1. the defendant or respondent, or where there is more than one defendant or respondent, any one of them-

1. has his registered office; or
2. carries on the whole or part of his business, at the time of the commencement of any legal proceedings against him under this Act; or

2. the cause of action for such legal proceedings, wholly or in part, arises;]

1. This Act has been extended to Goa, Daman and Diu by Reg. 12 of 1962, s. 3 and Sch.; Dadra and Nagar Haveli by Reg. 6 of 1963, s. 2.and Sch. I, and to the Laccadive, Minicoy and Amindivi Islands by Reg. 8 of 1965, s. 3 and Sch., Extended to Kohima and Mokokchung districts in the State of Nagaland by Act 52 or 1975, s. 21.2. Subs. by the A. O. 1950, for sub-section (2).3. The words "except the State of Jammu and Kashmir" omitted by Act 28 of 1955, s. 2.4. 1st July, 1948, vide Notification No. F-10(1)(a)F. 1/48, dated the 15th June, 1948, Gazette of India, Extraordinary, 1948, p. 853.5. Subs. by Act 2 of 1982, s. 2 (w.e.f. 12.3.1982)38.1*[(b) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964);]

3. 2*["industrial concern" means any limited company operative society incorporated by a Central Act or an Act of the Legislature of a State or under any law for the time being in force and registered in India which is engaged or to be engaged in-

1. the manufacture, preservation or processing of goods;
2. shipping;
3. mining;
4. the hotel industry;
5. 3*[the generation, storage or distribution of electricity or any other form of energy;]
6. the transport of passengers or goods by road or by water or by air or by ropeway or by lift;
7. the maintenance, repair, testing or servicing of 3*[machinery or equipment] of any description or vehicles or vessels or motorboats or trailers or tractors;
8. assembling, repairing or packing any article with the aid of machinery or power;
9. 3*[(the setting up of, or development of, an industrial area or an industrial estate;]
10. fishing or providing shore facilities for fishing or maintenance thereof;
11. providing special or technical knowledge or other services for the promotion of industrial growth;<
    4* * * * *
12. 3*[providing engineering, technical, financial, management, marketing or other services or facilities for industry;
13. providing medical, health or other allied services;
14. providing services relating to information technology, tele - communication or electronics;
15. leasing, sub-leasing or giving on hire or hire - purchase of industrial plants, equipments, machinery or other assets, including vehicles, ships and aircraft;
16. such other activity as the Central Government may, HAVING regard to the objects of this Act, by notification in the Official Gazette, specify in this behalf; or
17. the research and development of any concept, technology, design, process or product, whether in relation to any of the matters aforesaid, including any activities specified under sub - clause (xvi), or any other matter.

Explanation.- For the purposes of sub-clause (i), the expression "processing of goods" includes any art or process for producing, preparing or making an article by subjecting any material to a manual, mechanical, chemical, electrical or any other like operation;]

4. "prescribed" means prescribed by rules or regulations made under this Act;
5. "Reserve bank" menas the Reserve Bank of India:
6. "scheduled bank" means a bank for the time being included in the second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934.);

ff        

5*[ "State co-operative bank" has the same meaning as in the Reserve Bank of India Act, 1934 (2 of 1934.);]

1. Ins. by Act. 18 of 1964, s. 38 and Sch. II (w.e.f. 1-7-1964).
2. Subs. by Act 2 of 1982, s. 2 (w.e.f. 12-3-1982).
3. Subs. by Act 50 of 1986, s. 2 (w.e.f. 2-2-1987).
4. Omitted by s. 2, ibid. (w.e.f. 2-2-1987).
5. Ins. by Act 74 of 1972, s. 2.39.1* * * * *<
    

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