law: Sick Industrial Companies (Special Provisions) Act, 1985
  4. Establishment of Board 
  (1) With effect from such date as the Central Government may, by
  
  notification, appoint, there shall be established a Board to be known as the
  
  "Board for Industrial and Financial Reconstruction" to exercise the
  
  jurisdiction and powers and discharge the functions and duties conferred or
  
  imposed on the Board by or under this Act.
  (2) The Board shall consist of a Chairman and not less than two
  
  and not more than fourteen other members, to be appointed by the Central
  
  Government.
  (3) The Chairman and other members of the Board shall be persons
  
  who are or have been or are qualified to be High Court Judges, or persons of
  
  ability, integrity and standing who have special knowledge of, and professional
  
  experience of not less than fifteen years in science, technology, economics,
  
  banking industry, law, labor matters, industrial finance, industrial
  
  management, industrial reconstruction, administration, investment, accountancy,
  
  marketing or any other matter, the special knowledge of , or professional
  
  experience in which, would be in the opinion of the Central Government useful
  
  to the Board.