Question

As laid down under the Banking Regulation Act no banking company shall have in its Board of directors, ______________directors who are directors of companies which among themselves are entitled to exercise voting rights in excess of twenty per cent of the total voting rights of all the shareholders to that banking company.

Q: Answer-As laid down under the Banking Regulation Act no banking company shall have in its Board of director...

Section 16. Prohibition of common directors 1A No banking company referred to in sub-section 1 shall have in its Board of directors, more than three directors who are directors of companies which among themselves are entitled to exercise voting rights in excess of twenty per cent of the total voting rights of all the shareholders to that banking company.