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Start Free TrialSmall Industries Developement Bank of India Act, 1989 Section 41
Title: Special Provisions for Enforcement of Claims by Small Industries Bank
State: Central
Year: 1989
.....advance under section 40 and such industrial concern fails to make such repayment, then, without prejudice to the provisions of section 38 of this Act and section 69 of the Transfer of Property Act, 1882 (4 of 1882), any officer of that Bank, generally or specially authorised by that Bank in this behalf, may apply to the court for one or more of the following reliefs, namely:-- (a) for an order for the sale of the property assigned, charged, hypothecated, mortgaged or pledged to that Bank as security for the loan or advance; or (b) for enforcing the liability of any surety; or (c) for an ad interim injunction restraining the industrial concern in the small-scale sector from transferring or removing its machinery, plant or equipment from the premises of such industrial concern without the permission of the Small Industries Bank, where such transfer or removal is apprehended. (2) An application under sub-section (1) shall state the nature and extent of the liability of the industrial concern in the small-scale sector to the Small Industries Bank, the ground on which it is made and such other particulars as may be necessary for obtaining the relief prayed for. (3) Where.....
View Complete Act List Judgments citing this sectionState Bank of India Act, 1955 Chapter 3
Title: Transfer of Undertaking of the Imperial Bank to State Bank
State: Central
Year: 1955
.....the State Bank shall be entitled to claim refund of any sum so paid if the payment is not confirmed by the Central Government by general or special order. Section 8 - Existing provident and other funds of the Imperial Bank For the persons who immediately before the appointed day are the trustees of the following funds, that is to say,-- (a) the Imperial Bank of India Employees' Provident Fund; (b) the Imperial Bank of India Employees' Pension and Guarantee Fund ; (c) the Bank of Bombay Officers' Pension and Guarantee Fund ; (d) the Bank of Madras Pension and Gratuity Fund; and (e) the Bank of Madras Officers' Provident and Mutual Guarantee Fund ; there shall be substituted as trustees such persons as the Central Government may, by general or special order, specify. Section 9 - Compensation to be given to shareholders of Imperial Bank (1) Every person who immediately before the appointed day is registered as a holder of shares in the Imperial Bank shall be entitled to compensation in accordance with the provisions contained in the First Schedule. (2) Nothing contained in sub-section (1) shall affect the rights inter se between the holder of any share in the.....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Chapter VIII
Title: Special Powers of the Reconstruction Bank
State: Central
Year: 1984
.....of management of an industrial concern shall be entitled to any compensation for the loss of office or for the premature termination, under this Act, of any contract of management entered into by him with such concern. (2) Nothing contained in sub-section (1) shall affect the right of any such managing or whole-time director, or any other director or manager or any such person in charge of management to recover from the industrial concern, moneys recoverable otherwise than by way of such compensation. Section 46 - Application of Act 1 of 1956 (1) Where the management of an industrial concern, being a company as defined in the Companies Act, 1956, is taken over by the Reconstruction Bank, then notwithstanding anything contained in the said Act or in the memorandum or articles of association of such concern,-- (a) it shall not be lawful for the shareholders of such concern or any other person to nominate or appoint any person to be a director of the concern; (b) no resolution passed at any meeting of the shareholders of such concern shall be given effect to unless approved by the Reconstruction Bank; (c) no proceeding for the winding up of such concern or for the.....
View Complete Act List Judgments citing this sectionIndustrial Development Bank of India Act, 1964 [Repealed] Chapter 4
Title: Business of the Development Bank
State: Central
Year: 1964
.....by Act 5 of 1995, sec. 12, for "which may be notified by the Central Government in this behalf (w.r.e.f. 12-10-1994). 3. Certain words Inserted by Act 75 of 1972, sec. 3 and omitted by Act 52 of 1975, sec. 11. 4. Substituted by Act 75 of 1972, sec. 3, for "on the expiry of not less than three years and not more than twenty-five years". 5. Substituted by Act 75 of 1972, sec. 3, for "on the expiry of not less than three years and not more then ten years". 6. Substituted by Act 75 of 1972, sec. 3, for "and are repayable on the expiry of not less than six months and not more than ten years". 7. Substituted by Act 75 of 1972, sec. 3, for "promissory notes of industrial concerns". 8. Substituted by Act 75 of 1972, sec. 3, for "any other financial institution". 9. Inserted by Act 35 of 1986, sec. 7. 10. Substituted by Act 75 of 1972, sec. 3, for "which may at the option of the Development Bank be convertible". 11. Inserted by Act 75 of 1972, sec. 3. 12.Substituted by Act 35 of 1986, sec. 7. 13. Substituted by Act 52 of 1975, sec. 11, for "on the recommendation of". 14. The words "on the recommendation of the Reserve Bank" omitted by Act 52 of 1975, sec. 11. .....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 40
Title: Enforcement of Claims by the Reconstruction Bank
State: Central
Year: 1984
.....assistance granted to it and the industrial concern fails to make such repayment, then, without prejudice to the provisions of Section 39 of this Act and of Section 69 of the Transfer of Property Act, 1882, any officer of the Reconstruction Bank generally or specifically authorised by the Board in this behalf, may apply to the concerned High Court for one or more of the following reliefs, namely :-- (i) for an order for the sale or lease of the property assigned, charged, hypothecated, mortgaged or pledged to the Reconstruction Bank as security for the assistance granted to it, or for the sale or lease of any other property, of the industrial concern, or (ii) for transferring the management of the industrial concern to the Reconstruction Bank or to its nominee; or (iii) for an ad interim injunction restraining the industrial concern from transferring or removing its machinery, plant or equipment from the premises of the industrial concern without the previous permission of the Board, where such transfer or removal is apprehended; or (iv) for an order for the appointment of a receiver where there is apprehension of the machinery, equipment or any other property of.....
View Complete Act List Judgments citing this sectionState Bank of India Act, 1955 Section 7
Title: Transfer of Service of Existing Officers and Employees of the Imperial Bank to the State Bank
State: Central
Year: 1955
.....by the Central Government and the decision of the Central Government thereon shall be final. (3) Notwithstanding anything contained in sub-section (1) or sub- section (2), no appointment made or promotion, increment in salary, pension, allowance or any other benefit granted to any person after the 19th day of December, 1954, and before the appointed day which would not ordinarily have been made or granted or which would not ordinarily have been admissible under the rules or authorisations of the Imperial Bank or of any provident, pension or other fund in force prior to the 19th day of December, 1954, shall have effect or be payable or claimable from the State Bank or from any provident, pension or other fund, or from any authority administering the fund, unless the Central Government has, by general or special order, confirmed the appointment, promotion or increment or has directed the continued grant of the pension, allowance or other benefit as the case may be. (4) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947), or in any other law for the time being in force, the transfer of the services of any officer or other employes of the.....
View Complete Act List Judgments citing this sectionState Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Section 11
Title: Transfer of Service of Existing Officers and Employees of the Sikkim Bank to the Co-operative Bank
State: Central
Year: 1982
.....whether he has so observed such conditions the question shall be determined by the State Government. (3) Notwithstanding anything contained in sub-section (1) or sub-section (2) no appointment made or promotion, increment in salary, pension allowance or any other benefit granted to any person after the 16th day of November 1976, and before the appointed day which would not ordinarily have been made or granted or which would not ordinarily have been admissible under the rules or authorisation of the Sikkim, Bank or of any provident fund or other fund in force prior to the 16th day of November 1976., shall have effect or be payable or claimable from the co-operative bank or from any provident fund, pension or other fund or from any authority administering the fund, unless the State Government has by general or special order, confirmed the appointment promotion or increment or has directed the continued grant of the pension allowance or other benefit as the case may be. (4) Notwithstanding anything contained in the Industrial Disputes Act.1947 (14 of 1947), or in any other law for the time being in force, the transfer of the services of any officer or other employee of the.....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 7
Title: Transfer of the Services of the Officers and Other Employees of the Corporation to the Reconstruction Bank
State: Central
Year: 1984
.....of, or any other benefits, such person may enforce his claim against the Reconstruction Bank. (4) Notwithstanding anything contained in sub-section (1) or sub-section (2), no application made or promotion, increment in salary, allowance or any other benefit granted to any person, before the appointed day, which would not ordinarily have been made or granted or which would not ordinarily have been admissible under the rules or authorisation of the Corporation, or of any provident or other fund in force prior to the appointed day, shall have effect or be payable or claimable from the Reconstruction Bank or from any provident or other fund or from an authority administering such fund, unless the Central Government has, by general or special order, confirmed the appointment, promotion or increment or has directed the continued grant of such allowance or other benefit, as the case may be. (5) Notwithstanding anything contained in the Industrial Disputes Act, 1947, or in any other law for the time being in force, the transfer of the services of any officer or other employee of the Corporation to the Reconstruction Bank shall not entitle such officer or other employee to any.....
View Complete Act List Judgments citing this sectionState Bank of India Subsidiary Banks Act, 1959 Chapter V
Title: Management of Subsidiary Banks
State: Central
Year: 1959
.....things as may be exercised or done by that bank. (3) The Board of Directors of a subsidiary bank shall, in discharging its functions under this Act, act on business principles, regard being had to public interest. ________________________ 1. Substituted fur the words "general manager" by the State Bank Laws (Amendment) Act, 1973(48 of 1973), Section 21 w.e.f. 1-7-1974. Section 25 - Composition Of The Board Of Directors (1) Subject to the provisions of sub-section (2) the Board of Directors of a subsidiary bank shall consist of the following:-- 4[(a) the Chairman for the time being of the State Bank, ex officio or an official of the State Bank or of the subsidiary bank nominated by him as Chairman, with the approval of the Reserve Bank;] 1[(aa) the managing director appointed under sub-section (1) of section 29 or under section 32;] 5(b) one director, possessing necessary expertise and experience in the matters relating to regulation or supervision of commercial banks, to be nominated by the Reserve Bank; (c) not more than five directors to be nominated by the State Bank of whom not more than three shall be officers of that bank: 2Provided that any.....
View Complete Act List Judgments citing this sectionSmall Industries Developement Bank of India Act, 1989 Chapter IV
Title: Business of the Small Industries Bank
State: Central
Year: 1989
.....and promissory notes made, drawn, accepted or endorsed by industrial concerns in the small-scale sector or by any person selling products manufactured by an industrial concern in the small-scale sector; (iii) subscribing to, or purchasing stocks, shares bonds or debentures of, any State Financial Corporation, State Industrial Development Corporation, State Small Industries Corporation, National Small Industries Corporation or 2 [such other financial institutions as may be approved by the Board in this behalf]; (iv) granting lines of credit or loans and advances to any State Financial Corporation, State Industrial Development Corporation, State Small Industries Corporation, National Small Industries Corporation or 2 [such other financial institutions as may be approved by the Board in this behalf|; (v) granting loans and advances to any industrial concern in the small-scale sector or subscribing to, or purchasing, or under-writing the issue of stocks, shares, bonds or debentures of, any such concern: Provided that nothing contained in this clause shall be deemed to preclude the Small Industries Bank from granting loans or advances to, or subscribing to the.....
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