Supreme Court Raises Concerns over MACT Rulings, Seeks Clear and Well-Reasoned Findings || Supreme Court Revives over Rs.16 Crore Service Tax Demand Against BPCL and HPCL in CNG Sales Case || Supreme Court Reduces Gang Rape Convict's Sentence to 20 Years, Cites Reform Prospects || Rajasthan High Court: NI and Commercial Court Proceedings Equal, Grants Accused Original Records || Bombay HC: Officials, Not Taxpayers, Must Pay For Losses From Illegal Project Cancellations || Karnataka HC: Major Unmarried Daughter can Claim PG Education Costs under Domestic Violence Act || Punjab & Haryana HC Calls For Wisdom Amid Lawyers' Strike over LADCS || Kerala HC Orders SIT to Conclude Sabarimala Gold Theft Probe After National Metallurgical Lab Report || Delhi HC Lifts Gag Order on the Wire; Prior Restraint in Defamation Not Sustainable || Delhi HC: Parents Fined Rs.2 Lakh over False Birth Date for School Admission

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 :