Section 70 in The Small Industries Development Bank Of India (General Regulations), 2000*
70. Retirement of directors co-opted .-Subject to clause (f) of sub-section (1) of section 6 of the Act, the directors co-opted by the Board shall retire in the order of co-option on assumption of charge by the director or directors elected by the shareholders other than the Development Bank, the Public Sector Banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government. If the co-option of more than one director is made on the same day, the retirement of such co-opted director(s) will be on the basis of descending order or in order of the name first written (in case the names are written in horizontal order), as the case may be, as appearing in the resolution passed by the Board for co-option of such directors.
