I. Preliminary

1. Short title, extent and commencement
2. Definitions

II. Establishment of Industrial Development Bank of India and Capital Thereof

3. Establishment and incorporation of Industrial Development Bank of India
4. Authorised capital
   1. Transfer of capital to Central Government
   2. Payment of amount
   3. Issued capital
   4. Reduction of share capital
   5. Conversion of equity shares into redeemable preference shares

III. Management of the Development Bank

5. Management
6. Constitution of Board
   1. Omitted by the Industrial Development Bank of India (Amendment) Act, 1995 (5 of 1995)
   2. Disqualifications of directors
   3. Vacation of office by director
7. Executive Committee and other Committees
8. Fees and allowances of directors and members of committees

IV. Business of the Development Bank

9. Business of Development Bank
   1. Prohibited business
10. Loans by Central Government
11. Borrowings and acceptance of deposits by Development Bank
    1. Power of transfer rights
    2. Power to acquire rights
12. Loans in foreign currency
13. Grants, donations etc., to Development Bank

IV A. Shares

   13 A.  Free transferability of shares
   13 B.  Register of shareholders
   13 C.  Trust not to be entered on the register of shareholders
   13 D.  Board's right to refuse registration of transfer of shares
   13 E.  Shares to be securities under the Indian Trusts Act, 1882

   13 F.  Annual general meeting
   13 G.  Restriction on exercising of voting right
   13 H.  Matters to be discussed and procedure in annual general meeting

V. Development Assistance Fund

14. Development Assistance Fund
15. Credits to Development Assistance Fund
16. Utilisation of Development Assistance Fund
17. Debits to Development Assistance Fund
18. Accounts and audit of Development Assistance Fund
19. Liquidation of Development Assistance Fund

VI. General Fund, Accounts and Audit

20. General Fund
21. Preparation of accounts and balance-sheet
22. Disposal of profits accruing to General Fund
23. Audit
24. Saving

VII. Transfer of Business of Refinance Corporation for Industry

25. Transfer of assets and liabilities of Refinance Corporation for Industry

VIII. Miscellaneous

26. Staff of Development Bank
27. Delegation of powers
28. Returns
29. Obligation as to fidelity and secrecy
30. Defects in appointments not to invalidate acts, etc.
    1. Arrangement with Development Bank on appointment of directors to prevail
31. Indemnity of directors
32. Protection of action taken under this Act
    1. Nomination in respect of deposits, bonds, etc.
33. Act 18 of 1891 to apply in relation to Development Bank
34. Act 10 of 1949 not to apply to Development Bank.
35. Omitted by the Finance (No.2) Act, 1991 (49 of 1991)
36. Liquidation of Development Bank.
37. Power to make regulations.
38. Amendment of certain enactments.
39. Power to remove difficulty.

THE FIRST SCHEDULE

THE SECOND SCHEDULE