Industrial Reconstruction Bank of India Act : Disposal of profits accruing to General Fund. Indian Bare

Industrial Reconstruction Bank of India Act,1984

Act No : 62

Section : Disposal of profits accruing to General Fund.

33. Disposal of profits accruing to General Fund.- (1) The Reconstruction Bank may establish a reserve fund to which may be transferred such sums as that Bank may deem fit out of the annual profits accruing to the General Fund. (2) After making provision for bad and doubtful debts, depreciation of assets and for all other matters for which provision is necessary or expedient or which is usually provided for by bankers and for the reserve fund referred to in sub-section (1), the Reconstruction Bank shall transfer the balance of the net profits to the Central Government.