Mr. Jigar is director of PQR Ltd., which had accepted deposits from public. Financial position of PQR Ltd. declined which resulted in failure to repay deposits. It became due for payment on 10th April, 2017 and such repayment not made till 5th May, 2018. Another company JKL Ltd. wants to appoint said Mr. Jigar as its director at its annual general meeting to be held on 6th August 2018. State correct statement as to appointment of Mr. Jigar as director of JKL Ltd.
Mr. Jigar can be appointed in JKL Ltd. as it is other than the defaulted company
Mr. Jigar cannot be appointed at all in JKL Ltd. or any other company.
Mr. Jigar will not be eligible to be appointed as a director of JKL Ltd. on the scheduled AGM but may be after expiry of five years from the date of default.
Mr. Jigar will not be appointed as a director of JKL Ltd. before 6 months from the date of default.