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The Small Industries Development Bank of India Act,1989

The Small Industries Development Bank of India Act,1989

CONTENTS

Sections

Particulars

1Short title, extent and commencement
2Definitions
3Establishment and incorporation of Small Industries Development Bank of India
4Authorised capital
5Management
6Constitution of Board
7Managing Director
8Disqualifications
9Vacation and resignation of office by Directors
10Casual vacancies in office of Managing Director
11Meetings of the Board
12Committees
13Business of Small Industries Bank
14Loans by Central Government
15Borrowings and acceptance of deposits by the Small Industries Bank
16Investment
17Power to transfer rights
18Power to acquire rights
19Loans in foreign currency
20Grants, donations, etc., to the small Industries Bank
21Small Industries Development Assistance Fund
22Credits to Small Industries Development Assistance Fund
23Utilisation of Small Industries Development Assistance Fund
24Debits to Small Industries Development Assistance Fund
25Accounts and audit of Small Industries Development Assistance Fund
26Liquidation of Small Industries Development Assistance Fund
27Small Industries General Fund
28Preparation of accounts and balance sheet
29Disposal of profits accruing to Small Industries General fund
30Audit
31Saving
32Transfer of part of business of Development Bank
33Staff of Small Industries Bank
34Delegation of powers
35Returns
36Obligations as to fidelity and secrecy
37Defects in appointment not to invalidate acts etc
38Rights of Small Industries Bank in case of default
39Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate
40Power to call for repayment before agreed period
41Special provisions for enforcement of claims by Small Industries Bank
42Small Industries Bank to have access to records
43Validity of loan or advance not to be questioned
44Indemnity of Directors
45Protection of action taken under this Act
46Nomination by depositors or holders of bonds or other securities
47Arrangement with Small Industries Bank on appointment of directors to prevail
48Act 18 of 1801 to apply in relation to Small Industries Bank
49Act 10 of 1949 not to apply to Small Industries Bank
50Act 43 of 1961 not to apply to Small Industries Bank
51Liquidation of Small Industries Bank
52Power to make regulations
53Amendment of certain enactments
54Power to remove difficulties
Schedule
Schedule 1
Schedule 2

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