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The Industrial Development Bank (Transfer of Undertaking and Repeal) Act

An Act to provide for the transfer and vesting of the undertaking of the Industrial Development Bank of India to, and in, the Company to be formed and registered as a Company under the Companies Act, 1956 to carry on banking business and for matters connected therewith or incidental thereto and also to repeal the Industrial Development Bank of India Act, 1964.
2003
List of Chapters & Sections

  1. PRELIMINARY

  2. 1
     Short title and commencement
  3. 2
     Definitions

  • TRANSFER AND VESTING OF THE UNDERTAKING OF DEVELOPMENT BANK IN COMPANY

  • 3
     Undertaking of Development Bank to vest in Company
  • 4
     General effect of transfer and vesting of undertaking
  • 5
     Provisions in respect of officers and other employees of Development Bank

  • MISCELLANEOUS

  • 6
     Concession, etc., to be deemed to have been granted to Company
  • 7
     Tax exemption or benefit to continue to have effect
  • 8
     Guarantee to be operative
  • 9
     Shares, bonds and debentures to be deemed to be approved securities
  • 10
     Act to have overriding effect
  • 11
     Application of other laws not barred
  • 12
     Amendment to certain enactments
  • 13
     Substitution in Acts, rules, regulations or notifications by Company in place of Development Bank
  • 14
     Power to remove difficulties
  • 15
     Repeal and saving of Act 18 of 1964