The Industrial Finance Corporation Act, 1948
3. Establishment and incorporation of Corporation.
- A Corporation to be called the Industrial Finance Corporation of India shall be established for the purposes of this Act.
- The Corporation shall be a body corporate by the name of the Industrial Finance Corporation of India, HAVING perpetual succession and a common seal, with power, subject to the provisions of this Act, to 2*[acquire, hold or dispose of] property, both movable and immovable, and shall by the said name sue and be sued.