Reserve Bank of India Act, 1934

Section - 45-ID - Power of Bank to remove directors from office

[Power of Bank to remove directors from office

45-ID. (1) Where the Bank is satisfied that in the public interest or to prevent the affairs of a non-banking financial company being conducted in a manner detrimental to the interest of the depositors or creditors, or financial stability or for securing the proper management of such company, it is necessary so to do, the Bank may, by order and for reasons to be recorded in writing, remove from office, a director (by whatever name called) of such company, other than Government owned non-banking financial company with effect from such date as may be specified in the said order.

(2) No order under sub-section (1) shall be made unless the director concerned has been given a reasonable opportunity of making a representation to the Bank against the proposed order:

Provided that if, in the opinion of the Bank, any delay will be detrimental to the interest of the said company or its depositors, the Bank may, at the time of giving the aforesaid opportunity or at any time thereafter, by order direct that, pending the consideration of the representation, if any, the director, shall not, with effect from the date of such order--

(a)	-	act as such director of that company;
(b)	-	in any way, wheth .... To read the full section download the app from Google Play store Latest Job Openings View all Featured 28 March 2026 CA Final Ashok Amol & Associates New Delhi CA Final View Details Featured ARTICLESHIP 19 March 2026 Article Assistant Gupta Sachdeva & Co. Chartered Accountants New Delhi CA Final View Details Featured 28 March 2026 Accountant Ashok Amol & Associates New Delhi B.Com View Details Featured 13 April 2026 GST CONSULTANCY Abhishek G Agrawal & Co. Korba CA Final View Details Featured 29 April 2026 Manager- Finance and Compliance Naveen Fintech Pvt Ltd Kolkata CA Inter View Details Featured 14 April 2026 GST CONSULTANT Abhishek G Agrawal & Co. Korba CA Final View Details Articles Forum Jobs Judiciary Settings News Experts Share Files Notification Certification Courses Budget 26-27 Feed Bookmarks Top Members CCI Rewards Academy Books CCI Learning Group CCI Pro Member Strength 4281844 and growing.. Find Us On About We are Hiring Media Coverage Advertise Terms of Service Disclaimer Privacy Policy Contact Us © 2026 CAclubindia.com. India's largest network for Finance Professionals Share Facebook Twitter Linkedin Reddit Email Whatsapp Gmail Pocket Print Pinterest PDF Translate Whatsapp Groups GST Income Tax CA Final CA Inter CAclubindia Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now

Reserve Bank of India Act, 1934

Section - 45-ID - Power of Bank to remove directors from office

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