Amendment status not verified — confirm the current text below against the official source.
No person shall be a director who- (a) is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded, with his creditors; or (b) is of unsound mind and stands so declared by a competent court; or (c) is or has been convicted of any offence which, in the opinion of the State Government, involves moral turpitude.