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of <h1>Director's Office Vacant for Disqualification, Absence, or Conflict of Interest Under Section 164; Fines for Non-compliance</h1> The office of a director becomes vacant if the director incurs disqualifications under Section 164, is absent from board meetings for twelve months, acts against Section 184 by entering into or failing to disclose interests in contracts, is disqualified by a court or tribunal, is convicted of an offense with a sentence of at least six months, is removed under the Act, or ceases employment in a related company. A director knowingly continuing in office despite disqualification faces fines. If all directors vacate, the promoter or Central Government appoints interim directors. Private companies may specify additional grounds for vacating office.
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