Director eligibility declaration confirms fitness for a licence under section 25, disclosing insolvency, mental status, and convictions. A promoter or director applying for a licence under section 25 must declare they are not of unsound mind (or that any prior finding is no longer in force), are not an undischarged insolvent, have not pending insolvency adjudication (or that any prior application is no longer pending), have not been convicted of any offence (or must set out particulars), and do not stand disqualified under section 203 of the Companies Act, 1956; exceptions require full particulars of proceedings.