Bare Act Search Results

Recovery of Debts Due to Banks and Financial Institutions Act, 1993 Complete Act

State: Central

Year: 1993

RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993 RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993 51 of 1993 An Act to provide for the establishment of Tribunals for expeditious, adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-fourth Year of the Republic of India as follows :- CHAPTER 01: PRELIMINARY SECTION 01: SHORT TITLE, EXTENT, COMMENCEMENT AND APPLICATION (1) This Act may be called the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall be deemed to have come into force on the 24th day of June, 1993. (4) The provisions of this Act shall not apply where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than ten lakh rupees or such other amount, being not less than one lakh rupees, as the Central Government may, by notification, specify. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires,- (a).....

Company Secretaries Act, 1980 Complete Act

State: Central

Year: 1980

.....(Regulation) Act, 1956 (42 of 1956), any of the rules or bye-laws made by a recognised stock exchange, the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969), the Foreign Exchange Regulation Act, 1973 (46 of 1973), or under any other law for the time being in force, (vii) issuing certificates on behalf of, or for the purposes of, a company; or (d) holds himself out to the public as a company secretary in practice; or (e) renders professional services or assistance with respect to matters of principle or detail relating to the practice of the profession of Company Secretaries; or (f) renders such other services as, in the opinion of the Council, are or may be rendered by a Company Secretary in practice; and the words "to be in practice", with their grammatical variations and cognate expressions, shall be construed accordingly. SECTION 03: INCORPORATION OF THE INSTITUTE (1) All persons whose names are entered in the register of the dissolved company immediately before the commencement of this Act and all persons who may hereafter have their names entered in the register to be maintained under this Act, so long as they continue to have their names borne on.....

State Bank of India Subsidiary Banks Act, 1959 Section 7

Title: Issued Capital of New Banks

State: Central

Year: 1959

.....A new bank may accept the money in respect of shares issued towards increase in issued capital in instalments, make calls and forfeit unpaid shares and re-issue them, in the manner as may be prescribed.] ____________________________ 1. Inserted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007). 2. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(4) Without prejudice to the provision contained in sub-section (3) a new bank may, with the approval of the State Bank and the Reserve Bank, increase from time to time, its issued capital and the capital so increased shall consist of fully paid-up shares to be issued in such manner as the State Bank may, with the approval of the Reserve Bank, direct. (5) No increase or reduction in the issued capital of a new bank shall be made in such a manner that the State Bank holds at any time less than fifty-five per cent of the issued capital of that bank"

State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Chapter II

Title: Amendments to the State Bank of Saurashtra Act, 1950

State: Central

Year: 2007

.....may, with the approval of the Reserve Bank, authorise the Saurashtra Bank to increase or reduce its authorised capital.". Section 3 - Amendment of section 6 In section 6 of the State Bank of Saurashtra Act,-- (a) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) Notwithstanding anything contained in sub-section (1), the issued capital of the Saurashtra Bank, shall consist of such amount as the State Bank may, with the approval of the Reserve Bank, fix, and, shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 5."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Saurashtra Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Saurashtra Bank shall consist of equity shares.....

State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Chapter III

Title: Amendmentsto the State Bank of Hyderabad Act, 1956

State: Central

Year: 2007

.....Bank may, with the approval of the Reserve Bank, fix, and shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 9."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Hyderabad Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Hyderabad Bank shall consist of equity shares or equity and preference shares: Provided that the issue of preference shares shall be in accordance with the guidelines framed by the Reserve Bank specifying the class of preference shares, the extent of issue of each class of such preference shares (whether perpetual or irredeemable or redeemable) and the terms and conditions subject to which, each class of preference shares may be issued. (3B) The Hyderabad Bank may, with the.....

National Bank for Agriculture and Rural Development Act, 1981 Section 50

Title: Staff of National Bank

State: Central

Year: 1981

.....so applying, the availability of vacancies in the National Bank, the exigencies of service in the Reserve Bank and the National Bank and such other factors as may be considered relevant in this regard, and, if the Reserve Bank is satisfied having regard to these factors, that such applicant is suitable for being so appointed recommend his appointment to the National Bank. (c) The National Bank may thereupon, within eighteen months from the appointed day, appoint such a person applying under this sub-section as a member of the staff of the National Bank and on such appointment, such a person shall be deemed to have been appointed in the National Bank under sub-section (3): Provided that the proviso to sub-section (3) and the proviso to sub-section (3) and the proviso to sub-section (5) shall not apply in respect of such person. (5) Notwithstanding anything contained elsewhere in this Act or in any other law or in any contract for the time being in force at any time before the expiry of six months from the appointed day the Reserve Bank may if it considers it necessary in consultation with the National Bank so to do in the interest of the National Bank , transfer on.....

State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 Chapter III

Title: Amendments to the State Bank of India (Subsidiary Banks) Act, 1959

State: Central

Year: 2009

..... (iii) in clause (k), the words "and the Saurashtra Bank" shall be omitted. Section 4 - Amendment of section 14 In the Subsidiary Banks Act, in section 14,-- (i) in the marginal heading, the words", the Saurashtra Bank" shall be omitted; (ii) in sub-section (1), the words ", the State Government of Gujarat in respect of the Saurashtra Bank" shall be omitted; (iii) in sub-section (2) and in the proviso, the words", the State Government of Gujarat," and "or the State Government of Gujarat" shall, respectively, be omitted; (iv) in sub-section (3), the words ", the State Government of Gujarat" shall be omitted; (v) in sub-section (4), the words", the State Government of Gujarat" shall be omitted. Section 5 - Amendment of section 23 In the Subsidiary Banks Act, in section 23,-- (i) for the words ", the Hyderabad Bank and the Saurashtra Bank", the words "and the Hyderabad Bank" shall be substituted; (ii) for the words, "the Hyderabad Bank or the Saurashtra Bank", the words "or the Hyderabad Bank" shall be substituted. Section 6 - Amendment of section 42 In the Subsidiary Banks Act, in section 42, for the words ", the Hyderabad Bank or the Saurashtra.....

Reserve Bank of India Act, 1934 (2 of 1934) Section 58G

Title: Power of Bank to Impose Fine

State: Central

Year: 1934

.....not exceeding five thousand rupees; or (b) where the contravention or default is under sub-section (4A) or clause (a) or clause (aa) of sub-section (5) of section 58B, a penalty of five lakh rupees or twice the amount involved in such contravention or default, where the amount is quantifiable, whichever is more; and where such contravention or default is a continuing one, further penalty which may extend to twenty-five thousand rupees for every day, after the first, during which the contravention or default continues. (2) For the purpose of imposing penalty under sub-section (1), the Bank shall serve a notice on the non-banking financial company requiring it to show cause why the amount specified in the notice should not be imposed as a penalty and a reasonable opportunity of being heard shall also be given to such non-banking financial company. (3) Any penalty imposed by the Bank under this section shall be payable within a period of thirty days from the date on which notice issued by the Bank demanding payment of the sum is served on the non-banking financial company and, in the event of failure of the non-banking financial company to pay the sum within such.....

National Housing Bank Act, 1987 Complete Act

Title: National Housing Bank Act, 1987

State: Central

Year: 1987

.....commencement Section2 - Definitions Chapter II Section3 - Establishment and incorporation of National Housing Bank Section4 - Capital Chapter II Section5 - Management Section6 - Board of Directors Section7 - Terms of office of Chairman, Managing Director and other directors, service conditions, etc. Section8 - Disqualifications Section9 - Vacation and resignation of office by directors Section10 - Casual vacancy in the office of Chairman or Managing Director Section11 - Meetings of Board Section12 - Executive Committee and other committees Section13 - Director of Board or member of committee thereof not to participate in meetings in certain cases Chapter III Section14 - Business of the National Housing Bank Section15 - Borrowings and acceptance of deposits by National Housing Bank Section16 - Loans in foreign currency Section16A - Assistance to borrower when to operate or a charge in the property offered as security Section16B - Amount and security to be held in trust Section17 - Power to transfer rights Section18 - Power to acquire rights Section18A - Exemption from registration Section18B - Recovery of dues as arrears of land revenue Section19 - Power to.....

Industrial Development Bank of India Act, 1964 [Repealed] Section 26

Title: Staff of Development Bank

State: Central

Year: 1964

.....every member of the staff aforesaid may, before the expiry of a period ofeighteen months from the appointed day or the date notified under section 4A ofthe Unit Trust of India Act, 1963, whichever is earlier, elect to go back tothe institution from which he was so transferred by exercising an option inwriting to that effect, the option once exercised being final, and on theexercise of such option, that institution shall, before the expiration of aperiod of thirty months from the appointed day or the date notified undersection 4A of the Unit Trust of India Act, 1963, whichever is earlier, takeback such member of the staff and on such member being taken back by thatinstitution, he shall become a member of its staff and shall cease to be amember of the staff of the institution to which he was earlier transferred. (6)Notwithstanding anything contained in any other law or in any agreement, forthe time being in force, no member of the staff shall be entitled to claim anycompensation for, or in relation to any matter concerning his transfer,appointment, or as the case may be, return, under sub-sections (3) to (5) andno claim in respect thereof shall be entertained by any.....