Section 4 of SFC Act – Section 4: Share Capital And Share-Holders

The State Financial Corporations Act, 1951

CHAPER II: INCORPORATION OF STATE FINANCIAL CORPORATIONS THEIR CAPITAL AND MANAGEMENT

Section 4: Share Capital And Share-Holders

(1) The authorised capital of the Financial Corporation shall be such sum as may be fixed by the State Government in this behalf, but it shall not be less than fifty lakhs of rupees or exceed five hundred crores of rupees: Provided that the State Government may, on the recommendation of the Small Industries Bank, by notification in the Official Gazette, increase the authorised capital up t

Explanation using examples

Imagine the state of Westland decides to establish a State Financial Corporation (SFC) to support small industries within the state. The Westland State Government, following Section 4 of The State Financial Corporations Act

Section 4 of SFC Act : Section 4: Share Capital And Share-Holders

Bare Act

Simplified Act

Explanation using examples

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