Director
This query is : Resolved
10 March 2010
Qualification required for appointment of director or managing director
Ankur Garg
(Expert)
11 March 2010
Section 267. Certain persons not to be appointed managing directors.
No company shall, after the commencement of this Act, appoint or employ, or continue the appointment or employment of, any person as its managing or whole-time director who-
(a) is an undischarged insolvent, or has at any time been adjudged an insolvent;
(b) suspends, or has at any time suspended, payment to his creditors, or makes, or has at any time made, a composition with them; or
(c) is, or has at any time been, convicted by a Court of an offence involving moral turpitude.
Regards
No company shall, after the commencement of this Act, appoint or employ, or continue the appointment or employment of, any person as its managing or whole-time director who-
(a) is an undischarged insolvent, or has at any time been adjudged an insolvent;
(b) suspends, or has at any time suspended, payment to his creditors, or makes, or has at any time made, a composition with them; or
(c) is, or has at any time been, convicted by a Court of an offence involving moral turpitude.
Regards
Ankur Garg
(Expert)
11 March 2010
Disqualifications for being appointed as director are given in section 274. Your proposed director should be clean from section 274. Check section 274.
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