Section List

39/1989 - The Small Industries Development Bank of India Act, 1989 ▶

Act Number: 39

Act Name: The Small Industries Development Bank of India Act, 1989

Year: 1989

Enactment Date: 1989-10-25

Long Title: 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: Ministry of Finance

Department: Department of Financial Services

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