Industrial Reconstruction Bank of India Act : Disqualifications of membership of the Board. Indian Bare

Industrial Reconstruction Bank of India Act,1984

Act No : 62

Section : Disqualifications of membership of the Board.

11. Disqualifications of membership of the Board.-No person shall be qualified to be a member of the Board if-- (a) he has been removed or dismissed from service of-- (i) Government, or (ii) Reserve Bank, 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 Government, on a charge of corruption or bribery; or (b) he is, or at any time has been, adjudicated an insolvent or has suspended payment of his debts or has compounded with his creditors; or (c) he is a lunatic and stands so declared by a competent court; or (d) he is or has been convicted of any offence, which, in the opinion of the Central Government, involves moral turpitude.