Section 49C of The Banking Regulation Act, 1949: Alteration of memorandum of a banking company.
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.]
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