Lawgist8Disqualifications
No person shall be a director of the Board, if he--
(a) is, or becomes of unsound mind and has been so declared by a competent court; or
(b) is or has been convicted of any offence which, in the opinion of the Central Government, involves moral turpitude; or
(c) is, or at any time has been, adjudicated as insolvent or has suspended payment of his debts or has compounded with his creditors; or
(d) has, for any reason, been removed or dismissed from the service of--
(i) the Government, or
(ii) the Reserve Bank, the State Bank or any other bank, or
(iii) any public financial institution, or state financial corporation, or
(iv) any other corporation owned or controlled by the Government.
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- 5 Management
- 6 Board of Directors
- 7 Term of office of Chairman, Managing Director and other directors, service conditions, etc
- 8 Disqualifications
- 9 Vacation and resignation of office by directors
- 10 Casual vacancy in the office of Chairman or Managing Director
- 11 Meetings of Board
- 12 Executive Committee and other committees
- 13 Director of Board or member of committee thereof not to participate in meetings in certain cases
