- The applicant shall not be qualified for grant of licence if:(a)he or any of his partners, or promoters, or Directors or Associates is declared insolvent and has not been discharged; or(b)he or any of his partners, or promoters, or Directors or Associates is involved in any legal proceedings, and in the opinion of the Commission grant of licence in the circumstances, may adversely affect the interest of the electricity sector of the consumers; or(c)he or any of his partners, or promoters, or Directors or Associates has at any time in the past been convicted of an offence involving moral turpitude or any economic offence; or(d)an order cancelling the licence of the applicant, or any of his partners, or promoters, or Directors or Associates, has been passed by any Commission on the ground of his indulging in fraudulent and unfair trade practices or market manipulation or activities involving moral turpitude; or(e)he has in the past been:(i)refused a licence on the grounds which continue to remain valid; or(ii)subjected to any proceedings for contravention of any of the provisions of the Act or the rules or the regulations made thereunder; or(f)he is not considered a fit and proper person for the grant of licence for any other reason to be recorded in writing;Explanation. - For the purpose of determining as to whether the applicant is a "fit" and proper person", the Commission may take account of any consideration, as it deems fit, including but not limited to the following, namely:-(i)financial integrity of the applicant(ii)his competence(iii)his reputation and character; and(iv)his efficiency and honesty.]
