Public financial institution designation: New Development Bank specified under company law for statutory purposes. The Central Government has specified the New Development Bank as a public financial institution for the purposes of section 2(11)(ii) of the Companies Act, 2013. The designation applies to the bank established under the multilateral agreement and its annexe between Brazil, Russia, India, China and South Africa signed at Fortaleza on 15 July 2014, together with any amendment to that agreement.
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Provisions expressly mentioned in the judgment/order text.
Public financial institution designation: New Development Bank specified under company law for statutory purposes.
The Central Government has specified the New Development Bank as a public financial institution for the purposes of section 2(11)(ii) of the Companies Act, 2013. The designation applies to the bank established under the multilateral agreement and its annexe between Brazil, Russia, India, China and South Africa signed at Fortaleza on 15 July 2014, together with any amendment to that agreement.
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