NCLT Kochi: Liability of Personal Guarantor Cannot Exceed Contractual Limit || NCLT Ahmedabad: Must Determine Related Party Status When Insolvency Proceedings Commence || Ker. HC: 'Immediate Official Superior' under NDPS Act must be Interpreted in Relation to the Context || J&K HC: In Cases Involving Narco-Terror Links, Cannot Grant Bail Merely Due to Delay in Trial || J&K HC: Civil Courts Can Hear Waqf Disputes if Waqf Tribunal Does Not Exist || J&K HC: Can’t Invoke Principle of ‘No Work, No Pay’ When Termination is Illegal || Rajasthan HC: Should Not Penalize Party Due to Negligence of Legal Counsel || Delhi High Court Passes John Doe Order Restraining Infringement of ‘Tata’ Trademarks || Delhi HC: Dealing in Crypto Currency Has Profound Implications on Economy of the Country || SC: If Citizens Want to Enjoy Fundamental Right it Should be With Reasonable Restrictions

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 :