Examples of SIDBI Act in a sentence
Ministry’s further Comments (13.06.05):- SIDBI was created out of IDBI w.e.f. April 02, 1990 as per SIDBI Act, 1989.
SIDBI Act provides that at any point of time, these public institutions shall continue to hold 51%of the organisation.
SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA (SIDBI) SIDBI was set up in 1990 under the SIDBI Act 1990.
The Additional Event of Suspension consists of the following, namely, that the SIDBI Act has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of SIDBI to perform any of its obligations under this Agreement.
Small Industries Development Bank Of India , a corporation established under the Small Industries Development Bank of India (SIDBI) Act, 1989 and having its Head Office at ‘SIDBI Tower’ , 00 Xxxxx Xxxx, Xxxxxxx - 000000 and a Branch Office at First floor, A/1, Shiv Xxxxxx Xxxxxxx, Xxx.
The functions of SIDBI include (i) granting loans and advances to co-operative banks and other financial institutions by way of refinance, and (ii) directly financing small scale units for new/expansion/diversification/modernisation projects and marketing development projects which expand the domestic and international marketability of small scale units products.58 7-23 Under the SIDBI Act, a Small Industries Development Assistance Fund and Small Industries General Fund have been established.
SIDBI Act provides that at any point of time, the equity shares held in aggregate by the PSBs, insurance companies and other institutions owned or controlled by Govt.
The Annual Audit report would consist of (i) annual audited project financial statements (ii) audit opinion and (iii) management letter highlighting weaknesses, if any and ifentifying areas for improrevment.SIDBISIDBI’s statutory auditor is appointed at the Annual General Meeting (AGM) of its shareholders under Section 30(1) of the SIDBI Act 1989 (as amended in 2000).
In 2007, he used doctors in North Carolina, Massachusetts, and Florida.
However, neither IDBI had nor SIDBI has any statutory powers either under their own statute (i.e., IDBI Act or SIDBI Act) or under the SFCs Act, 1951 for issuing any instructions / directions to the SFCs. The powers for giving directions to the SFCs in the matters of policy are vested exclusively in the respective State Governments under the provisions of Section 39 of the SFCs Act, to be exercised in consultation with and after obtaining the advice of SIDBI (of IDBI, earlier).