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.
    A More than three Correct Answer Incorrect Answer
    B Less than three Correct Answer Incorrect Answer
    C More than five Correct Answer Incorrect Answer
    D Less than five Correct Answer Incorrect Answer

    Solution

    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.

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