Section 8:
Guarantee to be operative.
Any guarantee given for or in favour of the Development Bank with
respect to any loan, lease, finance or other assistance shall continue to be operative in relation to the
Company.
53/2003 - The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 ▶
Act Number: 53
Act Name: The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
Year: 2003
Enactment Date: 2003-12-30
Long Title: 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.
Ministry: Ministry of Finance
Department: Department of Financial Services