The Sick Industrial Companies Act,1985
7. REMOVAL OF MEMBERS FROM OFFICE IN CERTAIN CIRCUMSTANCES.
(1) The Central Government may remove from office any Member, who –
(a) has been adjudged as insolvent, or
(b) has been convicted of an offence, which, in the opinion of the Central Government, involves moral turpitude, or
(c) has become physically or mentally incapable of acting as a Member, or
(d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member, or
(e) has so abused his position as to render his continuance in office prejudicial to the public interest.
(2) Notwithstanding anything contained in sub-section (1), no member, shall be removed from his office on the ground specified in clause (d) or clause (e) of that sub-section unless the Supreme Court on a reference being made to it in this behalf by the Central Government, has on an enquiry held by it in accordance with such procedure as it may specify in this behalf, reported that the member ought, on such grounds, to be removed.