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[Cites 0, Cited by 0] [Section 12B(1)] [Section 12B] [Entire Act]

Union of India - Subsection

Section 12B(1)(c) in The Banking Regulation Act, 1949

(c)persons shall be deemed to be "acting in concert" who, for a common objective or purpose of acquisition of shares or voting rights in excess of the percentage mentioned in this sub-section, pursuant to an agreement or understanding (formal or informal), directly or indirectly cooperate by acquiring or agreeing to acquire shares or voting rights in the banking company.