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[Cites 0, Cited by 0] [Section 6(2)] [Section 6] [Entire Act]

State of Andhra Pradesh - Subsection

Section 6(2)(i) in Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020

(i)no fractional shares shall be issued by the Transferee Bank in respect of fractional entitlements, if any, to any shareholder of the Transferor Banks and the Board of the Transferee Bank shall, instead pay the Transferor Banks' shareholders, cash equal to the value of such fractional share determined in accordance with the valuation of the shares of the Transferee Bank;