Question

Write Short answers for the following:
What are the qualifications of Director?

Answer 1

As regards to the qualification of directors, there is no direct provision in the Companies Act, 2013. But, according to the different provisions relating to the directors; the following qualifications may be mentioned:

1. A director must be a person of sound mind.

2. A director must hold share qualification, if the article of association provides such.(Sec 254, Companies Act, 1956)

3. A director must be an individual (Sec 253, Companies Act, 1956)

4. A director should be a solvent person.

5. A director should not be convicted by the Court for any offence, etc.