Vidhi Codex

Bare Act

The Gujarat Industrial Development Act, 1962

Corporate196217 sections3 chapters

The Gujarat Industrial Development Act, 1962 establishes the Gujarat Industrial Development Corporation to promote, organize, and accelerate industrial growth across the state of Gujarat. The law applies state-wide to industrial businesses, property developers, and government authorities involved in economic expansion. It empowers the corporation to acquire land, construct factory sheds and residential housing, build essential infrastructure like roads and utilities, and offer loans or financial assistance to relocating industries. By creating well-planned industrial areas and streamlined facilities, this legislation helps drive economic development, generate employment, and support organized industrialization throughout the region.

Start reading →Read full ActSections

Chapter I PRELIMINARY →

  1. 1Short title, extent and commencement
  2. 2Definitions

Chapter II ESTABLISHMENT AND CONSTITUTION OF THE CORPORATION →

  1. 3Establishment and incorporation
  2. 4Constitution
  3. 5Disqualification for membership
  4. 6Term of office and conditions of service of members
  5. 7Meetings of Corporation
  6. 8Cessation of membership
  7. 9Vacancies how to be filled
  8. 11Provided that, during any such vacancy the continuing members may act as if no vacancy had occurred.
  9. 12Officers and servants of corporation

Chapter III FUNCTIONS AND POWERS OF THE CORPORATION →

  1. 13Functions
  2. 14General powers of Corporation
  3. 15Authentication of orders and documents of Corporation
  4. 21Power of Corporation to borrow
  5. 22Deposits
  6. 23Reserve and other funds

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