Companies Act, 2017 — section 171

171. Vacation of office by the directors..—(1) A director shall ipso facto cease to hold office if

(a)he becomes ineligible to be appointed as a director on any one or more of the grounds enumerated in section 153;

(b)he absents himself from three consecutive meetings of the board without seeking leave of absence;

(c)he or any firm of which he is a partner or any private company of which he is a director

(i)without the sanction of the company in general meeting accepts or holds any office of profit under the company other than that of chief executive or a legal or technical adviser; or

(ii)accepts a loan or guarantee from the company in contravention of section 182.

(2)Nothing contained in sub-section (l) shall be deemed to preclude a company from providing by its articles that the office of director shall be vacated on any grounds additional to those specified in that sub-section. DISQUALIFICATION OF DIRECTORS BY THE COMMISSION