(1) 11[the State Government] may at any time, after consulting the Board, remove any director from office, if, in its opinion such a director—
(a) is or has become subject to any disqualification mentioned in section 9;
(b) is absent without leave of the Board from more than three consecutive meetings thereof without cause sufficient, in the opinion of the Board, to exonerate his absence ;
(c) has acted in contravention of the provisions of section 10; 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.