LawgistThe Banking Companies (Acquisition and Transfer of Undertakings) Act
11Corresponding new bank deemed to be an Indian company
For the purposes of the Income-tax Act, 1961 (43 of 1961), every corresponding new bank shall be deemed to be an Indian company and a company in which the public are substantially interested.
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MISCELLANEOUS
- 10 Closure of accounts and disposal of profits
- 10A Annual general meeting
- 10B Transfer of unpaid or unclaimed dividend to Unpaid Dividend Account.
- 11 Corresponding new bank deemed to be an Indian company
- 12 Vacation of office of Chairman, etc
- 12A Bonus
- 13 Obligations as to fidelity and secrecy
- 14 Custodian to be public servant
- 15 Certain defects not to invalidate acts or proceedings
- 16 Indemnity
- 16A Arrangement with corresponding new bank on appointment of directors to prevail
- 17 Construction of references to existing banks
- 18 Dissolution
- 18A Supersession of Board in certain cases
- 19 Power to make regulations
- 20 [Repealed.]
- 21 Repeal and saving
