SC: Repeated Anticipatory Bail Pleas Abuse Process and Reduce Litigation to a Gamble || Supreme Court: State Officers Cannot Back Litigants Through Affidavits Against the Law || Supreme Court: Accused Deserves Parity With Discharged Co-Accused if Evidence is Not Stronger || SC Allows Euthanasia of Rabid Stray Dogs if Necessary and Protects Officials Acting in Good Faith || Kerala High Court: University Syndicate Cannot Sue Chancellor as Both Form Same Legal Body || Kerala High Court: Unsigned FIS is Admissible if Informant Confirms its Contents in Court || J&K&L High Court: Purchaser’s Structure on Migrant Land Alone Cannot Block Sale Deed Registration || Supreme Court: Bail Remains the Rule and Jail the Exception, Even under the UAPA Law || Supreme Court: Principle of Res Judicata Also Applies Between Stages of the Same Case || Supreme Court: Govt Servant Has No Right to Old Rule Promotion Just Due to Earlier Vacancies

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 :