AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Industrial Finance Corporation Act, 1948


35. Returns.

  1. The Corporation shall furnish a statement in the prescribed form of its assets and liabilities as at the close of business on the last Friday of each month, or if that day is a public holiday under the Negotiable Instruments Act 1881 (26 of 1881), as at the close of business on the preceding working day, to [the Development Bank]3* within ten days from the date to which the statement relates.

  2. The Corporation shall furnish in the prescribed form to the 4*[Development Bank] and to the Reserve Bank at least once in every year or as frequently as the 4*[Development Bank] or the Reserve Bank may require 5*[a statement showing the classification] of its loans and investments and of loans guaranteed by it and underwriting agreements entered into by it.

  3. The Corporation shall furnish to the Central Government, 6*[the Reserve Bank and the Development Bank] within 7*2*[five months] of the close of the financial year a statement in the prescribed form of its assets and liabilities as at the close of that year together with a profit and loss account for the year and a report of the working of the Corporation during the year, and copies of the said statement, account and report shall be published in the Official Gazette and shall be laid before 8*[Parliament].

  1. Subs. by Act 18 of 1964, s. 38 and Sch. II, for sub-section (6) (w.e.f. 1-8-1964).

  2. Ins. by Act 2 of 1982, s. 16 (w.e.f. 12.3.1982).

  3. Subs. by s. 17, ibid. (w.e.f. 12.3.1982).

  4. Subs. by Act 18 of 1964, s. 38 and Sch. II, for "Central Government" (w.e.f. 1-8-1964).

  5. Subs. by Act 78 of 1952, s. 25, for "a classification".

  6. Subs. by Act 18 of 1964, s. 38 and Sch. II, for "and the Reserve Bank" (w.e.f. 1-8-1964).

  7. Subs. by Act 43 of 1957, s. 14, for "three months".

  8. Subs. by the A. O. 1950, for "the Central Legislature".
     



Industrial Finance Corporation Act, 1948 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys