Section 3(3)(d) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(d)[ * * *] [Omitted 'that the board of directors of such asset reconstruction company does not consist of more than half of its total number of directors who are either nominees of any sponsor or associated in any manner with the sponsor or any of its subsidiaries;' by Act No. 44 of 2016.]