Section 11Section 11

s. 11

11 No person shall be or shall continue to be a Director who- (a) is or has at any time been convicted of an offence which, in the opinion of the Government, is an offence involving moral turpitude; or (b) is a minor; or (c) is found to be lunatic or of unsound mind; (d) is or at any time has been adjudicated an insolvent or has suspended payment or compounded with his creditors; or (e) absents himself from three consecutive meetings of the Board without leave of absence granted by the Chairman or, in the case of the Chairman, by the Government; or (f) has any financial or other interest in any industrial concern financed by the Bank which is likely to affect prejudicially his functions as a Director; or (g) is or becomes a salaried employee of any industrial concern financed by the Bank.