Companies Act, 2013

Section 73

Disqualification for appointment of director

⚡ Quick Answer Reference: Section 73 Companies Act

Provision: Section 73 of Companies Act
Act: Companies Act, 2013
Classification: corporate
Jurisdiction: India

Statutory Content

What does Section 73 of Companies Act say?

A person shall not be eligible for appointment as a director of a company if he has been convicted by a court of any offence punishable with imprisonment for a term of two years or more and a period of five years has not elapsed since his release. A person shall not be eligible for appointment as a director of a company if he has at any time been adjudged insolvent. A person shall not be eligible for appointment as a director of a company if he has been found to be of unsound mind by a competent court and has not been restored to sanity. A person shall not be eligible for appointment as a director of a company if he has been convicted of any offence concerning a company or any other body corporate and a period of five years has not elapsed since his release. A person shall not be eligible for appointment as a director of a company if he has not paid any debt in relation to which he has been adjudged an insolvent.

Indian StandardSection 73, Companies Act, 2013

Bluebook (21st ed.)Companies Act, 2013, § 73 (India)

Court Pleading StandardSection 73 of the Companies Act, 2013

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Common Questions about Section 73 Companies Act

What is Section 73 of Companies Act?

Section 73 of the Companies Act, 2013 (Companies Act) defines and regulates "Disqualification for appointment of director". The section states: A person shall not be eligible for appointment as a director of a company if he has been convicted by a court of any offence punishable with imprisonment for a term of two years or...

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