Amendment status not verified — confirm the current text below against the official source.
(1) The Board may, at any time in #consultation with the Central Warehousing Corporation and with the previous approval of the Central Government, remove the managing director from office after giving him a reasonable opportunity of showing cause against the proposed removal. (2) The Board of directors may remove from office, any director who-- (a) is or has become subject to any of the disqualifications mentioned in Section 22; or (b) is absent without leave of the board of directors for more than three consecutive meetings of the board without excuse, sufficient in the opinion of the board, to exonerate his absence.