SC: Disciplinary Proceedings Cannot Follow if an Officer is Discharged on the Same Charge || SC Clarified the Distinction Between Arbitration “Seat” And “Venue” While Summarising Key Principles || Supreme Court: Wife and Her Family Cannot Be Prosecuted For Dowry-Giving Based On Her Complaint || SC: Plaint Cannot Be Rejected Under Order VII Rule 11 CPC on the Ground of Order II Rule 2 Bar || Supreme Court Has Issued an SOP Prescribing Strict Timelines For Filing Legal Aid Appeals || Madras HC: Dhurandhar 2 Release Cannot be Stalled Due to Objections From a Small Section || Delhi HC: Lokpal May Form Prima Facie Opinion Before Show Cause Notice Without Prior Hearing || Bom HC: Family Courts Cannot Casually Order a Spouse’s Medical Examination to Assess Mental Health || Bombay HC: Child Care Leave Protects Motherhood and Denial Violates Rights of Mother and Child || Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income

Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016- (Reserve Bank of India) (21 Apr 2016)

MANU/RMIC/0070/2016

Banking

The Reserve Bank of India notified Master Directions regarding amalgamation of two banking companies or of a banking company and an NBFC. For both, amalgamation proposals have to be approved by two-third majorities of the total Board members, not just those forming quorum.

The Directions cover the procedure for amalgamation and enumerate the entitlements of dissenting shareholders.

Relevant : Report reviewing supervisory role of Boards MANU/DBOD/0040/2002 Guidelines for Merger /Amalgamation of Private Sector Banks MANU/DBOD/0034/2005

Tags : AMALGAMATION PRIVATE BANKS NBFC

Share :