Bank of baroda

Comparative Table of Rights of Shareholders under Companies Act, 1956 and under Bank Regulations, Banking
Regulation Act, Bank Acquisition Act and Nationalised Banks (Management and Miscellaneous Provisions) Scheme,
1970, as applicable to Corresponding New Banks
Section of
Companies Act
Rights available to shareholders of a
company
Corresponding Provision* Rights available to
shareholders of a
Corresponding New Bank
Not to be bound by an alteration made in
the memorandum of association/articles of
association after the date of becoming a
member, so far as the alteration requires
him to subscribe for more shares, or
increases his liability to contribute to the
share capital, or otherwise to pay money
to the company.
No corresponding provision.
38
To require a company to send within seven
days of the requisition, a copy of each of
the following documents as in force for the
time being: (a) the Memorandum of
Association; (b) the Articles of Association;
arid (c) every agreement and every
resolution referred to in section 192, if in
so far as they have not been embodied in
the memorandum or articles.
No corresponding provision.
39
To inspect the register of investments and
to petition the Central Government if the
inspection is refused.
No corresponding provision.
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Section of
Companies Act
Rights available to shareholders of a
company
Corresponding Provision* Rights available to
shareholders of a
Corresponding New Bank
Regulation 46: Service of
a notice or document to
shareholders
The Bank may serve a
notice or a document
on any shareholder
either personally, or by
ordinary post at his
registered address or if
he has no registered
address in India, at the
address, if any, within
India.
To be served with a document by the
company.
Regulation 46
53
To sue directors, promoters or persons who
have authorized the issue of the prospectus
for loss or damage suffered by reason of
any untrue statement included in the
prospectus.
No corresponding provision.
62
To avoid irregular allotment of shares/
debentures.
No corresponding provision.
71
To obtain repayment of the application
money/excess application money.
No corresponding provision.
73
Rights in relation to rights issue and
preferential allotment.
No corresponding provision.
81
To receive a share certificate and obtain a
duplicate if the original lost or damaged.
Regulations 14 and 15
84
Issue of Share Certificates.
Issue procedure of share
certificate and joint share
certificates, duplicate share
certificates detailed.
Voting rights at general meetings and on a
poll in proportion to the share of the paid-
up equity capital of the company.
Regulations 61 and 68
Sections 3(2BBA)(a)
and 3(2E)
Regulation 61: Voting at
general meetings
(i) At any general
meeting, a resolution
put to the vote of the
meeting shall, unless
a poll is demanded,
be decided on a show
of hands.
(ii) Save as otherwise
provided in the Act
every matter submitted
to a general meeting
shall be decided by a
majority of votes.
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