CCPA Fines Chaayos Rs.50,000 for Default Inclusion of Service Charge in Bills || MP HC: Major Unmarried Daughter Need Not Prove Disability to Claim Maintenance if Unable to Earn || Madras HC: Travel Costs Must be Reimbursed to Independent Special Public Prosecutors || MP HC: Timely Coordination Between Police, Banks and Telecom Bodies is Crucial in Cyber Fraud || Kerala HC: Foreign Counsel Cannot Conduct Cross-Examination Before Commissioners || Allahabad HC: Proclaimed Offenders Get Anticipatory Bail Only in Rare and Exceptional Cases || Madras HC: Repeated Intimacy Alone Doesn't Prove Consent; Coercion & Deception Must be Examined || SC: Government Can Revise Royalty under the MMDR Act Despite a Silent Lease Deed || SC: Recovery of a Weapon Alone is Insufficient to Prove Guilt Without Conscious Possession || SC: Section 68 of Evidence Act Does Not Require Attesting Witnesses to Prove Registered Sale Deeds

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 :