Section 10A: Annual general meeting.

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980Central Act · Act 40 of 1980

[10A. Annual general meeting.--(1) A general meeting (in this Act referred to as an annual general meeting) of every corresponding new bank which has issued capital under clause (c) of subsection (2B) of section 3 shall be held at the place of the head office of the bank in each year at such time as shall from time to time be specified by the Board of Directors:

Provided that such annual general meeting shall be held before the expiry of six weeks from the date on which the balance-sheet, together with the profit and loss account and auditor's report is, under sub-section (7A) of section 10, forwarded to the Central Government or to the Reserve Bank, whichever date is earlier.

(2) The shareholders present at an annual general meeting [shall be entitled to discuss, approve and adopt] the balance-sheet and the profit and loss account of the corresponding new bank made up to the previous 31st day of March, the report of the Board of Directors on the working and activities of the corresponding new bank for the period covered by the accounts and the auditor's report on the balancesheet and accounts.]

[(3) Nothing contained in this section shall apply during the period for which the Board of Directors of a corresponding new bank had been superseded under sub-section (1) of section 18A:

Provided that the Administrator may, if he considers it appropriate in the interest of the corresponding new bank whose Board of Directors had been superseded, call annual general meeting in accordance with the provisions of this section.]

Where this provision sits

Act	The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
Section	10A
Marginal note	Annual general meeting.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 37 of 1994. . Ins. by Act 37 of 1994, s. 16 (w.e.f. 15-7-1994).
substituted, Act 45 of 2006. . Subs. by Act 45 of 2006, s. 11, for "shall be entitled to discuss" (w.e.f. 16-10-2006).
inserted, Act 45 of 2006. . Ins. by Act 45 of 2006, s. 11 (w.e.f. 16-10-2006)

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.