Section 11(3) in The Industrial Finance Corporation Act, 1948
(3)A casual vacancy in the office of an elected Director shall be filled by election and a Director so elected shall hold office for the unexpired portion of the term of his predecessor:Provided that no casual vacancy occurring within [six months] [ Substituted by Act 2 of 1982, Section 5, certain words (w.e.f. 12.3.1982).] of the date of expiry of the normal term of office of an elected Director need be filled under this sub-section.
