment in 1960.
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