No person shall be a director of the Board, if he--
(a) is, or becomes of unsound mind and has been so declared by a competent court; or
(b) is or has been convicted of any offence which, in the opinion of the Central Government, involves moral turpitude; or
(c) is, or at any time has been, adjudicated as insolvent or has suspended payment of his debts or has compounded with his creditors; or
(d) has, for any reason, been removed or dismissed from the service of--
(i) the Government, or
(ii) the Reserve Bank, the State Bank or any other bank, or
(iii) any public financial institution, or state financial corporation, or
(iv) any other corporation owned or controlled by the Government.
(a) is, or becomes of unsound mind and has been so declared by a competent court; or
(b) is or has been convicted of any offence which, in the opinion of the Central Government, involves moral turpitude; or
(c) is, or at any time has been, adjudicated as insolvent or has suspended payment of his debts or has compounded with his creditors; or
(d) has, for any reason, been removed or dismissed from the service of--
(i) the Government, or
(ii) the Reserve Bank, the State Bank or any other bank, or
(iii) any public financial institution, or state financial corporation, or
(iv) any other corporation owned or controlled by the Government.
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Next · Section 9Vacation and resignation of office by directors. →All sections / सभी धाराएँThe National Housing Bank Act, 1987 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Establishment and incorporation of National Housing Bank.Section 4 · Capital.Section 5 · Management.Section 6 · Board of Directors.Section 7 · Term of office of Chairman, Managing Director and other directors, service conditions, etc.Section 9 · Vacation and resignation of office by directors.India Code, Government of India. Text fetched 26 Oct 2026. Source metadata reports last modification: 2019-12-02. Check the linked official text and subsequent notifications when applying a provision.