5. Disqualification for Director: Any of the following persons shall not be eligible to be a Director of a Corporation:
(a) A person who has not attained the age of twenty one years, (b) A person who is insane;
(c) A person who is convicted by a court of an offense of any kind of theft or cheating or corruption or unauthorized
embezzlement or misuse of assets in his or her custody and sentenced for the same,
(d) A person who has become insolvent or got declared insolvent; or
(e) A person who has personal interest of any kind in any contract or transaction of the Corporation.