Title : Accounts
State : Central
Year : 1968
(1) The balance-sheet and accounts including the profit and loss account of the Corporation shall be prepared and maintained in such form and manner as maybe prescribed. (2) The Board shall cause the books and accounts of the Corporation to be balanced and closed on the thirtieth day of June each year. View Complete Act List Judgments citing this sectionTitle : State Agricultural Credit Corporations Act, 1968
State : Central
Year : 1968
Preamble1 - STATE AGRICULTURAL CREDIT CORPORATIONS ACT, 1968 Chapter 1 Section1 - Short title and commencement Section2 - Definitions Chapter 2 Section3 - Establishment of State Agricultural Credit Corporation Section4 - Head office and other offices Section5 - Share capital and share holders Section6 - Restrictions on transfer of shares Chapter 3 Section7 - Management Section8 - Corporation to be guided by directions of Central Government Section9 - Constitution of Board Section10 - Managing director Section11 - Term of office of directors other than managing director Section12 - Disqualifications Section13 - Vacation of seats of directors Section14 - Executive Committee and other committees of the corporation Section15 - Meetings of Board and committees Section16 -..... List Judgments citing this sectionTitle : Reserve Bank to Submit Report
State : Central
Year : 1968
The Reserve Bank shall, on the expiry of a period of three years, from the date of established of the Agricultural Credit Corporation in a State or Union territory and thereafter at an interval of three years and within such time as the Central Government may specify, submit a report to that Government as to the working of the Corporation and forward a copy thereof to the State Government concerned. View Complete Act List Judgments citing this sectionTitle : Business Which the Corporation May Transact
State : Central
Year : 1968
Subject to the provisions of this Act, the Corporation may transact the following kinds of business, namely:- (a) the granting of loans and advances, repayable within a period, not exceeding five years, to agriculturists, agricultural marketing societies, agricultural processing societies, Central Co- operative Banks, co- operative farming societies or primary agricultural credit societies for agricultural operations or for such other operations connected therewith as the Board may by regulations determine; (b) the drawing, making , accepting, discounting, buying, selling , collecting and dallying in bills of exchange , hundies, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, debentures, certificates, scripts and other instruments, and securities..... View Complete Act List Judgments citing this sectionTitle : Corporation to Maintain Two Funds
State : Central
Year : 1968
The Corporation shall establish two separate funds , namely:- (a) Agricultural Credit ( Stabilisation ) Fund ( hereinafter referred to as Stabilisation Funds ), and (b) Reserve Fund. View Complete Act List Judgments citing this sectionTitle : Stabilisation Fund
State : Central
Year : 1968
(1) To the Stabilisation Fund shall be credited such sum, not being less than ten and not more than fifteen percent, as the Corporation may deem fit from out of its net annual profits before declaring a dividend. (2) Subject to such conditions as may be specified by the Board by regulations, the amount lying to the credit of the Stabilisation Fund shall be utilised solely for the purpose of making loans or advances with a view to enabling any co- operative society or other person to pay its or his dues in case where, in the opinion of the Corporation, such society or other person is unable to pay such dues in time owing to drought, famine or other natural calamities. View Complete Act List Judgments citing this sectionTitle : Reserve Fund
State : Central
Year : 1968
(1) To the Reserve Fund shall be credited such sums not being more than fifteen percent as the Corporation may deem fit out of its not annual profits before declaring a dividend. (2) The amounts lying to the credit of the Reserve Fund shall be utilized solely for such purposes as the Board may by regulations specify. View Complete Act List Judgments citing this sectionTitle : Establishment of State Agricultural Credit Corporation
State : Central
Year : 1968
(1) The appropriate Government may, by notification in the Official Gazette, establish in any State or Union territory an Agricultural Credit Corporation under such name as may be specified in the notification; Provided that no such Corporation shall be established in any State or Union territory other than the States of Assam, Bihar, Orissa, Rajasthan and West Bengal and the Union territories of Manipur and Tripura, except with the previous approval of the Central Government and no such approval shall be given by the Central Government except after consultation with the Reserve Bank. (2) The Corporation established under this Act shall be a body corporate by the name specified in the notification referred to in sub-section (1), having perpetual succession and a common seal with..... View Complete Act List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 1968
(1) This Act may be called the State Agricultural Credit Corporations Act, 1968 (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different States or for different Union territories. View Complete Act List Judgments citing this sectionTitle : Definitions
State : Central
Year : 1968
In this Act, unless the context otherwise requires,- (a) "agricultural marketing society" means a co-operative society the objects of which include the marketing of agriculture produce; (b) "agricultural operation" includes animal husbandry, dairy farming, pisciculture and poultry farming. Explanation;- The expression "pisciculture" includes the development of fisheries, both inland and marine, catching of fish and all activities connected therewith or incidental thereto; (c) "agricultural processing society" means a co-operative society the objects of which include the processing of agricultural produce; (d) "agricultural produce" includes the produce of an agricultural operation; (e) "appropriate Government" means;- (i) in relation to any Corporation established in a..... View Complete Act List Judgments citing this section