SIDBI ActCentral laws1989
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.
Act No. 39 of 1989 · Ministry of Finance
- Sections
- 69
- Chapters
- 9
Contents
IPreliminary§ 1–22 sections
IIEstablishment of the Small Industries Development Bank of India and Capital Thereof§ 3–12A16 sections3 repealed
- 3Establishment and incorporation of Small Industries Development Bank of India.
- 4Authorised capital.
- 4AConversion of equity shares into redeemable preference shares.
- 4BTransfer of capital.
- 4CIssued capital.
- 4DReduction of share capital.
- 4ERestriction on exercising of voting right.
- 5Management.
- 6Constitution of Board.
- 7[Omitted.].(Repealed)
- 8Disqualification of directors.
- 9Vacation and resignation of office by directors.
- 10[Omitted.].(Repealed)
- 11[Omitted.].(Repealed)
- 12Executive Committee and other committees.
- 12AFees and allowances of directors and members of committees.
IVBusiness of the Small Industries Bank§ 13–208 sections
IVBMeetings and Proceedings§ 20F–20G2 sections
VSmall Indutries Development Assistance Fund§ 21–266 sections
- 21Small Industries Development Assistance Fund.
- 22Credits to Small Industries Development Assistance Fund.
- 23Utilisation of Small Industries Development Assistance Fund.
- 24Debits to Small Industries Development Assistance Fund.
- 25Accounts and audit of Small Industries Development Assistance Fund.
- 26Liquidation of Small Industries Development Assistance Fund.
VISmall Industries General, Fund, Accounts and Audit§ 27–315 sections
VIITransfer of Part of Business of Development Bank§ 321 sections
VIIIMiscellaneous§ 33–5424 sections2 repealed
- 33Staff of Small Industries Bank.
- 34Delegation of powers.
- 35Returns.
- 36Obligations as to fidelity and secrecy.
- 37Defects in appointment not to invalidate acts, etc.
- 37AAmounts and securities to be held in trust.
- 38Rights of Small Industries Bank in case of default.
- 39Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate.
- 40Power to call for repayment before agreed period.
- 41Special provisions for enforcement of claims by Small Industries Bank.
- 42Small Industries Bank to have access to records.
- 43Validity of loan or advance not to be questioned.
- 44Indemnity of Directors.
- 45Protection of action taken under this Act.
- 46Nomination by depositors or holders of bonds or other securities.
- 47Arrangement with Small Industries Bank on appointment of directors to prevail.
- 48Act 18 of 1891 to apply in relation to Small Industries Bank.
- 49Act 10 of 1949 not to apply to Small Industries Bank.
- 50[Omitted.].(Repealed)
- 51Liquidation of Small Industries Bank.
- 51APower to make rules by Central Government.
- 52Power to make regulations.
- 53[Repealed].(Repealed)
- 54Power to remove difficulties.