Question

Can a Banking Company incorporated in India have as a director in its Board of directors any person who is a director of any other banking company?

A No Correct Answer Incorrect Answer
B Yes Correct Answer Incorrect Answer
C Maybe if approved by the company Correct Answer Incorrect Answer
D If approved by Central Government Correct Answer Incorrect Answer
E If approved by the Board of Directors Correct Answer Incorrect Answer

Solution

Section 16. Prohibition of common directors: (1) No banking company incorporated in India shall have as a director in its Board of directors any person who is a director of any other banking company.

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