: (1) No person from the following can be appointed to the position of director :- (a) In case of a public company, who has not reached the age of twenty-one years,
(b) Damaged or damaged material,
(c) In case of Damasahi, the period of five years is not completed,
(d) Convicted for corruption or other offense of moral turpitude, but in the case of a private company, three years have not passed from the date of payment of such punishment,
(e) Not having completed three years after being found guilty of any kind of theft, fraud, embezzlement or misappropriation of one's property, (f) having any personal interest in the business or any contract lease or transaction of the company concerned,
(g) A director, basic shareholder, employee, auditor or advisor of any other company with the same purpose or having any kind of private interest in such a company, but such a person of a private company may be a director in another private company with the same purpose.
(h) In the event that the amount is due to be paid to the concerned company, such shareholder,
(i) In the case of a person punished under section 160, the date of punishment does not exceed one year, or in the case of a person punished under section 161, the date of punishment does not exceed six months,
(j) In the case of a company conducting a particular business, if any qualification is prescribed by the prevailing law, such qualification is not met, or if any disqualification is prescribed, such disqualification occurs,
(k) Being the owner of a company that has not submitted the details and reports to be submitted to the office in accordance with this Act for three consecutive financial years,
(t1) pending payment of penalty amount as per sub-section (2) of section 81,
(l) Being in the position of a director receiving remuneration or any facility other than the meeting allowance and the actual expenses incurred for coming, going and staying at the meeting place from another listed company.
(2) None of the following persons can be appointed as an independent director:-
(a) A person as mentioned in sub-section (1),
(b) RelationshipA shareholder of this company,
(c) At least a bachelor's degree in a subject related to the business of the concerned company and at least ten years of experience in a related field or in company management work or at least a bachelor's degree in finance, finance, management, accounting, statistics, commerce, business administration or law in a related field Not having gained ten years of experience,
(d) Not having completed three years of retirement from the officer, auditor, employee or any such position of the concerned company,
(e) A close relative of the officer of the concerned company,
(f) Auditor of the concerned company or his partner.
(3) No person shall hold the office of director in the following cases:-
(a) In case of not being able to be appointed as a director as written in sub-section (1) or (2),
(b) If the general meeting passes the resolution to remove the director from the position,
(c) If the director's resignation from his position is approved by the board of directors,
(d) If it is determined by the court that the company has acted dishonestly or defamedly,
(e) If it is determined by the court that the director has performed any act prescribed as not to be done or has not performed the prescribed act as required to be done,
(f) In case the period of blacklisting is maintained by the authorized body for non-payment of the loan of the bank or financial institution according to the prevailing law.
(4) Before disqualifying a person from being appointed or remaining in the position of a director, the company shall inform him of the matter and give him a reasonable opportunity to submit an explanation.