Dear Mr. Sanghavi,
The plain reading of the concerned provision, Section 164(2) of the Companies Act, 2013 is:
No person who is or has been a director of a company which—
(a) has not filed financial statements or annual returns for any continuous period of three financial years;
shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so.
Therefore, if the company has not filed the annual returns for a continuous period of 3 financial years, the directors shall become ineligible to get appointed in any other company during a period of 5 years from the date on which that company fails to comply with the statutory compliance.
So, to answer your query he shall not be eligible to become a director in another Indian private limited company for a period of 5 years from the date of violation of the above provision. The law is applicable only in the case of a Private Limited Company.
Feel free to ask for any clarifications.
Advocate, Delhi High Court