A Practicing Company Secretary wants to establish his practice in the field of Mediation and Conciliation. He wants to know whether he would not be eligible to be appointed as a Mediator or Conciliator as per Rule 5 of C

As per Rule 4 of Companies (Mediation and Conciliation) Rules, 2016, a Company Secretary with at least fifteen years of continuous practice is qualified for being empanelled as mediator or conciliator. However, as per Rule 5 of Companies (Mediation and Conciliation) Rules, 2016, a person shall be disqualified for being empanelled as mediator or conciliator, if he- is an undischarged insolvent or has applied to be adjudicated as an insolvent and his application is pending; has been convicted for an offence which, in the opinion of the Central Government, involves moral turpitude; has been removed or dismissed from the service of the Government or the Corporation owned or controlled by the Government; has been punished in any disciplinary proceeding, by the appropriate disciplinary authority; or has, in the opinion of the Central Government, have such financial or other interest in the subject matter of dispute or is related to any of the parties, as it is likely to affect the discharge of his professional obligations as a mediator or conciliator.