Section 37A:
Amounts and securities to be held in trust.
1[37A. Amounts and securities to be held in trust.--(1) Any sums received by a borrowing
institution in repayment or realisation of loans and advances refinanced either wholly or partly by the
Small Industries Bank shall, to the extent of the accommodation granted by the Small Industries Bank and
remaining outstanding, be deemed to have been received by the borrowing institution in trust for the
Small Industries Bank, and shall accordingly be paid by such institution to the Small Industries Bank, as
per the repayment schedule fixed by the Small Industries Bank.
(2) Where an accommodation has been granted to a borrowing institution, all securities held, or which
may be held, by such borrowing institution, on account of any transaction in respect of which such
accommodation has been granted by the Small Industries Bank, shall be held by such institution in trust
for the Small Industries Bank.]
Notes:
1. Ins. by s. 22, ibid. (w.e.f. 27-3-2000).