India Account Aggregator Framework (RBI)
Chapter IV: Corporate governance and change of control – India Account Aggregator Framework (RBI)

India Account Aggregator Framework (RBI) 50: Para 50: prior RBI approval for change of control, shareholding and management

What does 50 require?

Prior written permission of the Reserve Bank is required for any takeover or acquisition of control or shareholding change within paragraphs 6(1) and 6(2) of the Acquisition of Shareholding or Control Directions, any shareholding change giving the acquirer a right to nominate a director, and any change in directors or management within paragraph 10 of the Governance Directions; applications follow paragraph 7 of the former and paragraph 11 of the latter (paragraph 51).

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