Disqualification of Managing Director and/or Director.

A person shall be disqualified for being nominated/appointed as a Director or Managing Director of the

Corporation, if he —

1. (a) is, or at any time has been, convicted of any offence involving moral turpitude; or
2. (b) is, or at any time has been, disqualified for appointment in, or dismissed from, Government service; or
3. (c) is, or at any time has been, adjudged insolvent; or
4. (d) is of unsound mind and stands so declared by a Competent Court; or
5. (e) is not a citizen of India; or (/) is less than twenty five years of age.