Disqualification of Directors

(1) A person shall be disqualified for being nominated or continued as a Director— (a) if he is, or at any time has been adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors; (b) if he is of unsound mind and stands so declared by a competent court; (c) if he is, or has been convicted of any offence under the Prevention of Cruelty to Animals Act, 1960 (No. 59 of 1960), the Central Provinces and Berar Animal Diseases Act, 1944 (No. 26 of 1944) or the Madhya Pradesh Agricultural Cattle Preservation Act, 1959 (No. 18 of 1959), or any law relating to animal welfare enacted by the Central Government or the State Government; (d) if he is removed or dismissed from the service of the Government or a Corporation owned or controlled by the Central Government or the State Government; (e) if he acts in any manner prejudicial to the interest of the Nigam or has any interest in any body, institution or organisation whose activities are prejudicial to the interest of the Nigam. (2) If a Director of the Nigam becomes subject to any of the disqualifications mentioned in sub-section (1), he shall cease to be a Director of the Nigam from the date of such disqualification.