TY - BOOK ED - Universal Law Publishing TI - The Small Industries Development Bank of India Act,1889 (Bare Act) U1 - 343.54 PY - 2010/// CY - New Delhi PB - Universal Law Publishing KW - Bare Act N1 - THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA ACT, 1989 Introduction CHAPTER I PRELIMINARY Sectioiis 1. Short title, extent and commencement 2. Definitions CHAPTER 11 ESTABLISHMENT OF THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA AND CAPITAL THEREOF 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 CHAPTER III MANAGEMENT OF THE SMALL INDUSTRIES BANK 5. Management 6. Constitution of Board 7. [Repealed] 8. Disqualifications of Directors 9. Vacation and resignation of office by/Directors 10. [Repealed] 11. [Repealed] 12. Executive Committee and other Committees . ; 12A. Fees and allowances of Directors and Members of Committees CHAPTER IV BUSINESS OF THE SMALL INDUSTRIES BANK 13. Business of Small Industries Bank 14. Loans by Central Govenunent 15. Borrowings and acceptance of deposits by the Small Industries Bank 16. Investment 17. Power to transfer rights , 18. Power to acquire rights . ^ 19. Loans in foreign currency . ^ 20. Grants, donations, etc., to the Small Industries Bank CHAPTER IVA SHARES 20A. Free transferability of shares 20B. Register of shareholders 20C. TniSt not to be entered on the register of shareholders 20D. Board's right to refuse registration of transfer of shares 20E. Shares to be securities under the Indian Trusts Act, 1882 CHAPTER IVB MEETINGS AND PROCEEDINGS 20F. Annual general meeting 20G. Matters to be discussed and procedure in annual general meeting CHAPTER V -SMALL INDUSTRIES DEVELOPMENT ASSISTANCE FUND 21. Small Industries Development Assistance Fund 22. Credits to Small Industries Development Assistance Fund 23. Utilisation of Small Industries Development Assistance Fund 24. Debits to Small Industries Development Assistance Fund 25. Accounts and audit of Small Industries Development Assistance Fund 26. Liquidation of Small Industries Development Assistance Fund CHAPTER VI SMALL INDUSTRIES GENERAL FUND, ACCOUNTS AND AUDIT 27. Small Industries General Fund 28. Preparation of accoimts and balance-sheet 29. Disposal of profits accruing to Small Industries General Fund 30. Audit 31. Saving CHAPTER VII TRANSFER OF PART OF BUSINESS OF DEVELOPMENT BANK 32. Transfer of part of business of Development Bank CHAPTER VIII MISCELLANEOUS 33. Staff of Small Industries Bank 34. Delegation of po^vers 35. Returns 36. Obligations as to fidelity and secrecy 37. Defects in appointment not to invalidate acts etc 37A. Amounts and securities to be held in trust 38. Rights of Small Industries Bank in case of default 39. Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate^ 40. Power to call for repayment before agreed period 41. Special provisions for enforcement of claims by Small Industries Bank 42. Small Industries Bank to have access to records Sections 43. Validity of loan or advance not to be questioned 44. Indemnity of Directors 45. Protection of action taken under this Act 46. Nomination by depositors or holders of bonds or other securities 47. Arrangement with Small Industries Bank on appointment of Directors to prevail 48. Act 18 of 1891 to apply in relation to Small Industries Bank 49. Act 10 of 1949 not to apply to Small Industries Bank 50. [Repealed] 51. Liquidation of Small Industries Bank 51A. Power to make rules by Central Government 52. Power to make regulations 53. Amendment of certain enactments 54. Power to remove difficulties THE FIRST SCHEDULE.—Declaration of fidelity and secrecy THE SECOND SCHEDULE.—Amendment of certain enactments 36 THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (GENERAL REGULATIONS), 2000 Regulations CHAPTER I PRELIMINARY 1. Short title and commencement 2. Definitiotrs CHAPTER II MEETINGS OF BOARD AND EXECUTIVE COMMITTEE Meetings of the Board Powers of the Executive Committee Meetings of the Executive Committee No director or member to deal with matters with which he is personally concemed Ad-hoc committees CHAPTER III FEES AND ALLOWANCES OF DIRECTORS Fees and allowances of directors and members of the Executive Committee and other corrunittees CHAPTER IV CONTRACTS, COMMON SEAL AND ACCOUNTS Manner and form in which contracts binding on the Small Industries Bank may be executed Accounts, receipts and documents of the Small Industries Bank by whom to be signed 0 Plaints, etc., by whom to be signed Issue of debentures 13. Common seal 14. Balance-sheet and profit and loss account CHAPTER V NOMINATION FOR DEPOSITS AND SECURITIES 15. Payment on the death of the holder of a security 16. Manner in which nomination may be made and discharge on payment CHAPTER VI SHARES AND SHARE REGISTER 17. Share to be movable property 18. Control over shares and registers 19. Parties who may not be registered as shareholders 20. Particulars to be entered in the register 21. Exercise of rights of joint holders 22. Inspection of the register 23. Closing of the register 24. Share certificates 25. Issue of share certificate 26. Renewal of share certificates 27. Transfer of shares 28. Power to suspend transfers 29. Transmission of shares in the event of death, insolvency, etc. of a shareholder 30. Calls on shares 31. Calls to date from resolution 32. Notice of call 33. Extension of time for payment of call 34. Liabilities of joint holders 35. Amoimt payable at fixed time or by instalments as calls 36. When interest on call or instalment payable 37. Non-payment of calls by shareholder 38. If call or instalment not paid, notice must be given 39. Form of notice 40. In default of payment, shares to be forfeited 41. Entry of forfeiture in the register 42. Forfeited shares to be property of the Small Industries Bank and may be sold 43. Power to annul forfeiture 44. Shareholder liable to pay money owing at the time of forfeiture and interest 45. Partial payment not to preclude forfeiture 46. Application of forfeiture provisions 47. Small Industries Baftk's lien on shares 48. Eirforcing lien by sale of share 49. Application of proceeds of sale of shares 50. Certificate of forfeiture Reguli 51. Title of purchaser and allottee of forfeited share 52. Service of a notice or document to shareholders CHAPTER VII MEETINGS OF SHAREHOLDERS 53. Notice convening a general meeting 54. Extraordinary general meeting 55. Business at general meetings 56. Quonun of general meetings 57. Chairman at general meetings 58. Persons entitled to attend general meetings i 59. Voting at general meetings 60. Minutes of general meetings ; CHAPTER VIII VOTING RIGHTS OF SHAREHOLDERS 61. Determination of voting rights 62. Voting by duly authorised representative 63. Proxies CHAPTER IX ELECTION OF DIRECTORS 64. Nomination of directors 65. 66. Nomination of candidates for election 67. Scrutiny of nominations 68. Election disputes 69. Removal of director 70. Retirement of directors co-opted SCHEDULE I.—General Fimd—Balance-sheet SCHEDULE 11.—General Fund—Profit and Loss Account SCHEDULE III.—^Small Industries Development Assistance Fund—Balance-sheet SCHEDULE rv.—Small Industries Development Assistance Frmd—Profit and Loss Account SCHEDULE v.— FORM I—^Form of Nomination/Substitution of Nomination FORM II—Form of Cancellation of Nomination SCHEDULE VI.— FORM A—Share Transfer Form FORM B—Form of Proxy THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (APPEAL TO THE CENTERAL GOVERNMENT) RULES, 2003 Rules 1. Short title and commencement 2. Definitions 3. Form of Appeal 4. Time within which appeal is to be preferred 5. Payment of fees 6. Contents of appeal 7. Right to representation 8. Procedure for filing appeal 9. Furnishing of information or documents 10. Date and place of hearing of appeal to be communicated 11. Hearing of appeal 12. Orders by the Central Government FORM—Small Industries Development Bank of India— Form of Appeal ER -