Section 61(4) in The Industrial Development Bank Of India General Regulations, 1994
(4)An instrument of proxy deposited with the Development Bank shall be irrevocable unless:(a)on or before the last date of deposit of proxy, there shall have been deposited at the head office of the Development Bank a notice in writing under the hand or common seal of the granter specifically stating-(i)the name of the person in whose favour the instrument was granted; and(ii)that such instrument is revoked; and(b)the same is deemed to be invalid under sub-regulation (6).
