Patna HC: Disciplinary Authority Cannot Impose Major and Minor Penalties in a Single Order || Calcutta HC: Landlord Decides His Residential Needs; Courts Cannot Set Living Standards in Eviction || Orissa HC: Second Marriage During Subsistence of First Remains Invalid Even After First Wife's Death || Karnataka HC: Appeals Against Acquittal in Bailable Offences Lie Only Before High Court || Supreme Court: Stamp Duty on an Agreement to Sell is Leviable Only if Possession is Transferred || SC: Motive Becomes Irrelevant When Direct Evidence Such as a Dying Declaration is Available || Supreme Court Issues Directions to CoC in Builder Insolvency Cases To Protect Homebuyers’ Interests || MP High Court: Women Retain Reservation Benefits After Marriage if Caste is Recognized in Both States || Allahabad HC: Police Must Prosecute Informants of False Firs, and IOs May Face Contempt if They Fail || MP HP: Over-Age Candidate Cannot Claim Age Relaxation Due to Delay in Earlier Recruitment

Revised directions for acquisition of shares and voting rights in private banks- (Reserve Bank of India) (19 Nov 2015)

MANU/RPRL/0207/2015

Banking

The Reserve Bank of India issued revised guidelines requiring prior approval for acquiring share or voting rights in private sector banks. Two amendments of note are: approval of the RBI prior to acquisition of shares or compulsorily convertible, or converting optionally convertible, debentures/bonds or voting rights; shareholders of banks with more than five per cent paid-up share capital to give an annual declaration to the bank on their ‘fit and proper’ status, or furnish information if such is not the case.

Tags : PRIVATE BANK VOTING RIGHTS ACQUISITION FIT AND PROPER

Share :