Amendment of section 72AA.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... er sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949); or. (b) any other banking institution or a company subsequent to a strategic disinvestment, wherein the amalgamation is carried out within a period of five years from the end of the previous year during which such strategic disinvestment is carried out; or ; (b) in the long line, after the words such banking institu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... if such amalgamation takes place within five years of strategic disinvestment. It is further proposed to insert a new clause (via) in the Explanation to the said section to define strategic disinvestment by giving reference to the meaning assigned to it in clause (iii) of the Explanation to clause (d) of sub-section (1) of section 72A. This amendment will take effect from 1st April, 2023 and will, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X