Sir company act applicable to banks.

1 answer

Ravi Staff March 11, 2015

if banking regulation act, RBI act, guidelines are applicable in any matter they will be applicable else company act will be applicable.
for example section 29 of banking regulation act specifies who will sign financial statements hence section 137 of companies act in not applicable.
similarly section 30 specifies about audit report so section 143 is applicable. but in other cases such as AGM etc companies act is applicable.

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