Delhi HC: Woman's Right to a Shared Household Does Not Allow Indefinite Occupation of In-Laws' Home || Delhi HC: Director Disputes in a Company Do Not Qualify as Genuine Hardship to Delay ITR Filing || Delhi HC: ECI Cannot Resolve Internal Disputes of Unrecognised Parties; Civil Court Must Decide || Bombay High Court: Senior Citizens Act Cannot be Misused to Summarily Evict a Son || Chhattisgarh HC: Service Tax Refund Can't Be Denied on Limitation When Payment Was Made During Probe || Supreme Court: If Tribunal Ends Case For Unpaid Fees, Parties Must Seek Recall Before Using S.14(2) || SC: Article 226 Writs Jurisdiction Cannot be Used to Challenge Economic or Fiscal Reforms || Supreme Court: Hostile Witness Testimony Can't Be Discarded; Consistent Parts Remain Valid || Supreme Court: GPF Nomination in Favour of a Parent Becomes Invalid Once the Employee Marries || Supreme Court: Candidate Not Disqualified if Core Subject Studied Without Exact Degree Title

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 :