https://www.taxtmi.com/acts?id=40249 Section 45 authorises the Reserve Bank to seek a moratorium suspending actions and payments against a banking company and to prepare a scheme for reconstruction or amalgamation. The scheme may transfer assets, liabilities and business to a transferee bank, alter corporate and governance structures, regulate member, depositor and creditor rights including cash payment or share allotment, secure employee terms with specified safeguards, and, once sanctioned by the Central Government, becomes binding and effectual, with transfers of property and liabilities occurring by virtue of the scheme. en-us Wed, 22 Sep 2021 12:08:10 +0530 Wed, 22 Sep 2021 12:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40249 Section 45 authorises the Reserve Bank to seek a moratorium suspending actions and payments against a banking company and to prepare a scheme for reconstruction or amalgamation. The scheme may transfer assets, liabilities and business to a transferee bank, alter corporate and governance structures, regulate member, depositor and creditor rights including cash payment or share allotment, secure employee terms with specified safeguards, and, once sanctioned by the Central Government, becomes binding and effectual, with transfers of property and liabilities occurring by virtue of the scheme. Act-Rules Income Tax Wed, 22 Sep 2021 12:08:10 +0530 https://www.taxtmi.com/acts?id=40249