Section 26(2)(ii) in The Industrial Finance Corporation Act, 1948
(ii)is elected on the Board of such concern by virtue of shares held in the concern by Government, or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956), or by a Corporation established by any other law, by reason only of such nomination or election, as the case may be.] [ Inserted by Act 74 of 1972, Section 14.]