Small Industries Development Bank of India Act,1989
Act No : 39
Section : DEFINITIONS
SECTION 02: DEFINITIONS
-In this Act, unless the context otherwise requires,-
(a) "Board" means the Board of Directors of the Small Industries Development Bank of India referred to in Section 5-;
(b)2""Chairman and Managing Director" means the Chairman and Managing Director" referred to in clause (a) of sub-section (1) of Section 6-;
(c) "Court" means the High Court within the local limits of whose jurisdiction,-
(i) the defendant or respondent or, where there is more than one defendant or respondent, any one of them-
(1) has his registered office, or
(2) carries on the whole or part of his business, at the time of commencement of any legal proceedings against him under this Act, or
(ii) the cause of action for such legal proceedings, wholly or in part, arises;
(d) "Development Bank" means the Industries Development Bank of India established under Section 3 of the Industries Development Bank of India Act, 1964 (18 of 1964)-;
(e) "Director" means a Director nominated under sub-section (1) of Section 6-and includes the "Chairman and Managing Director and whole time director";
(f) "export" means export from India of products or services of any industrial concern in small-scale sector ;
2(fa) "General Insurance Corporation" means the General Insurance Corporation of India formed under Sec. 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)"
(g) "import" means import into India of services or goods including all materials, commodities and articles in a solid, liquid or gaseous state and all forms of energy for the use of any industrial concern in the small-scale sector ;
(h) "industrial concern in the small-scale sector" means an industrial concern as defined in clause (c) ofSection 2 of the Industrial Development Bank of India Act, 1964 (18 of 1964)-, and which is regarded as a small-scale undertaking under Section 11B of the Industries (Development and Regulation) Act, 1951 (65 of 1951)-;
3"(ha) "Life Insurance Corporation" means the Life Insurance Corporation of India established under Sec. 3 of the Life Insurance Corporation Act, 1956(31 of 1956);"
(i)4
(j) "National Small Industries Corporation" means the National Small Industries Corporation Limited registered under the Companies Act, 1956 (1 of 1956)-;
(k) "notification" means a notification published in the Official Gazette ;
(l) "prescribed" means prescribed by regulations made under this Act;
3"(la) "public sector bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) a corresponding new bank constituted under Sec. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or under Sec. 3 of the Baking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980);"
(m) "Small Industries Bank" means the Small Industries Development Bank of India established under subsection
(1) of Section 3-;
(n) "State Small Industries Corporation" means a State Corporation, registered under the Companies Act, 1956 (1 of 1956)-, for small industries in a State ;
(o) "State Financial Corporation" means a financial corporation established under Section 3-orSection 3Aor an institution, notified under Section 46 of the State Financial Corporations Act, 1951 (63 of 1951)-;
(p) "State Industrial Development Corporation" means a State Corporation registered under the Companies Act, 1956 (1 of 1956)-; for the development of industries in a State ;
(q) words and expressions used herein and not defined but defined in the Industrial Development Bank of India Act, 1964 (18 of 1964), shall have the meanings respectively assigned to them in that Act.
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