Certain persons not to be appointed managing directors :
Section – 267. No company shall, after the commencement of this Act, appoint or employ, or continue the appointment or employment of, any person as its managing or whole-time director who—
牋牋牋牋牋牋(a) 牋is an undischarged insolvent, or has at any time been adjudged an insolvent;
牋牋牋牋牋牋(b) 牋suspends, or has at any time suspended, payment to his creditors, or makes, or has at any time made, a composition with them; or
牋牋牋牋牋牋(c) 牋is, or has at any time been, convicted by a Court [***] of an offence involving moral turpitude.