Supreme Court: Promotion Suitability Must be Decided by Experts, Courts Cannot Create New Methods || SC: Market Integrity is Paramount; Rule Violators Cannot Escape Liability by Citing Investor Gains || SC: Plaintiff's Reply to Counterclaim in Commercial Suits Must Meet Written Statement Deadline || SC: Pre-2016 Debt Recovery Tribunal Recovery Certificates Cannot Support Insolvency Notices || SC: Children's Court Cannot Try Child as Adult Without Passing a Reasoned Order under JJ Act || SC: Contractual Clauses Denying Interest on Security Deposits Does Not Violate Public Policy || J&K&L HC: Unamended Pleading Loses Effect After Amendment; Party Cannot Benefit From Own Default || Allahabad HC: Wife's Maintenance Need Not be Fixed at 25% of Husband's Net Income || Kerala HC: Social Customs Alone Cannot Prove Bride Entrusted Gold to Husband or In-Laws || Karnataka HC: Century Club Qualifies as a Public Authority under the RTI Act Due to Land Grant

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 :