Section 31 of the Companies Act, 2013, introduces the concept of a shelf prospectus, a significant advancement in the regulatory framework governing securities issuance in India. This provision allows certain classes of companies to issue securities multiple times within a specified period without the need to file a fresh prospectus for each offering, thereby streamlining […]
Disqualifications of Directors and members of Local Boards (1) No person may be a Director or a member of a Local Board who— (a) is a salaried Government official, or (b) is, or at any time has been, adjudicated an insolvent, or has suspended payment or has compounded with his creditors, or (c)
Local Boards, their constitution and functions (1) A Local Board shall be constituted for each of the four areas specified in the First Schedule and shall consist of five members to be appointed by the Central Government to represent, as far as possible, territorial and economic interests and the interest of co-operative and indigenous banks.
Composition of the Central Board and term of office of Directors (1) The Central Board shall consist of the following Directors, namely :— (a) a Governor and [not more than four] Deputy Governors to be appointed by the Central Government ; (b) four Directors to be nominated by the Central Government, one from each
Management (1) The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest. (2) Subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted
Offices, branches and agencies The Bank shall, as soon as may be, establish offices in Bombay, Calcutta, Delhi and Madras [***] and may establish branches or agencies in any other place in India or, with the previous sanction of the Central Government elsewhere.
The Income Tax Return (ITR) filing deadline is a crucial date that individuals and businesses must keep in mind each year. Filing your ITR within the specified deadline is not only a legal obligation but also a responsible financial practice. However, life can sometimes get busy, and you might find yourself unable to meet the
Increase and reduction of share capital [Repealed by the Reserve Bank (Transfer to Public Ownership) Act, 1948 w.e.f. 1-1-1949.]
On the gold loan it extends to you, Canara Bank will levy interest. Due to the fact that a gold loan is secured, its interest rate is significantly lower than that of an unsecured loan, such as a personal loan. Additionally, you are eligible for a loan sum equal to up to 90% of the
Capital of the Bank The capital of the Bank shall be five crores of rupees.
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