Lawgist4CIssued capital
1[4C. Issued capital.--(1) The issued capital, of the Small Industries Bank, of four hundred and fifty crores of rupees, immediately before the commencement of the Small Industries Development Bank of India (Amendment) Act, 2000, shall, on such commencement, stand divided into forty-five crores equity shares of rupees ten each.
(2) The Board may, from time to time, increase the issued equity share capital or redeemable preference share capital of the Small Industries Bank by allotment of shares to such persons and on such terms and conditions as the Board may determine:
Provided that no increase in the issued equity capital shall be made in such a manner that the Development Bank, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government, hold in aggregate at any time, less than fifty-one per cent. of the issued equity share capital of the Small Industries Bank.]
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1. Subs. by Act 7 of 2000, s. 3, for sections 4 to 6 (w.e.f. 27-3-2000).
- 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
