Section 12(2) in The Industrial Reconstruction Bank Of India Act, 1984
(2)Notwithstanding anything contained in sub-section (1),--(a)the Central Government shall have the right to terminate the term of office of the Chairman at any time before the expiry of the term specified under sub-section (1) by giving him notice of not less than three months in writing or three months' salary and allowances in lieu of such notice; and the Chairman shall also have the right to relinquish his office at any time before the expiry of the term specified under sub-section (1) by giving, to the Central Government, notice of not less than three months in writing;(b)the Central Government may, at any time, remove the Chairman from office:Provided that no person shall be removed from his office under this clause, unless he has been given a reasonable opportunity of showing cause against his removal.
