Supreme Court: Award Valid Even If Passed After Mandate Expiry When Court Extends Time || Jharkhand HC: Regular Bail Plea During Interim Bail is Not Maintainable under Section 483 BNSS || Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC || Delhi High Court: Elective Surgery Does Not Bar Grant of Interim Bail on Medical Grounds || Delhi HC: Consensual Romance With Minor Nearing 18 May be Considered For Bail in POCSO Case || Delhi HC: Not Named In FIR Doesn’t Matter If Financial Links Show Active Role in NDPS Offence || Chhattisgarh HC: Rape is an Affront to Womanhood and a Brutal Violation of The Right To Life || Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities || Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged || Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act

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 :