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of <h1>Key Disqualifications for Directors Under Section 164 of Companies Act 2013: Insolvency, Convictions, Financial Misconduct, and More.</h1> Under Section 164 of the Companies Act, 2013, a person is disqualified from being appointed as a director if they are of unsound mind, an undischarged insolvent, have pending insolvency applications, or have been convicted of an offense with a sentence of at least six months within the last five years. Disqualification also applies if a court or tribunal order is in force, if share payment defaults have occurred, or if convicted of related party transaction offenses. Directors of companies failing to file financial statements or repay deposits for three years are also disqualified for five years. Private companies may impose additional disqualifications.
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