Companies Act, 2017 — section 115

115. Disqualification for appointment as receiver or manager..—The following shall not be appointed as a receiver or manager of the company’s property, namely

(a)a minor;

(b)a person who is of unsound mind and stands so declared by a competent court;

(c)a body corporate;

(d)a director of the company;

(e)an un-discharged insolvent unless he is granted leave by the court by which he has been adjudged an insolvent; or

(f)a person disqualified by a Court from being concerned with or taking part in the management of the company in any other way, unless he is granted leave by the Court.