Karnataka HC: A Neighbour Cannot be Charged With Matrimonial Cruelty under Section 498A IPC || Revisional Power U/S 25B(8) of Delhi Rent Control Act is Supervisory; HC Cannot Revisit Facts || Poverty Cannot Bar Parole; Rajasthan HC Waives Surety For Indigent Life Convict, Sets Guidelines || Delhi High Court: Late Payment of TDS Does Not Absolve Criminal Liability under the Income Tax Act || NCLT Kochi: Avoidance Provisions under Insolvency Code Aim to Restore, Not Punish, Parties || Bombay High Court: In IBC Cases, High Courts Lack Parallel Contempt Jurisdiction over the NCLT || Supreme Court: Concluded Auction Cannot Be Cancelled Merely To Invite Higher Bids at a Later Stage || SC: In Customs Classification, Statutory Tariff Headings and HSN Notes Prevail over Common Parlance || SC: Under the Urban Land Ceiling Act, Notice U/S 10(5) Must be Served on the Person in Possession || Supreme Court: Only Courts May Condone Delay; Tribunals Lack Power Unless Statute Allows

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 :