1. Short title and commencement.—(1) This Act may be called the Industrial Reconstruction
Bank (Transfer of Undertakings and Repeal) Act, 1997.
(2) It shall be deemed to have come into force on the 24th day of January, 1997.
2. Definitions.—In this Act, unless the context otherwise requires—
(a) “appointed day” means such date as the Central Government may, by notification in the
Official Gazette, appoint under section 3;
(b) “Company” means the Industrial Investment Bank of India Limited to be formed and
registered under the Companies Act, 1956 (1 of 1956);
(c) “Reconstruction Bank” means the Industrial Reconstruction Bank of India established under
sub-section (1) of section 3 of the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984).