Section 3(2B)(c) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970

[Cites 0, Cited by 2] [Section 3(2B)] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(2B)(c) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970

(c)[ such amounts as the Board of Directors of the corresponding new bank may, after consultation with the Reserve Bank and with the previous sanction of the Central Government, raise whether by public issue [or rights issue or by issue of bonus shares] [Substituted by Act 45 of 2006, Section 2, for Clause (c) (w.e.f. 16.10.2006). ] or preferential allotment or private placement, of equity shares or preference shares in accordance with the procedure as may be prescribed, so, however, that the Central Government shall, at all times hold not less than fifty-one per cent of the paid-up capital consisting of equity shares of each corresponding new bank:

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Union of India - Subsection

Section 3(2B)(c) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970