The Small Industries Development Bank of India Act, 1989

8. Disqualifications

No person shall be a Director if he-

a.      Is, or becomes, of unsound mind or is so declared by a competent court; or

b.     Is, or has been, convicted of any offence which, in the opinion of the Development Bank, involves moral turpitude; or

c.      Is, or at any, time has been, adjudicated as insolvent or has suspended payment of his debts or has compounded with his creditors.