Section 10(1) in The Industrial Reconstruction Bank Of India Act, 1984
(1)The Board shall consist of the following, namely:--(a)a Chairman, to be appointed by the Central Government, who shall function both as the Chairman and as the managing director;(b)a Deputy Governor of the Reserve Bank, to be nominated by that Bank;(c)a director, to be nominated by the Development Bank;(d)not more than fifteen directors to be nominated by the Central Government, of whom--(i)three shall be officials of the Central Government,(ii)not more than three shall be from the public financial institutions,(iii)not more than five shall be from the State Bank, nationalised banks and the State Financial Corporations,(iv)not more than four shall be from among persons who have, in the opinion of the Central Government, special knowledge of, and professional experience in, science, technology, economics, industry, industrial co-operatives, law, industrial finance, investment, accountancy, marketing or any other matter, the special knowledge of, or professional experience in, which would in the opinion of the Central Government, be useful to the Reconstruction Bank.
