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Section 4C: Issued capital.

The Small Industries Development Bank of India Act, 1989Central Act · Act 39 of 1989

[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.]

Where this provision sits

ActThe Small Industries Development Bank of India Act, 1989
Section4C
Marginal noteIssued capital.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 7 of 2000. . Subs. by Act 7 of 2000, s. 3, for sections 4 to 6 (w.e.f. 27-3-2000).

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