the intention of 270 is that a knowledgeable person who doesn't have money can become director in the ltd co.co can not bound the person to take high value shares to become director.
but in sec 274(1)(e) disq.if the same person could not pay call money till 6 months after the due date he is disqualified.
i think law has a different intention in the later section.
17 April 2013
There is no problem with intention of law. Actually you have completely misunderstood the intention behind section 270.
Section 270 is all about qualification shares. The concept of qualification shares was introduced to compel new directors to take shares in the company so that their monetary interest created in the company as shareholder of the company. The reason behind creating this monetary interest was to put director under compulsion to work honestly and genuinely in favour of the company. However slowly this section lost its relevance and nowadays very less company carry this clause in their articles.
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