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Section 40, Small Industries Development Bank of India Act, 1989 [S1W-43F]

As at 7 September 2026. In force from 28 August 1989 by S.O. 2733(E) [N12-4Y2].

In Small Industries Development Bank of India Act, 1989 [A10-ZYX]. This text from 28 August 1989. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 40, Small Industries Development Bank of India Act, 1989 [S1W-43F]. Machine: S1W-43F.

40. Prohibition of the enforcement of security interest without licence.—No person shall undertake the enforcement of security interest except under and in accordance with the conditions of a licence granted under section 41: Provided that nothing in this section shall apply to the enforcement of security interest undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

security interest: Section 2, Small Industries Development Bank of India Act, 1989 [S1W2XE] (In this Act, unless the context otherwise requires,—): "security interest" means right, title or interest of any kind upon property created in favour of a secured creditor

security interest: 17 more definitions.

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