SC: POCSO Guilt Presumption Not Absolute, Acquits Accused || Supreme Court: Promotion Cannot Be Claimed as a Vested Right under Repealed Rules || Supreme Court: Promotion Cannot Be Claimed as a Vested Right under Repealed Rules || SC: Unexplained 5-Day Sample Custody Gap Breached S.52A, Acquits 2 after 20 Years || P&H High Court: Illegal Search Alone Does Not Justify Quashing of Complaint under PNDT Act || Bom HC: Creating WhatsApp Group Without Employer's Permission Not Ground for Compulsory Retirement || Madras HC: Lack of Son’s Moral Support Alone Cannot Sustain Father’s Maintenance Claim under CrPC || Kerala HC: University Professor doesn't Occupy 'Public Office', Quo Warranto Not Maintainable || Bombay HC Allows Cutting of 1,237 Mangroves for Connector Bridge in Mumbai’s Western Suburbs || Calcutta HC Orders Return of 3-Year-Old to Adoptive Couple, he wasn't Abandoned

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 :