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The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993

Central

An Act to provide for the transfer and vesting of the undertaking of the Industrial Finance Corporation of India to and in the Company to be formed and registered as a Company under the Companies Act, 1956, and for matters connected therewith or incidental thereto and also to repeal the Industrial Finance Corporation Act, 1948.

Act number
23 of 1993
Ministry
Ministry of Finance
Department
Department of Financial Services
Enacted
2 Apr 1993

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

12 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Undertaking of the Corporation to vest in the company.
  4. Section 4General effect of vesting of undertaking in the Company.
  5. Section 5Concession, etc., to be deemed to have been granted to the Company.
  6. Section 6Tax exemption or benefit to continue to have effect.
  7. Section 7Guarantee to be operative.
  8. Section 8Provisions in respect of officers and other employees of Corporation.
  9. Section 9Act 18 of 1891 to apply to the books of the Company.
  10. Section 10Shares, bonds and debentures to be deemed to be approved securities.
  11. Section 11Repeal and saving of Act 15 of 1948.
  12. Section 12Repeal and saving.