Companies Act, 2013

Section - 378Q - Vacation of office by directors

Vacation of office by directors.

378Q. (1) The office of the director of a Producer Company shall become vacant if,-

(a)	-	he is convicted by a court of any offence involving moral turpitude and sentenced in respect thereof to imprisonment for not less than six months;
(b)	-	the Producer Company, in which he is a director, has made a default in repayment of any advances or loans taken from any company or institution or any other person and such default continues for ninety days;
(c)	-	he has made a default in repayment of any advances or loans taken from the Producer Company in which he is a director;
(d)	-	the Producer Company, in which he is a director-