Small Industries Development Bank of India Act, 1989
Bare Act · 1989
An Act to establish the Small Industries Development Bank of India as the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto.
- Act number
- 39 of 1989
- Enacted
- 25 October 1989
- Contents
- 69 sections · 9 chapters
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Contents
Chapter I — Preliminary
Chapter II — Establishment Of The Small Industries Development Bank Of India And Capital Thereof
- Section 3 – Establishment and incorporation of Small Industries Development Bank of India
- Section 4 – Authorised capital
- Section 4A – Conversion of equity shares into redeemable preference shares
- Section 4B – Transfer of capital (preview)
- Section 4C – Issued capital (preview)
- Section 4D – Reduction of share capital (preview)
- Section 4E – Restriction on exercising of voting right (preview)
- Section 5 – Management (preview)
- Section 6 – Constitution of Board (preview)
- Section 7 – [Omitted.] (preview)
- Section 8 – Disqualification of directors (preview)
- Section 9 – Vacation and resignation of office by directors (preview)
- Section 10 – [Omitted.] (preview)
- Section 11 – [Omitted.] (preview)
- Section 12 – Executive Committee and other committees (preview)
- Section 12A – Fees and allowances of directors and members of committees (preview)
Chapter VI — Business Of The Small Industries Bank
- Section 13 – Business of Small Industries Bank (preview)
- Section 14 – Loans by Central Government (preview)
- Section 15 – Borrowings and acceptance of deposits by the Small Industries Bank (preview)
- Section 16 – Investment (preview)
- Section 17 – Power to transfer rights (preview)
- Section 18 – Power to acquire rights (preview)
- Section 19 – Loan in foreign currency (preview)
- Section 20 – Grants, donations, etc., to the Small Industries Bank (preview)
Chapter IVA — Shares
- Section 20A – Free transferability of shares (preview)
- Section 20B – Register of shareholders (preview)
- Section 20C – Trust not to be entered on the register of shareholders (preview)
- Section 20D – Board's right to refuse registration of transfer of shares (preview)
- Section 20E – Shares to be securities under the Indian Trusts Act, 1882 (preview)
Chapter IVB — Meetings And Proceedings
- Section 20F – Annual general meeting (preview)
- Section 20G – Matters to be discussed and procedure in annual general meeting (preview)
Chapter V — Small Indutries Development Assistance Fund
- Section 21 – Small Industries Development Assistance Fund (preview)
- Section 22 – Credits to Small Industries Development Assistance Fund (preview)
- Section 23 – Utilisation of Small Industries Development Assistance Fund (preview)
- Section 24 – Debits to Small Industries Development Assistance Fund (preview)
- Section 25 – Accounts and audit of Small Industries Development Assistance Fund (preview)
- Section 26 – Liquidation of Small Industries Development Assistance Fund (preview)
Chapter VI — Small Industries General, Fund, Accounts And Audit
- Section 27 – Small Industries General Fund (preview)
- Section 28 – Preparation of accounts and balance-sheet (preview)
- Section 29 – Disposal of profits accruing to Small Industries General Fund (preview)
- Section 30 – Audit (preview)
- Section 31 – Saving (preview)
Chapter VII — Transfer Of Part Of Business Of Development Bank
Chapter VIII — Miscellaneous
- Section 33 – Staff of Small Industries Bank (preview)
- Section 34 – Delegation of powers (preview)
- Section 35 – Returns (preview)
- Section 36 – Obligations as to fidelity and secrecy (preview)
- Section 37 – Defects in appointment not to invalidate acts, etc (preview)
- Section 37A – Amounts and securities to be held in trust (preview)
- Section 38 – Rights of Small Industries Bank in case of default (preview)
- Section 39 – Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate (preview)
- Section 40 – Power to call for repayment before agreed period (preview)
- Section 41 – Special provisions for enforcement of claims by Small Industries Bank (preview)
- Section 42 – Small Industries Bank to have access to records (preview)
- Section 43 – Validity of loan or advance not to be questioned (preview)
- Section 44 – Indemnity of Directors (preview)
- Section 45 – Protection of action taken under this Act (preview)
- Section 46 – Nomination by depositors or holders of bonds or other securities (preview)
- Section 47 – Arrangement with Small Industries Bank on appointment of directors to prevail (preview)
- Section 48 – Act 18 of 1891 to apply in relation to Small Industries Bank (preview)
- Section 49 – Act 10 of 1949 not to apply to Small Industries Bank (preview)
- Section 50 – [Omitted.] (preview)
- Section 51 – Liquidation of Small Industries Bank (preview)
- Section 51A – Power to make rules by Central Government (preview)
- Section 52 – Power to make regulations (preview)
- Section 53 – [Repealed] (preview)
- Section 54 – Power to remove difficulties (preview)