Section 47(2) in The Small Industries Development Bank Of India Act, 1989
(2)Any Director appointed as aforesaid shall-(a)hold office during the pleasure of the Small Industries Bank and may be removed or substituted by any person by order in writing of the Small Industries Bank;(b)not incur any obligation or liability by reason only of his being a director or for anything done or omitted to be done in good faith in the discharge of his duties as a Director or anything in relation thereto;(c)not be liable to retirement by rotation and shall not be taken into account for computing the number of Directors liable to such retirement.
