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.
The Director has applied to be adjudicated as an insolvent and his application is pending.
The Director has been convicted by a court of any offence, whether involving moral turpitude or otherwise, and sentenced in respect thereof to imprisonment for not less than six months and a period of five years has not elapsed from the date of expiry of the sentence. Also any person who has been convicted of any offence and sentenced to imprisonment for a period of seven years or more, will not be eligible to be appointed as a director in any company.
An order disqualifying the Director for appointment as a director has been passed by a court or Tribunal and the order is in force.
The Director has not paid any calls in respect of any shares of the company held by him, whether alone or jointly with others, and six months have elapsed from the last day fixed for the payment of the call.
The Director has been convicted of the offence dealing with related party transactions under section 188 at any time during the last preceding five years.