Disqualifications of directors.
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.... the finding is in force; (b) he is an undischarged insolvent; (c) he has applied to be adjudicated as an insolvent and his application is pending; (d) he has been convicted by a Court [1][* * *] of any offence involving moral turpitude and sentenced in respect thereof to imprisonment for not less than six months, and a ....
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....nancial years commencing on and after the first day of April, 1999; or (B) has failed to repay its deposit or interest thereon on due date or redeem its debentures on due date or pay dividend and such failure continues for one year or more: Provided that such person shall not be eligible to be appointed as a director of any other public comp....
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....icles, provide that a person shall be disqualified for appointment as a director on any grounds in addition to those specified in sub-section (1). ------------------------------ Notes:- [1] The words "in India" omitted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 93. [2] Inserted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.[See Companies (Disqua....
TaxTMI
TaxTMI