THE TECHNOLOGY DEVELOPMENT BOARD ACT, 1995 [Act, No.44 of 1995] [16th December, 1995] PREAMBLE An Act to provide for the constitution of a Board for payment of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology to wider domestic applications and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-sixth Year of the Republic of India as follows:-
View Complete Act List Judgments citing this sectionIn this Act, unless the context otherwise requires- (a) "Board" means the Technology Development Board constituted under sub-section (1) of section 3; (b) "Chairperson" means the Chairperson of the Board; (c) "Fund" means the Fund for Technology Development and Application constituted under sub-section (1) of section 9; (d) "member" means a member of the Board and includes the Chairperson; (e) "prescribed" means prescribed by rules made under this Act; (f) "Secretary" means the Secretary of the Board appointed under sub-section (1) of section 4; (g) words and expressions used herein and not defined but defined in the Research and Development Cess Act, 1986,(32 of 1986) shall have the meanings respectively assigned to them in that Act.
View Complete Act List Judgments citing this section(1) The Board may appoint the Secretary and such other officers and employees as it considers necessary for the efficient discharge of its functions under this Act. (2) The terms and conditions of service of the Secretary and other officer and employees of the Board shall be such as may be determined by regulations.
View Complete Act List Judgments citing this section(1) Subject to the rules made in this behalf, the Board may appoint such committees as may be necessary for the efficient discharge of its duties and performance of its functions under this Act. (2) The Board shall have the power to co-opt as members of any committee appointed under sub-section (1), such number of persons who are not members of the Board as it may think fit, and the persons so co-opted shall have the right to attend the meetings of the committee, and take part in the proceedings of the committee, but shall not have the right to vote.
View Complete Act List Judgments citing this section(1) An application for grant of financial assistance for the purposes mentioned under section 6 shall be made to the Board in such form as may be prescribed. (2) The Board may, after examining the application and after making such enquiries as it deems necessary by order in writing, either grant the financial assistance or refuse to grant the same: Provided that no refusal of grant shall be made unless an opportunity is given to the applicant of being heard.
View Complete Act List Judgments citing this section(1) An application for grant of financial assistance for the purposes mentioned under section 6 shall be made to the Board in such form as may be prescribed. (2) The Board may, after examining the application and after making such enquiries as it deems necessary by order in writing, either grant the financial assistance or refuse to grant the same: Provided that no refusal of grant shall be made unless an opportunity is given to the applicant of being heard.
View Complete Act List Judgments citing this sectionOn and from the commencement of this Act,- (a) the moneys standing at the credit of the Venture Capital Fund formed under section 5 of the Research and Development Cess Act, 1986 (32 of 1986) which is part of the Development Assistance Fund established by the Development Bank under section 14 of the Industrial development Bank of India Act, 1964 (18 of 1964) shall stand transferred to and vest in the Board; (b) all sums of money due to the Development Bank immediately before such commencement shall be deemed to be due to the Board; (c) all debts, obligations and liabilities incurred, all contracts or agreements entered into and all matters and things engaged to be done by, with or for the Development Bank immediately before such commencement for or connection with the purpose of the Venture Capital Fund shall be deemed to have been incurred, entered into or engaged to be done by, with or for the Board; and (d) all suits and other regard proceedings instituted or which could have been instituted by or against the Development Bank immediately before such commencement may be continued or instituted by or against the Board.
View Complete Act List Judgments citing this section(1) An industrial concern or an institution receiving financial assistance from the Board shall furnish returns to the Board in such form and at such time as may be determined by regulations. (2) The Board may authorise an officer to visit any industrial concern or institution referred to in sub-section (1) at any time to verify the accuracy of any return made under this section.
View Complete Act List Judgments citing this sectionThe Board may, by general or special order in writing, delegate to the Chairperson or any other member or to any officer of the Board Subject to such conditions and limitations, if any, as may be specified in the order, such of its powers and functions under this Act (except the power under section 22) as it may deem necessary.
View Complete Act List Judgments citing this sectionAll members, officer and other employees of the Board shall be deemed, when acting or purporting to act in pursuance of the Board shall be deemed, when acting or purporting to act pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code.(45 of 1860)
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