INDUSTRIAL DEVELOPMENT BANK OF INDIA ACT, 1964

Enter the Future of Legal Excellence with SupremeToday AI

Elevate your legal practice with advanced AI-driven research and drafting solutions. Experience unmatched efficiency, precision, and security, tailored exclusively for legal professionals.

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

S.1 Short title, extent and commencement

S.2 Definitions

S.3 Establishment and incorporation of Industrial Development Bank of India

S.4(e) Conversion of equity shares into redeemable preference shares

S.4(c) Issued capital

S.4(a) Transfer of capital to Central Government

S.4(d) Reduction of share capital

S.4(b) Payment of amount

S.4 Authorised capital

S.5 Management

S.6(b) Disqualification of directors

S.6(a) Financial Institution

S.6(c) Vacation of office by director

S.6 Constitution of Board

S.7 Executive Committee and other committees

S.8 Fees and allowances of directors and members of committees

S.9(a) Prohibited business

S.9 Business of Development Bank

S.10 Loans by Central Government

S.11(b) Power to acquire rights

S.11 Borrowings and acceptance of deposits by Development Bank

S.11(a) Power to transfer rights

S.12 Loans in foreign currency

S.13(b) Register of shareholders

S.13(a) Free transferability of shares

S.13(h) Matters to be discussed and procedure in annual general meeting

S.13(g) Restriction on exercising of voting right

S.13 Grants donations, etc., to Development Bank

S.13(f) Annual general meeting

S.13(e) Shares to be securities under the Indian Trusts Act, 1882

S.13(d) Board’s right to refuse registration of transfer of shares

S.13(c) Trust not to be entered on the register of shareholders

S.14 Development Assistance Fund

S.15 Credits to Development Assistance Fund

S.16 Utilisation of Development Assistance Fund

S.17 Debits to Development Assistance Fund

S.18 Accounts and Audit of Development Assistance Fund

S.19 Liquidation of Development Assistance Fund

S.20 General Fund

S.21 Preparation of accounts and balance-sheet

S.22 Disposal of profits accruing to General Fund

S.23 Audit

S.24 Saving

S.25 Transfer of assets and liabilities of Refinance Corporation for Industry

S.26 Staff of Development Bank

S.27 Delegation of powers

S.28 Returns

S.29 Obligation as to fidelity and secrecy

S.30 Defects in appointments not to invalidate acts, etc

S.30(a) Arrangement with Development Bank on appointment of directors to prevail

S.31 Indemnity of directors

S.32 Protection of action taken under this Act

S.32(a) Nomination in respect of deposits, bonds, etc

S.33 Act 18 of 1891 to apply in relation to Development Bank

S.34 Act 10 of 1949 not to apply to Development Bank

S.35 Act 43 of 1961 and 14 of 1963 not to apply to Development Bank

S.36 Liquidation of Development Bank

S.37 Power to make regulations

S.38 Amendment of certain enactments

S.39 Power to remove difficulty

Sch.I Declaration of fidelity and secrecy

Enter the Future of Legal Excellence with SupremeToday AI