Legal Question in Banking Law in India
Are Indian Nationalised banks registered under the companies act,1956?
Asked on 10/04/11, 11:32 am
3 Answers from Attorneys
J. Radhakrishnan
independent Practice
Indian nationalized banks now 19 in number are governed by a separate statute by name 'Banking Companies (Acquisition and Transfer of Undertakings) Act and State Bank of India is governed by State Bank of India Act. Its subsidiaries like State Bank of Hyderabad, Travancore, Mysore, Patiala and Bikaner and Jaipur are governed by State Bank of India (subsidiary Banks) Act. They are not governed by the Companies Act. Some of the Provisions of Banking Regulation Act applies to these public sector Banks.
Answered on 10/04/11, 7:35 pm
KarVai Legal Solutions
Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in
they are not governed by companies act ... rest u can refer the above appropriate suggestion ,,
Answered on 10/05/11, 12:40 am
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
i agree with Adv Radhakrishnan
Answered on 10/08/11, 10:49 pm
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