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[Cites 0, Cited by 0] [Section 4(7)] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(7)(b) in The Industrial Finance Corporation Act, 1948

(b)the capital issued by the Corporation shall be increased by such number of shares as the Central Government may specify in this behalf and all such shares shall stand allotted to and be subscribed by the Development Bank, so however that after such increase the Development Bank holds not less than fifty per cent. of the paid-up capital of the Corporation.