Act Info:Preamble1 - THE INDUSTRIAL RECONSTRUCTION BANK OF INDIA ACT, 1984
Chapter I
Section1 - Short title and commencement
Section2 - Definitions
Chapter II
Section3 - Establishment of the Reconstruction Bank
Section4 - Authorised capital
Section4A - Transitional Provisions regarding adjustment of capital of the Reconstruction Bank
Chapter III
Section5 - Undertaking of the Corporation to be transferred to the Reconstruction Bank
Section6 - Power of Central Government to authorise a person to take over the management of the Corporation
Section7 - Transfer of the services of the officers and other employees of the Corporation to the Reconstruction Bank
Section8 - Dissolution of the Corporation
Chapter IV
Section9 - Management
Section10 - Board of directors
Section11 - Disqualifications of membership of the Board
Section12 - Term of office, salaries and allowances of Chairman
Section13 - Disclosure of interest
Section14 - Meetings of the Board
Section15 - Executive Committee and other committees
Section16 - Existence of vacancy in, or defect in the constitution of, the Board or defect or disqualification of a member not to invalidate the proceedings of the Board
Section17 - Fees and allowances of directors and members of committees
Chapter V
Section18 - Objects and business of the Reconstruction Bank
Section19 - Prohibited business
Section20 - Loans by Central Government
Section21 - Borrowing and acceptance of deposits by the Reconstruction Bank
Section22 - Power to transfer rights
Section23 - Loans in foreign currency
Section27 - Grants, donations, etc., to the Reconstruction Bank
Chapter VI
Section25 - Reconstruction Assistance Fund
Section26 - Credits to the Reconstruction Assistance Fund
Section27 - Utilisation of Reconstruction Assistance Fund
Section28 - Debits to Reconstruction Assistance Fund
Section29 - Accounts and audit of Reconstruction Assistance Fund
Section30 - Liquidation of Reconstruction Assistance Fund
Chapter VII
Section31 - General Fund
Section32 - Preparation of accounts and balance-sheet
Section33 - Disposal of profits accruing to General Fund
Section34 - Audit
Section35 - Saving
Chapter VIII
Section36 - Power to impose conditions for assistance
Section37 - Assistance to industrial concern when to operate as a charge on the property offered as security
Section38 - Power to call for repayment before agreed period
Section39 - Rights of Reconstruction Bank in case of default
Section40 - Enforcement of claims by the Reconstruction Bank
Section41 - Power of Reconstruction Bank relating to property offered as primary or collateral security
Section42 - Power of Reconstruction Bank to appoint directors or administrators of an industrial concern when management thereof is taken over
Section43 - Effect of notified order under section 42
Section44 - Powers and duties of directors and administrators
Section45 - No right to compensation for termination of contract of managing director, etc
Section46 - Application of Act 1 of 1956
Section47 - Restriction on filing of suits for dissolution, etc., of an industrial concern not being a company when its management is taken over
Section48 - Official assignee or receiver not to be appointed without the consent of the Reconstruction Bank
Section49 - Power of Central Government to grant relief in the case of certain assisted industrial concerns
Section50 - Power of High Court to authorise Reconstruction Bank to prepare scheme for reconstruction, etc., of industrial concern
Section51 - Chief Metropolitan Magistrate and District Magistrate to assist Reconstruction Bank in taking charge of property
Chapter IX
Section52 - Effect of the Act on other laws
Section53 - Act 43 of 1961, Act 7 of 1964 and Act 45 of 1974 not to apply to Reconstruction Bank
Section54 - Law relating to winding up not to apply to the Reconstruction Bank
Section55 - Act 18 of 1891 to apply to the books of the Reconstruction Bank
Section56 - Certain provisions of Act 10 of 1949 not to apply to Reconstruction Bank
Section57 - Act 54 of 1969 not to apply to the expansion or amalgamation of certain undertakings
Section58 - Returns
Section59 - Delegation of powers
Section60 - Staff of the Reconstruction Bank
Section61 - Obligations as to fidelity and secrecy
Section62 - Provident fund
Section63 - Indemnity of directors
Section64 - Protection of action taken in good faith
Section65 - Chairman, director, etc., to be public servants
Section66 - Penalty for making false statement in applications for loans and advances
Section67 - Offences by companies
Section68 - Power to make rules
Section69 - Power of Reconstruction Bank to make regulations
Section70 - Power to remove difficulties
Section71 - Amendment of certain enactments
Section72 - Substitution in Acts, rules or regulations of the Reconstruction Bank in place of the Corporation
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE
ScheduleIII - THIRD SCHEDULE