Legal Question in Banking Law in India
Whether Indian Overseas bank is a banking company. It claims that it is not a company since it was formed by The Banking Companies (Acquisiiton and Transfer of Undertakings ) Act, 1970
Asked on 10/27/12, 6:50 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
28.10.2012
Dear Sir / Madam,
The Indian Overseas Bank is a scheduled bank governed by the provisions of the Indian Banking Act even though it was formed by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Regards,
FCA Prashant Chavan
Mumbai
(You can also mail me for any further on-line advice at [email protected])
Answered on 10/28/12, 8:11 am
Sanjay Kalra
Sanjay Kalra & Associates
Its a nationalised Bank . Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
Answered on 11/07/12, 2:35 am
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