- If in the opinion of the State Government,-

(a) the Corporation is not competent to perform the duties assigned to it by or under this Act or any other law for the time being in force; or

(b) the Corporation persistently makes default in the performance of such duties, or in complying with the lawful directions or orders issued by the State Government or any other authority empowered under any law for the time being in force, to issue such directions or orders, to the Corporation; or

(c) the Corporation exceeds or abuses its powers; or

(d) a situation has arisen in which the administration of the Corporation cannot be carried out in accordance with the provisions of this Act; or

(e) the financial position and the credit of the Corporation is seriously threatened,