Disqualification and removal of directors from office
Commencement. 19th April, 2021- Sections 2, sub-sections (1), (2) and (4) of section 3, 4 to 14, sub-section (3) of section 15, 16 to 23 and 25 to 48 vide notification No. S.O. 1657(E), dated 16th April, 2021, see Gazette of India, Extraordinary, Part II, sec. 3 (ii).
Section 10 of the National Bank for Financing Infrastructure and Development Act, 2021 deals with disqualification and removal of directors from office. The Central Government may remove from office any director who--- (a) is, or at any time has been, adjudged as insolvent; The Act was enacted on 28 Mar 2021.
(1) The Central Government may remove from office any director who---
(a) is, or at any time has been, adjudged as insolvent; or
(b) has become physically or mentally incapable of acting as a director; or
(c) has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude; or
(d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a director; or
(e) has, in the opinion of the Central Government, so abused his position as to render his continuance in office detrimental to the public interest; or
(f) has, for any reason, been removed or dismissed from the service of---
(i) the Government; or
(ii) any bank including the Reserve Bank or the State Bank of India; or
(iii) any public financial institution or State financial corporation; or
(iv) any other corporation owned or controlled by the Government.
(2) No such director shall be removed under clause (d) or clause (e) of sub-section (1) unless he has been given a reasonable opportunity of being heard in the matter.
(3) Any director who is elected or nominated as a Member of Parliament or of any State legislature, shall cease to be a director from the date of such election or nomination, as the case may be.
(4) The disqualifications or removal under this section shall not take effect---
(a) for thirty days from the date of the adjudication, sentence or order; or
(b) where any appeal or petition is preferred within thirty days against the adjudication, sentence or conviction resulting in the sentence or order, until the expiry of seven days from the date on which such appeal or petition is disposed of.
Section 10, The National Bank for Financing Infrastructure and Development Act, 2021 (Act 17 of 2021).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Made under this section, and citing it
1 instrument states that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Another 1 instrument names this provision in its title or its text without being made under it.
Questions about Section 10
What does Section 10 of the National Bank for Financing Infrastructure and Development Act deal with?
Section 10 of the National Bank for Financing Infrastructure and Development Act is headed "Disqualification and removal of directors from office". The Central Government may remove from office any director who--- (a) is, or at any time has been, adjudged as insolvent;
How do I find court cases under Section 10 of the National Bank for Financing Infrastructure and Development Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: National Bank for Financing Infrastructure and Development Act 10, section 10 National Bank for Financing Infrastructure and Development Act, section 10 of the National Bank for Financing Infrastructure and Development Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 10 of the National Bank for Financing Infrastructure and Development Act, and has it changed?
2 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there is one: most recently National Bank for Financing Infrastructure Income Tax Exemption notification (2022).
When was Section 10 of the National Bank for Financing Infrastructure and Development Act enacted?
Section 10 of the National Bank for Financing Infrastructure and Development Act, cited as National Bank for Financing Infrastructure and Development Act 10, was enacted on 28 Mar 2021 as Act 17 of 2021. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.