(1) If at any time it appears to the Government that the Chairman has shown himself to be unsuitable for his office, or has been guilty of any misconduct or neglect which renders his removal expedient, it shall by notification remove him from office after giving him a reasonable opportunity of showing cause.
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(2) The Government may, by notification, remove any non-official director from office after giving him a reasonable opportunity of showing cause,-
(a) if he has, without the permission of the Board, been absent from the meetings of the Board for a period of three consecutive months reckoned from the date of the commencement of his term of office, or of the last meeting which he attended, as the case may be, or within the said period, less than three meetings have been held, been absent from three consecutive meetings held after the said date ;
(b) if he, being a legal practitioner, acts or appears on behalf of any person other than the Board in any civil, criminal or other legal proceedings in which the Board is interested, either as a party or otherwise; or
(c) if he, in the opinion of the Government, is unsuitable or has become incapable of acting as a director or has so abused his position as a director as to render his continuance as such director detrimental to public interest.
(3) A non-official director removed under any of the provisions of clauses (a) and (b) of sub-section (2) shall unless otherwise directed by the Government be disqualified for appointment as a director for a period of three years from the date of his removal.
(4) A non-official director removed under clause (c) of sub-section (2) shall not be eligible for reappointment until he is declared by an order of the Government to be no longer ineligible.
CHAPTER III OFFICERS AND MEMBERS OF THE STAFF OF THE BOARD