Industrial Reconstruction Bank of India Act : Establishment of the Reconstruction Bank. Indian Bare

Industrial Reconstruction Bank of India Act,1984

Act No : 62

Section : Establishment of the Reconstruction Bank.

3. Establishment of the Reconstruction Bank.-(1) With effect from such date 1* as the Central Government may, by notification in the Official Gazette, appoint, there shall be established, for the purposes of this Act, a corporation, to be known as the Industrial Reconstruction Bank of India. (2) The Reconstruction Bank shall be a body corporate with the name aforesaid, having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, and to contract, and may, by that name, sue and be sued. --------------------------------------------------------------------- 1. 20-3-1985: Vide Notifn. No. S.O. 197 (E), dt. 18-3-1985. 554 (3) The head office of the Reconstruction Bank shall be at Calcutta, and the Reconstruction Bank may establish offices, branches or agencies at any other place, whether in, or outside, India.