In force · As amended up to 2026-08
4. Disqualifications for being a member of Corporation.
A person shall be disqualified for being
chosen as, and for being, a member of the Corporation--
(i) if he is, or at any time has been, adjudicated insolvent or has suspended payment of his debts
or has compounded with his creditors; or
(ii) if he is or has been convicted of any offence involving moral turpitude and sentenced in
respect thereof to imprisonment for not less than six months, unless a period of five years has elapsed
from the date of expiry of the sentence; or
(iii) [1][except in the case of managing director,] if he is a salaried official of the Corporation.
[Footnotes]
1. Ins. by Act 3 of 1974, s. 5 (w.e.f. 1-4-1974).
Source: India Code