Section 63 in The Industrial Development Bank Of India General Regulations, 1994
63. Nomination of candidates for election .-(1) No candidate for election as a director shall be validly nominated unless:-
(a)he is on the last date for receipt of nomination, not disqualified to be a director under sub-section (1) of section 6-B of the Act;(b)the nomination is in writing signed by at least two shareholders entitled to elect directors under clause (e) of sub-section (1) of section 6 of the Act or by their duly constituted attorney, provided that a nomination by a shareholder who is a body corporate may be made by resolution of the directors of the said body corporate and where it is so made, a copy of the resolution certified to be a true copy by the chairman of the meeting at which it was passed shall be despatched to the head office of the Development Bank and such copy shall be deemed to be a nomination on behalf of such body corporate;(c)the nomination shall accompany or contain a declaration signed by the candidate before a Judge, Magistrate, Registrar or Sub-Registrar of Assurances or other Gazetted Officer or an officer of a nationalised bank or Development Bank, that he accepts the nomination and is willing to stand for election, and that he is not disqualified for election under section 6-B of the Act.(2)No nomination shall be valid unless it is complete in all respects and received, in the head office of the Development Bank on a working day not less than fourteen clear days before the date fixed for the meeting.
