Section 10(1)(b) in Banking Companies Act, 1949

[Cites 0, Cited by 2] [Section 10(1)] [Section 10] [Entire Act]

Union of India - Subsection

Section 10(1)(b) in Banking Companies Act, 1949

(b)shall employ any person—

(i)who is or at any time has been adjudicated insolvent, or has suspended payment or has compounded with his creditors, or who is or has been convicted by a Criminal Court or an offence involving moral turpitude; or

(ii)whose remuneration or part of whose remuneration takes the form of commission or of a share in the profits of the company; or

(iii)whose remuneration is, according to the normal standards prevailing in banking business, on a scale disproportionate to the resources of the company; or

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Union of India - Subsection

Section 10(1)(b) in Banking Companies Act, 1949