Vacation and resignation of office by directors
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 12 of the National Bank for Financing Infrastructure and Development Act, 2021 deals with vacation and resignation of office by directors. If a director-- (a) becomes subject to any of the disqualifications mentioned in section 10 or is removed under section 11; The Act was enacted on 28 Mar 2021.
(1) If a director--
(a) becomes subject to any of the disqualifications mentioned in section 10 or is removed under section 11; or
(b) is absent without leave of the Board for three or more consecutive meetings thereof, his seat shall thereupon become vacant.
(2) Any director may resign his office by giving notice thereof in writing to the Board and on such resignation being accepted by the Board, or, if such resignation is not accepted sooner, on the expiry of three months from the receipt thereof by the Board, such director shall be deemed to have vacated his office.
Section 12, 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 names this provision in its title or its text without being made under it.
Questions about Section 12
What does Section 12 of the National Bank for Financing Infrastructure and Development Act deal with?
Section 12 of the National Bank for Financing Infrastructure and Development Act is headed "Vacation and resignation of office by directors". If a director-- (a) becomes subject to any of the disqualifications mentioned in section 10 or is removed under section 11;
How do I find court cases under Section 12 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 12, section 12 National Bank for Financing Infrastructure and Development Act, section 12 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 12 of the National Bank for Financing Infrastructure and Development Act, and has it changed?
Its own text turns on section 10 (Disqualification and removal of directors from office), section 11 (Removal of Chairperson and other directors in certain cases), so none of them can safely be read on its own. One instrument names it without being made under it, most recently National Bank for Financing Infrastructure and Development General Rules, 2022 (2022).
When was Section 12 of the National Bank for Financing Infrastructure and Development Act enacted?
Section 12 of the National Bank for Financing Infrastructure and Development Act, cited as National Bank for Financing Infrastructure and Development Act 12, 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.