Share capital - Further issue ‑ Institutions specified by Central Government for the purposes of clause (b) of the proviso to section 81(3)(b) - SO 2577, - Companies Law

Notification : No. SO 2577, dated 30 ‑ 7 ‑ 1977, as amended by SO 1328, dated 8 ‑ 5 ‑ 1978; SO 2902, dated 9 ‑ 10 ‑ 1987; SO 239(E), dated 20 ‑ 3-1990; SO 6(E), dated 3 ‑ 1 ‑ 1990; SO 1033(E), dated 12 ‑ 12 ‑ 1989 and SO 269(E), dated 26 ‑ 4 ‑ 1993. Subject:- Share capital - Further issue ‑ Institutions specified by Central Government for the purposes of clause (b) of the proviso to section 81(3)(b) S.O. 2577.- In exercise of the powers conferred by clause (b) of the proviso to clause (b) of sub‑section (3) of section 81 of the Companies Act, 1956, the Central Government hereby specifies the following institutions for the purposes of the said clause, namely: (i) The Industrial Finance Corporation of India, established under the Industrial Finance Corporation Act, 1948 (15 of 1948); (ii) The Life Insurance Corporation of India, established under the Life Insurance Corporation Act, 1956 (31 of 1956); (iii) The Unit Trust of India, established under the Unit Trust of India Act, 1963 (52 of 1963); (iv) The Industrial Development Bank of India, established under the Industrial Development Bank of India Act, 1964 (18 of 1964); (v) The Industrial Credit and Investment Corporation Limited, a company registered under the Companies Act, 1913 (7 of 1913); (vi) The Industrial Reconstruction Corporation of India established under the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984); (vii) The General Insurance Corporation of India, established under the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972); (viii) The National Insurance Company Limited, formed and registered under the Companies Act, 1956 (1 of 1956); (ix) The New India Assurance Company Limited, formed and registered under the Companies Act, 1956 (1 of 1956); (x) The Oriental Fire and General Insurance Company Limited, formed and registered under the Companies Act, 1956 (1 of 1956); (xi) The United Fire and General Insurance Company Limited, formed and registered under the Companies Act, 1956 (1 of 1956); (xii) Risk Capital Technology Finance Corporation Limited; (xiii) Tourism Finance Corporation of India Ltd.; (xiv) Shipping Credits Investment Company of India Ltd.; (xv) Technology Development Information Company of India Ltd.