Qualifications And Disqualifications Of Directors - Company Management & Remuneration
Qualifications
And Disqualifications Of Directors
A
director must
1. be an individual,
2. be competent to contract, and
3. hold a share qualification, if so required by the
Articles.
Disqualification Of Directors (Sec. 274)
The
following persons are disqualified for appointment as directors of company:
1. A person of unsound mind.2. An undischarged insolvent.3. A person who has applied to be adjudicated as an
insolvent and his application is pending.4. A person who has been convicted by a court of any
offence involving moral turpitude and a period of 5 years has not elapsed from
the date of expiry of the sentence.5. A person whose calls in respect of shares of the
company held for more than 6 months have been in arrear.6. A person who is disqualified for appointment as director
by an order of the court under Sec. 203.7. Such person is already a director of a public company
whichi. Has not filed the annual accounts and annual returns
for any continuous three financial years commencing on and
after the first day of April, 1999; orii. Has filed to repay its deposit or interest thereon on
due or redeem its debentures on due date or pay dividend and such failure
continues for one year or more.
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