Lawgist3Establishment and incorporation of Small Industries Development Bank of India
(1) With effect from such date as the Central Government may, by notification, appoint, there shall be established, for the purposes of this Act, a corporation to be known as the Small Industries Development Bank of India.
(2) The Small Industries Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue or be sued.
(3) The head office of the Small Industries Bank shall be at Lucknow or at such other place as the Central Government may, by notification, specify.
(4) The Small Industries Bank shall establish offices, branches or agencies at any place in or outside India.
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- 3 Establishment and incorporation of Small Industries Development Bank of India
- 4 Authorised capital
- 4A Conversion of equity shares into redeemable preference shares
- 4B Transfer of capital
- 4C Issued capital
- 4D Reduction of share capital
- 4E Restriction on exercising of voting right
- 5 Management
- 6 Constitution of Board
- 7 [Omitted.]
- 8 Disqualification of directors
- 9 Vacation and resignation of office by directors
- 10 [Omitted.]
- 11 [Omitted.]
- 12 Executive Committee and other committees
- 12A Fees and allowances of directors and members of committees
