Licensing requirement change: IDBI to be deemed licensed under banking law before government disinvestment by notification. The amendment provides that, from commencement by notification, the Industrial Development Bank of India Limited shall be deemed to have obtained a licence under the Banking Regulation Act, and that such deemed licence is a condition precedent to any government disinvestment of its stake resulting in receipts, with the amendments taking effect on a date appointed by the Central Government by notification in the Official Gazette.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Licensing requirement change: IDBI to be deemed licensed under banking law before government disinvestment by notification.
The amendment provides that, from commencement by notification, the Industrial Development Bank of India Limited shall be deemed to have obtained a licence under the Banking Regulation Act, and that such deemed licence is a condition precedent to any government disinvestment of its stake resulting in receipts, with the amendments taking effect on a date appointed by the Central Government by notification in the Official Gazette.
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