Amendment status not verified — confirm the current text below against the official source.
(1) 1[The State Government] may, at any time, remove any director from office, if, in its opinion, such a director- (a) is, or has become, subject to any disqualification mentioned in section 8; (b) is absent without leave of the Corporation from more than three consecutive meetings thereof without cause sufficient, in the opinion of the Corporation, to exonerate his absence; (c) has acted in contravention of the provisions of section 9; or (d) has been guilty of misconduct in the discharge of his duties: Provided that no order of removal shall be passed without giving the director a reasonable opportunity of showing cause against the proposed order. (2) A director may resign his office by giving notice thereof in writing to the State Government and on such resignation being accepted he shall be deemed to have vacated his office. Managing Director.