Section Section 6
Persons not eligible for licence. (1) A person shall not be considered for issue
6. Persons not eligible for licence. (1) A person shall not be considered for issue of a licence under this Act; if he has been convicted of an offence in connection with promotion, formation or management of company (any fraud O1 misfeasance committed by him in relation to the company), including an undischarged insolvent; O convicted by competent court for an offence, the prescribed punishment for which is imprisonment of not less than two years; or keeping links with any organisation or association which is banned under any law o account of their activities which pose threat to national security O public order O there is information about such a person indulging in activities which are prejudicial to national security Or public order; Or dismissed Or removed from Government service on grounds of misconduct or moral turpitude. (2) A company, firm Or an association of persons shall not be considered for issue of a licence under this Act; if, it is not registered in India, or having proprietor or majority shareholder, partner or director; who is not a citizen of India:
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