Act Number: 7

Act Name: The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997

Year: 1997

Enactment Date: 1997-03-19

Long Title: An Act to provide for the transfer and vesting of the undertakings of the Industrial Reconstruction Bank of India to and in the Company to be formed and registered as a Company under the Companies Act, 1956, and for matters connected therewith or incidental thereto and also to repeal the Industrial Reconstruction Bank of India Act, 1984.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 2: Definitions.
    In this Act, unless the context otherwise requires--
         (a) "appointed day" means such date as the Central Government may, by notification in the Official Gazette, appoint under section 3;
         (b) "Company" means the Industrial Investment Bank of India Limited to be formed and registered under the Companies Act, 1956 (1 of 1956);
         (c) "Reconstruction Bank" means the Industrial Reconstruction Bank of India established under sub-section (1) of section 3 of the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984).
Scroll to Top