Tuesday, 8 September 2026

Law on Tips(LOTS)India's Premier Legal News

⌘K

Home
The Bar Room
The Gazette
The Library
Legal League
Columns
Interviews

⚖

Loading…

Law on Tips.

A free Indian legal platform. Bringing you the latest judgments, legislative updates, and in-depth legal analysis from the Supreme Court, High Courts, and Tribunals.

© 2026 Law on Tips Media Pvt Ltd.

Explore

The Bar Room
The Gazette
The Library
Compare Acts
Legal League
Columns

Trust & Standards

About Us
Editorial Policy
Fact-Checking
Corrections
Methodology
Ownership
Masthead
Privacy Policy
Terms of Use
Contact

Subscribe

Get the latest legal news delivered to your inbox daily.

Bar News Acts League

Table of Contents

The Industrial Finance Corporation of India Act, 1948

Chapter I — Full Text

Section 31

Penalties

Penalties.

Related Sections

Special provisions for enforcement of claims by the Corporation .-(1) [Where an industrial concern, in breach of any agreement, makes any default in repayment of any loan or advance or any instalment thereof ] [or in meeting its obligations in relation to the guarantee given by the Corporation] [ Inserted by Act 74 of 1972, Section 17.][or otherwise fails to comply with the terms of its agreement with the Corporation or where the Corporation requires an industrial concern to make immediate repayment of any loan or advance under section 29 and the industrial concern fails to make such repayment, then, without prejudice to the provisions ] [Substituted by Act 78 of 1952, Section 19, for certain words. ] [of section 28 of this Act and] [ Inserted by Act 28 of 1955, Section 20 (w.e.f. 18.9.1955).][of section 69 of the Transfer of Property Act, 1882 (4 of 1882),] [Substituted by Act 78 of 1952, Section 19, for certain words. ] any officer of the Corporation generally or especially authorised by the Board in this behalf may apply to [the Court] [ Substituted by Act 74 of 1972, Section 17, for " District Judge" .] for one or more of the following reliefs, namely:

Disposal of profits .-(1) The Corporation shall establish a reserve fund

Short title, extent and commencement .-(1) This Act may be called the Industrial Finance Corporation Act, 1948

Interpretation .-In this Act, unless there is anything repugnant in the subject or context,

Establishment and incorporation of Corporation .-(1) A Corporation to be called the Industrial Finance Corporation of India shall be established for the purposes of this Act

Share capital and share-holders .-(1) The authorised capital of the Corporation shall be ten crores of rupees divided into twenty thousand fully paid-up shares of five thousand rupees each of which ten thousand shares of the total value of five crores of rupees shall be issued in the first instance, and the remaining shares may be issued with the sanction of the Central Government from time to time as and when the Corporation may deem fit

Judgments linked to Section 31

Printed from Law on Tips • The Industrial Finance Corporation of India Act, 1948

PreviousSection 30

Table of Contents

The Industrial Finance Corporation of India Act, 1948

Chapter I — Full Text

Section 31

Penalties

Penalties.

Related Sections

Special provisions for enforcement of claims by the Corporation .-(1) [Where an industrial concern, in breach of any agreement, makes any default in repayment of any loan or advance or any instalment thereof ] [or in meeting its obligations in relation to the guarantee given by the Corporation] [ Inserted by Act 74 of 1972, Section 17.][or otherwise fails to comply with the terms of its agreement with the Corporation or where the Corporation requires an industrial concern to make immediate repayment of any loan or advance under section 29 and the industrial concern fails to make such repayment, then, without prejudice to the provisions ] [Substituted by Act 78 of 1952, Section 19, for certain words. ] [of section 28 of this Act and] [ Inserted by Act 28 of 1955, Section 20 (w.e.f. 18.9.1955).][of section 69 of the Transfer of Property Act, 1882 (4 of 1882),] [Substituted by Act 78 of 1952, Section 19, for certain words. ] any officer of the Corporation generally or especially authorised by the Board in this behalf may apply to [the Court] [ Substituted by Act 74 of 1972, Section 17, for " District Judge" .] for one or more of the following reliefs, namely:

Disposal of profits .-(1) The Corporation shall establish a reserve fund

Short title, extent and commencement .-(1) This Act may be called the Industrial Finance Corporation Act, 1948

Interpretation .-In this Act, unless there is anything repugnant in the subject or context,

Establishment and incorporation of Corporation .-(1) A Corporation to be called the Industrial Finance Corporation of India shall be established for the purposes of this Act

Share capital and share-holders .-(1) The authorised capital of the Corporation shall be ten crores of rupees divided into twenty thousand fully paid-up shares of five thousand rupees each of which ten thousand shares of the total value of five crores of rupees shall be issued in the first instance, and the remaining shares may be issued with the sanction of the Central Government from time to time as and when the Corporation may deem fit

Judgments linked to Section 31

Printed from Law on Tips • The Industrial Finance Corporation of India Act, 1948

PreviousSection 30