Exemption for RBI security charges: amendment excludes charges by banking companies in favour of the Reserve Bank when created for statutory lending. The amendment inserts a provision excluding from the Companies (Registration of Charges) Rules any charge created or modified by a banking company in favour of the Reserve Bank of India when the charge arises from a loan or advance made under the Reserve Bank of India Act; the Rules are titled and commence on publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Exemption for RBI security charges: amendment excludes charges by banking companies in favour of the Reserve Bank when created for statutory lending.
The amendment inserts a provision excluding from the Companies (Registration of Charges) Rules any charge created or modified by a banking company in favour of the Reserve Bank of India when the charge arises from a loan or advance made under the Reserve Bank of India Act; the Rules are titled and commence on publication in the Official Gazette.
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