Section 42(e) in Orissa State Financial Corporation (Staff) Regulations, 1975
(e)Notwithstanding anything contained in the proceeding Sub-Regulations of this Regulation, the Managing Director, may at any time, call for a statement of his/her debts from any employee and after considering the facts and explanations, he may with the previous approval of the Board and after giving sufficient notice in that behalf, terminates the services of such employees.
