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TMI BlogSubstitution of new section for section 72AA.X X X X Extracts X X X X X X X X Extracts X X X X ..... e of amalgamation in certain cases. 72AA. Notwithstanding anything contained in sub-clauses (i) to (iii) of clause (1B) of section 2 or section 72A, where there has been an amalgamation of (i) one or more banking company with any other banking institution under a scheme sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sponding new bank or banks or amalgamating Government company or companies shall be deemed to be the loss or, as the case may be, allowance for depreciation of such banking institution or amalgamated corresponding new bank or amalgamated Government company for the previous year in which the scheme of amalgamation was brought into force and other provisions of this Act relating to set off and carry ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 5 of the Banking Regulation Act, 1949; (10 of 1949.) (iii) banking institution shall have the meaning assigned to it in sub-section (15) of section 45 of the Banking Regulation Act, 1949; (10 of 1949.) (iv) corresponding new bank shall have the meaning assigned to it in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r companies or amalgamating corresponding new bank or banks or amalgamating Government company or companies which remains to be allowed and which would have been allowed to such banking company or companies or amalgamating corresponding new bank or banks or amalgamating Government company or companies, if the amalgamation had not taken place. . - - statute, statutory provisions legislation, la ..... X X X X Extracts X X X X X X X X Extracts X X X X
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