https://www.taxtmi.com/circulars?id=54461 These Directions establish the Reserve Bank's framework for voluntary amalgamation of private sector banks and NBFC bank amalgamations, requiring board approval by a two thirds majority of total board membership, shareholder approval by two thirds in value of votes cast, comprehensive due diligence, independent valuation and fair swap ratios, submission of detailed financials and valuer reports, scrutiny of capital adequacy and shareholding concentration, prior Reserve Bank sanction for NBFC amalgamations before Tribunal submission, and provision for dissenting shareholders to claim value as determined by the Reserve Bank. en-us Thu, 21 Apr 2016 00:00:00 +0530 Fri, 22 Apr 2016 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54461 These Directions establish the Reserve Bank's framework for voluntary amalgamation of private sector banks and NBFC bank amalgamations, requiring board approval by a two thirds majority of total board membership, shareholder approval by two thirds in value of votes cast, comprehensive due diligence, independent valuation and fair swap ratios, submission of detailed financials and valuer reports, scrutiny of capital adequacy and shareholding concentration, prior Reserve Bank sanction for NBFC amalgamations before Tribunal submission, and provision for dissenting shareholders to claim value as determined by the Reserve Bank. Circulars FEMA Thu, 21 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54461