Section 2 of SFC Act : Section 2: Definitions
SFC Act
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Explanation using Example
Let's say a local entrepreneur, Priya, is planning to start a business that specializes in the manufacturing of eco-friendly packaging materials. She needs financial assistance to purchase machinery and to cover initial operational costs. Priya approaches her state's Financial Corporation for a loan.
In this context, the term "Board" refers to the group of directors governing the Financial Corporation from which Priya is seeking the loan. The "Financial Corporation" i...
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