Removal Of Director Disqualification
REMOVAL OF DIRECTOR DISQUALIFICATION-
- The Director is failed to file financial statements or annual returns for consecutively for 3 financial years; or
- The Director is not repaid the deposits taken or paid interest or redeemed any debentures, such failure to pay or redeem has taken place for one year or more, He/she shall also not be eligible to be re-appointed as a director of that company or any other company for a period of 5 years from the date.
- The Director is of unsound mind and stands so declared by a competent court.
- The Director is an undischarged insolvent.