SC: NDPS Disposal Rules Do Not Prevent Interim Release of Seized Vehicle to Innocent Owner || SC: Police Can Register FIR for Threatening Witness under S.195A IPC Without Court Complaint || Supreme Court: Pre-Litigation Mediation Not Required for Cases of Continuing IPR Infringement || Madras HC: Customs Brokers’ Offence Report Need Not Be Penal; 90-Day Period Starts on Receipt || Delhi HC: Police Evidence Valid Even if Narcotics Search and Seizure Were Not Videographed || Orissa HC: Court Must Pass Decree Based on Mediation Report Once Dispute is Referred to Mediation || Delhi HC: Employees Strictly Liable to Return Company Property Upon Termination of Employment || Delhi HC: Cheques Issued Solely as Security Cannot be Encashed for Any Existing Debt || Delhi HC: Changing POCSO Victim’s Clothes Before Medical Examination Does Not Affect Evidence || Delhi HC: Legal Heirs Can Seek Impleadment in Pending Appeals under FEMA

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 :