SC: Public Premises Act Prevails over State Rent Laws For Evicting Unauthorised Occupants || SC: Doctors Were Unwavering Heroes in COVID-19, and Their Sacrifice Remains Indelible || SC Sets Up Secondary Medical Board to Assess Passive Euthanasia Plea of Man in Vegetative State || NCLAT: Amounts Listed As ‘Other Advances’ in Company’s Balance Sheet aren’t Financial Debt under IBC || NCLT Ahmedabad: Objections to Coc Cannot Bar RP From Challenging Preferential Transactions || J&K&L HC: Courts Should Exercise Caution When Granting Interim Relief in Public Infrastructure Cases || Bombay HC: SARFAESI Sale Invalid if Sale Certificate is Not Issued Prior to IBC Moratorium || Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases || SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension || SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace

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 :