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Table of Contents

The Industrial Finance Corporation of India Act, 1948

Chapter I — Full Text

Section 7

Share capital

Share capital.

Related Sections

Management .-(1) The general superintendence and direction of the affairs and business of the Corporation shall be entrusted to a Board of Directors which [* * *] may exercise all powers and do all acts and things which may be exercised or done by the Corporation

Advisory Committee

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 7

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

PreviousSection 6

Table of Contents

The Industrial Finance Corporation of India Act, 1948

Chapter I — Full Text

Section 7

Share capital

Share capital.

Related Sections

Management .-(1) The general superintendence and direction of the affairs and business of the Corporation shall be entrusted to a Board of Directors which [* * *] may exercise all powers and do all acts and things which may be exercised or done by the Corporation

Advisory Committee

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 7

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

PreviousSection 6