Section 177: Ineligibility of bankrupt to act as director
The Companies Act, 2017 · Federal Acts · in_force
Discuss this provision with AI
177. Ineligibility of bankrupt to act as director.—If any person being an undischarged insolvent acts as chief executive or director of a company, he shall be liable to imprisonment for a term not exceeding two years or to a fine not exceeding one hundred thousand rupees, or to both.
Effective date: 2017-05-30
Related sections
Section 176: Proceedings of the boardSection 178: Records of resolutions and meetings of boardSection 175: Penalty for unqualified person acting as directorSection 179: Passing of resolution by the directors through circulationSection 174: Prohibition on assignment of office by directorsSection 180: Liabilities of directors and officers
Version 1 · Source-traceable official reference. LawHub does not modify the official record.