Act 39 of 1989

The Small Industries Development Bank of India 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.

  • Ministry of Finance
  • Department of Financial Services
  • Enacted 1989-10-25
  • 69 sections
SectionTitle
1 Short title, extent and commencement.Read
2 Definitions.Read
3 Establishment and incorporation of Small Industries Development Bank of India.Read
4 Authorised capital.Read
4A Conversion of equity shares into redeemable preference shares.Read
4B Transfer of capital.Read
4C Issued capital.Read
4D Reduction of share capital.Read
4E Restriction on exercising of voting right.Read
5 Management.Read
6 Constitution of Board.Read
7 [Omitted.].Read
8 Disqualification of directors.Read
9 Vacation and resignation of office by directors.Read
10 [Omitted.].Read
11 [Omitted.].Read
12 Executive Committee and other committees.Read
12A Fees and allowances of directors and members of committees.Read
13 Business of Small Industries Bank.Read
14 Loans by Central Government.Read
15 Borrowings and acceptance of deposits by the Small Industries Bank.Read
16 Investment.Read
17 Power to transfer rights.Read
18 Power to acquire rights.Read
19 Loan in foreign currency.Read
20 Grants, donations, etc., to the Small Industries Bank.Read
20A Free transferability of shares.Read
20B Register of shareholders.Read
20C Trust not to be entered on the register of shareholders.Read
20D Board's right to refuse registration of transfer of shares. Read
20E Shares to be securities under the Indian Trusts Act, 1882. Read
20F Annual general meeting. Read
20G Matters to be discussed and procedure in annual general meeting. Read
21 Small Industries Development Assistance Fund. Read
22 Credits to Small Industries Development Assistance Fund. Read
23 Utilisation of Small Industries Development Assistance Fund. Read
24 Debits to Small Industries Development Assistance Fund. Read
25 Accounts and audit of Small Industries Development Assistance Fund. Read
26 Liquidation of Small Industries Development Assistance Fund. Read
27 Small Industries General Fund. Read
28 Preparation of accounts and balance-sheet. Read
29 Disposal of profits accruing to Small Industries General Fund. Read
30 Audit. Read
31 Saving. Read
32 Transfer of part of business of Development Bank. Read
33 Staff of Small Industries Bank. Read
34 Delegation of powers. Read
35 Returns. Read
36 Obligations as to fidelity and secrecy. Read
37 Defects in appointment not to invalidate acts, etc. Read
37A Amounts and securities to be held in trust. Read
38 Rights of Small Industries Bank in case of default. Read
39 Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate. Read
40 Power to call for repayment before agreed period. Read
41 Special provisions for enforcement of claims by Small Industries Bank. Read
42 Small Industries Bank to have access to records. Read
43 Validity of loan or advance not to be questioned. Read
44 Indemnity of Directors. Read
45 Protection of action taken under this Act. Read
46 Nomination by depositors or holders of bonds or other securities.Read
47 Arrangement with Small Industries Bank on appointment of directors to prevail. Read
48 Act 18 of 1891 to apply in relation to Small Industries Bank.Read
49 Act 10 of 1949 not to apply to Small Industries Bank.Read
50 [Omitted.].Read
51 Liquidation of Small Industries Bank.Read
51A Power to make rules by Central Government.Read
52 Power to make regulations.Read
53 [Repealed].Read
54 Power to remove difficulties.Read
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