Section 6
Concession, etc., to be deemed to have been granted to Company.
The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
About this Act
An Act to provide for the transfer and vesting of the undertaking of the Industrial Development Bank of India to, and in, the Company to be formed and registered as a Company under the Companies Act, 1956 to carry on banking business and for matters connected therewith or incidental thereto and also to repeal the Industrial Development Bank of India Act, 1964.
With effect from the
appointed day, all fiscal and other concessions, licences, benefits, privileges and exemptions granted to
the Development Bank, in connection with the affairs and business of the Development Bank under any
law for the time being in force shall be deemed to have been granted to the Company.