22. Removal of directors from office
(1)
The State Government may, at any time, [under intimation to] of the Central Warehousing Corporation, remove the managing director from office after giving him a reasonable opportunity of showing cause against the proposed removal.
(2)
The board of directors may remove from office any director who—
(a)
is or has become subject to any of the disqualifications mentioned in section 21; or
(b)
is absent without leave of the board of directors for more than three consecutive meetings of the board without cause sufficient, in the opinion of the board, to exonerate his absence.
Amendment notes (1)
- Subs w.e.f. 1-11-2001 . Subs. by s. 5, ibid., for "with the previous approval of" (w.e.f. 1-11-2001).