Managing Director

(1) The Managing Director shall be the chief executive officer of the Nigam. (2) The terms and conditions of appointment of the Managing Director shall be such as may be prescribed. (1) If a Director— (a) becomes subject to any of the disqualifications mentioned in section 8; (b) is absent without leave of the Board for more than three consecutive meetings thereof without cause sufficient in the opinion of the State Government to vacate his absence, shall be deemed to have vacated his office from the date of notification to this effect and thereupon his seat shall become vacant. (2) A director whose office has been declared vacant under sub-section (1) shall not be eligible for renomination to the Board as a Director for a period of three years.