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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

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

Indian Laws – Bare Acts

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