Supreme Court Unveiled Victim Protection Plan For Trafficking Survivors and Urged Legal Reforms || Supreme Court Cautioned Against the Misuse of False POCSO Cases in Matrimonial Disputes || Supreme Court Cautioned Against the Misuse of False POCSO Cases in Matrimonial Disputes || SC: Assigning Mathadhipati’s Secular Duties to Govt Officer Violates Art 26, Undermines Mahantship || Supreme Court: All MIDC Units are Exempt From Property Tax Until Services are Transferred to NMMC || Supreme Court: All MIDC Units are Exempt From Property Tax Until Services are Transferred to NMMC || SC: Arbitral Award Unenforceable if Invoked During Pending Civil Suit Without Court’s Permission || Delhi High Court: Participation in Protests Can't Be a Ground to Deny Bail in PMLA Case || Delhi High Court Lays Down Guidelines to Mask Personal Details in Orders under Right to be Forgotten || Raj HC: Poverty Cannot Defeat Right to Bail and Accused Cannot be Jailed For Lack of Sureties

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 :