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of <h1>Writ petition dismissed challenging RBI approval of bank amalgamation after Section 44A majority confirmed by chairman's letter</h1> <h3>R.P. SOMANI & ORS. Versus UNION OF INDIA & ORS.</h3> The SC dismissed the writ petition challenging the RBI's approval of a bank amalgamation, holding that the petitioner failed to show infirmity in the ... - Petition challenged the Reserve Bank of India's approval of the amalgamation of Bank of Rajasthan with ICICI Bank on the ground that no General Body Meeting in terms of Section 44A of the Banking Regulation Act, 1949 had been convened, rendering the scheme vitiated. Respondent produced a letter dated 22 June 2010 from the Chairman of the Extra-ordinary General Meeting stating that 'the scheme of amalgamation of the Bank of Rajasthan with ICICI Bank, as provided in the notice dated 23rd May, 2010 ... had been passed by the required majority in accordance with the terms of Section 44A of the said Act by the shareholders of the Bank of Rajasthan in the said meeting.' In view of that communication, the Court found 'no ground is made out for our interference' and dismissed the writ petition, upholding the amalgamation approval.
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