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[Cites 0, Cited by 0] [Section 45(5)] [Section 45] [Entire Act]

Union of India - Subsection

Section 45(5)(h) in The Banking Regulation Act, 1949

(h)the allotment to the members of the banking company for shares held by them therein before its reconstruction or amalgamation [whether their interest in such shares has been reduced under clause (f) or not, of shares in the banking company on its reconstruction or, as the case may be, in the transferee bank and where any members claim payment in cash and not allotment of shares, or where it is not possible to allot shares to any members, the payment in cash to those members in full satisfaction of their claim-
(i)in respect of their interest in shares in the banking company before its reconstruction or amalgamation; or
(ii)where such interest has been reduced under clause (f) in respect of their interest in shares as so reduced;