- guaranteeing [* * *] [ Certain words omitted by Act 2 of 1982, Section 12 (w.e.f. 12.3.1982).]-
- [ guaranteeing deferred payments due from any industrial concern;] [ Substituted by Act 2 of 1982, Section 12 (w.e.f. 12.3.1982).]
- guaranteeing [* * *] [ Certain words omitted by Act 50 of 1986, Section 14 (w.e.f. 2.2.1987).] loans raised from, or credit arrangements made with, any banks or financial institution in any country outside India by industrial concerns in foreign currency:
- underwriting the issue of stock, shares, bonds or debentures by industrial concerns [and retaining as part of its assets, any stocks, shares, bonds or debentures which it may have to take up in fulfilment of its obligations thereto] [ Inserted by Act 50 of 1986, Section 14 (w.e.f. 2.2.1987).];
- acting as agent for the Central Government or, with its approval, for the International Bank for Reconstruction and Development [or any other international or national institution or organisation] [ Inserted by Act 50 of 1986, Section 14 (w.e.f. 2.2.1987).] in the transaction of any business with an industrial concern in respect of loans or advances granted, [or stocks, shares, bonds or debentures subscribed, by any of them or on their behalf] [ Substituted by Act 50 of 1986, Section 14, for certain words (w.e.f. 2.2.1987).];
- [ subscribing to, or purchasing, the stock, shares or bonds of any industrial concern;] [ Substituted by Act 2 of 1982, Section 12, for Cl. (f) (w.e.f. 12.3.1982).]
- receiving in consideration of the services mentioned in clauses (a) to ( f ), such commission as may be agreed upon;
- granting loans or advances to, [or subscribing to, or purchasing, debentures of industrial concerns:] [ Substituted by Act 2 of 1982, Section 12, for certain words (w.e.f. 12.3.1982).]
- [ undertaking research and surveys for evaluating or dealing with marketing or investments and undertaking and carrying on techno-economic studies in connection with the development of industry;] [ Inserted by Act 2 of 1982, Section 12 (w.e.f. 12.3.1982).]
- providing technical [, legal, marketing] [ Inserted by Act 50 of 1986, Section 14 (w.e.f. 2.2.1987).] and administrative assistance to any industrial concern for the promotion, management or expansion of any industry;
- [ providing consultancy and merchant banking services in and outside India; [ Substituted by Act 50 of 1986, Section 14, for Cl. (m)(w.e.f. 2.2.1987).]
- performing functions entrusted to, or required of, the Corporation by this Act or by any other law for the time being in force;]
- [] [ Relettered by Act 2 of 1982, Section 12 (w.e.f. 12.3.1982).] generally, the doing of all such matters and things as may be incidental to or consequential upon the exercise of its powers or the discharge of its duties under this Act, [or under any other law for the time being in force] [ Inserted by Act 2 of 1982, Section 12 (w.e.f. 12.3.1982).];
Chapter I — Full Text
Section 23
Business which the Corporation may transact .- [[*] [The Corporation shall, subject to the provisions of this Act, be authorised to carry on and transact the following kinds of business, namely:-] [ Substituted by Act 66 of 1960, Section 5, for sub-S. (1).]
Printed from Law on Tips • The Industrial Finance Corporation of India Act, 1948