Companies Act, 1956
Section - 202 - Undischarged insolvent not to manage companies
Prevention of management by undesirable personsUndischarged insolvent not to manage companies.202. (1) If any person, being an undischarged insolvent,— (a) discharges any of the functions of a director, or acts as or discharges any of the functions of the [***] manager, of any company; or (b) directly or indirectly takes part or is concerned in the promotion, formation or management of any company;he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to [fifty] thousand rupees, or with both.(2) In this section, "company" includes— (a) an unregistered company; andGoogle Play store
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