Section 12A of The Banking Regulation Act

Here we will see Section 12A of The Banking Regulation Act. 12A. Election of new directors.— (1) The Reserve Bank may, by order, require any banking company to call a general meeting of the share holders of the company within such time, not less than two months from the date of the order, as may […]

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Section 12 of The Banking Regulation Act

Here we will see Section 12 of The Banking Regulation Act. Regulation of paid–up capital, subscribed capital and authorised capital and voting rights of shareholders.— (1) No banking company shall carry on business in India, unless it satisfies the following conditions, namely:— (i) that the subscribed capital of the company is not less than one–half […]

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Section 11 of The Banking Regulation Act

Here we will see Section 11 of The Banking Regulation Act. Requirement as to minimum paid–up capital and reserves.— (1) Notwithstanding anything contained in section 149 of the Companies Act, 1956 (1 of 1956), no banking company in existence on the commencement of this Act, shall, after the expiry of three years from such commencement […]

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Section 10D of The Banking Regulation Act

Here we will see Section 10D of The Banking Regulation Act. 10D. Provisions of sections 10A, 10B and 10BB to override all other laws, contracts, etc.— Any appointment or removal of a director, chairman of the Board of directors who is appointed on a whole–time basis or managing director in pursuance of section 10A or […]

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Section 10C of The Banking Regulation Act

Here we will see Section 10C of The Banking Regulation Act. 10C. Chairman and certain directors not to be required to hold qualification shares.— A chairman of the Board of directors who is appointed on a whole–time basis or a managing director of a banking company (by whomsoever appointed) and a director of a banking […]

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