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

Union of India - Subsection

Section 6(2)(i) in Amalgamation of Syndicate Bank into Canara Bank 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 Bank and the Board of the Transferee Bank shall, instead pay the Transferor Bank' shareholders, cash equal to the value of such fractional share determined in accordance with the valuation of the shares of the Transferee Bank;