Section 49C of the Banking Regulation Act, 1949 – Alteration of memorandum of a banking company

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Section 49C: Alteration of memorandum of a banking company

1[49C. Alteration of memorandum of a banking company.–Notwithstanding anything contained in the Companies Act, 1956 (1 of 1956), no application for the confirmation of the alteration of the memorandum of a banking company shall be maintainable unless the Reserve Bank certifies that there is no objection to such alteration.]

Source: official text of The Banking Regulation Act, 1949 as published on India Code (PDF). All sections of the Banking Regulation Act, 1949.

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