The net proceeds of any sale of shares under regulation 48 after deduction of costs of such sale, shall be applied in or towards the satisfaction of the debt or liability in respect whereof the lien exists so far as the same is presently payable and the residue, if any, paid to the shareholders or the person, if any, entitled by transmission to the shares so sold.
Section 49: Application of proceeds of sale of shares
Small Industries Development Bank of India (General) Regulations, 2000Central Regulations · 1989
Where this provision sits
| Act | Small Industries Development Bank of India (General) Regulations, 2000 |
|---|---|
| Section | 49 |
| Marginal note | Application of proceeds of sale of shares |
| Jurisdiction | Central |
| Status | In force as published by the source |
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