Date: 2014-01-23Category: Extra OrdinaryState: Union GovernmentCountry: India
The Central Govt, on the recommendations of Reserve Bank of India, hereby declares that the provisions of Section 13 of the said Act, shall not apply to the ING Vysya Bank Ltd. in so far as they relate to the issue of equity shares to Qualified Institutional Buyers.
Executive Summary:
These notifications, issued by the Central Government on January 21, 2014, and based on recommendations from the Reserve Bank of India, declare exemptions from Section 13 of the Banking Regulation Act of 1949. These exemptions apply to specific banks regarding the issue of equity shares under various schemes, including Qualified Institutional Placements (QIPs) and preferential allotments. The notifications were published under the authority of the Government of India.
Key Points / Main Content:
Exemptions from Banking Regulation Act, Section 13:
* The Central Government declares that Section 13 of the Banking Regulation Act, 1949, will not apply to specific banks for particular equity share issuances.
Bank-Specific Exemptions:
* **ING Vysya Bank Ltd.:** Exempted for issuing 2,82,57,363 equity shares of Rs. 10 each to Qualified Institutional Buyers (QIBs) and preferential allotment to the promoter group, totaling Rs. 28,25,73,630 (S.O. 209 E).
* **Development Credit Bank Ltd.:** Exempted for the preferential allotment of 1,96,50,000 equity shares of Rs. 10 each, amounting to Rs. 19,65,00,000 (S.O. 210E).
* **Development Credit Bank Ltd.:** Exempted for issuing 2,06,41,388 equity shares of Rs. 10 each under Qualified Institutional Placement (QIP), totaling Rs. 20,64,13,880 (S.O. 211E).
* **Dhanlaxmi Bank Limited:** Exempted for issuing 2.10 crore equity shares of Rs. 10 each under Qualified Institutional Placement (QIP), totaling Rs. 21 crores (S.O. 212E).
* **IndusInd Bank Limited:** Exempted for issuing 5.21 crores equity shares of Rs. 10 each under Qualified Institutional Placement (QIP), totaling Rs. 52.10 crores (S.O. 213E).
* **South Indian Bank Limited:** Exempted for issuing 20 crore equity shares of Rs. 1 each under Qualified Institutional Placement (QIP), totaling Rs. 20 crores (S.O. 214E).
Impact Analysis:
ING Vysya Bank Ltd.:
* Impact: Allowed to proceed with the issue of equity shares to QIBs and preferential allotment to its promoter group without the restrictions of Section 13 of the Banking Regulation Act.
* Action Required: Proceed with the issuance and allotment as planned.
Development Credit Bank Ltd.:
* Impact: Allowed to proceed with the preferential allotment of equity shares and QIP issuance without the restrictions of Section 13 of the Banking Regulation Act.
* Action Required: Proceed with the allotment and issuance as planned.
Dhanlaxmi Bank Limited:
* Impact: Allowed to proceed with the issue of equity shares under QIP without the restrictions of Section 13 of the Banking Regulation Act.
* Action Required: Proceed with the QIP issuance as planned.
IndusInd Bank Limited:
* Impact: Allowed to proceed with the issue of equity shares under QIP without the restrictions of Section 13 of the Banking Regulation Act.
* Action Required: Proceed with the QIP issuance as planned.
South Indian Bank Limited:
* Impact: Allowed to proceed with the issue of equity shares under QIP without the restrictions of Section 13 of the Banking Regulation Act.
* Action Required: Proceed with the QIP issuance as planned.
Reserve Bank of India:
* Impact: Its recommendations were the basis for the Central Government's decision to grant these exemptions.
* Action Required: Monitor the issuances and allotments by the respective banks.
Central Government (Ministry of Finance):
* Impact: Executed the powers conferred by the Banking Regulation Act to grant exemptions.
* Action Required: Ensure compliance with the conditions of the exemptions.
Qualified Institutional Buyers (QIBs) and Promoter Groups (ING Vysya):
* Impact: QIBs and promoter groups can now receive equity shares from ING Vysya Bank Ltd.
* Action Required: Participate in the equity share issuance process as per the bank's offering.
Key Entities Referenced
Ministry of Finance: The Union Ministry of Finance of India, the department issuing the notification.
Department of Financial Services: A department under the Ministry of Finance.
New Delhi: The location of the notification, likely the office of the issuing department.
Banking Regulation Act, 1949: An act of the Parliament of India to regulate the Indian banking sector.
Central Government: The executive branch of the Government of India.
Reserve Bank of India: India's central bank, which provides recommendations to the Central Government.
ING Vysya Bank Ltd.: A bank to which certain provisions of the Banking Regulation Act, 1949 are declared not applicable with respect to equity share issuance.
Development Credit Bank Ltd.: A bank to which certain provisions of the Banking Regulation Act, 1949 are declared not applicable with respect to equity share issuance.
Dhanlaxmi Bank Limited: A bank to which certain provisions of the Banking Regulation Act, 1949 are declared not applicable with respect to equity share issuance.
IndusInd Bank Limited: A bank to which certain provisions of the Banking Regulation Act, 1949 are declared not applicable with respect to equity share issuance.
South Indian Bank Limited: A bank to which certain provisions of the Banking Regulation Act, 1949 are declared not applicable with respect to equity share issuance.
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No. 170] NEW DELHI, THURSDAY, JANUARY 23, 2014/MAGHA 3, 1935
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अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 21 जनवरी, 2014
ककककाााा....आआआआ....222200009999 ((((अअअअ))))....———— ब(cid:10)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:20) धारा 53 क(cid:20) उप धारा (1)
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[फा.सं. 16/5/2013- बी.ओ.II]
तीथ) राम, अवर सिचव
MINISTY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 21st January, 2014
S.O.209 (E) --In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation
Act, 1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares
that the provisions of Section 13 of the said Act, shall not apply to the ING Vysya Bank Ltd. in so far as they relate to
the issue of equity shares to Qualified Institutional Buyers (QIBs) and preferential allotment to promoter group of the
Bank for issue of 2,82,57,363 equity shares of Rs. 10 each amounting to Rs. 28,25,73,630.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.
311GI/2014 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 21 जनवरी, 2014
((((अअअअ))))....————
ककककाााा....आआआआ.... 222211110000 ब(cid:2)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:15) धारा 53 क(cid:15) उप-धारा
(1) (cid:18)ारा (cid:19)द(cid:21) शि(cid:23)य(cid:24) का (cid:19)योग करत े (cid:29)ए, के(cid:31) ीय सरकार, भारतीय #रजव % ब(cid:2)क क(cid:15) िसफा#रश पर, एत'ारा,
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नह4 ह(cid:24)ग,े जहा ं तक उनका संबंध 19,65,00,000 5पये क(cid:15) रािश के 10 - 10 5पये के 1,96,50,000 ई-7टी
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[फा.सं. 16/5/2013- बी.ओ.II]
तीथ% राम, अवर सिचव
NOTIFICATION
New Delhi, the 21st January, 2014
S.O. 210(E) -- In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation
Act, 1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares
that the provisions of Section 13 of the said Act, shall not apply to the Development Credit Bank Ltd. in so far as they
relate to the issue of Preferential allotment of equity shares of the Bank for issue of 1,96,50,000 equity shares of Rs. 10
each amounting to Rs.19,65,00,000.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई -द;ली, 21 जनवरी, 2014
((((अअअअ))))....————
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घोषणा करती ह ै -क उ.त अिधिनयम क(cid:15) धारा 13 के उपबंध डवे लपम1ट 3ेिडट ब(cid:2)क िल. पर उस सीमा तक लाग ू
नह4 ह(cid:24)ग,े जहां तक उनका सबं ंध 20,64,13,880 5पये क(cid:15) रािश के 10 – 10 5पये के 2,06,41,388 ई-7टी
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जाने स े ह ै ।
[फा.सं. 16/5/2013- बी.ओ.II]
तीथ% राम, अवर सिचव
NOTIFICATION
New Delhi, the 21st January, 2014
S.O. 211(E) -- In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation
Act, 1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares
that the provisions of Section 13 of the said Act, shall not apply to the Development Credit Bank Ltd. in so far as they
relate to the issue of equity shares under Qualified Institutional Placement (QIP) of the Bank for issue of 2,06,41,388
equity shares of Rs. 10 each amounting to Rs. 20,64,13,880.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई -द;ली, 21 जनवरी, 2014
222211112222((((अअअअ))))....————
ककककाााा....आआआआ.... ब(cid:2)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:15) धारा 53 क(cid:15) उप धारा
(1) (cid:18)ारा (cid:19)द(cid:21) शि(cid:23)य(cid:24) का (cid:19)योग करत े (cid:29)ए, के(cid:31) ीय सरकार, भारतीय #रजव % ब(cid:2)क क(cid:15) िसफा#रश पर, एत'ारा,
घोषणा करती ह ै -क उ.त अिधिनयम क(cid:15) धारा 13 के उपबंध धनल>म ी ब(cid:2)क िल. पर उस सीमा तक लागू नह4
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करने के िलए ब(cid:2)क के अहक% स<ं थ ागत <थ ान िनयोजन (.य आू ईपी) के तहत ई-7टी शेयर जारी -कए जाने स े ह ै ।
[फा.सं. 16/5/2013- बी.ओ.II]
तीथ% राम, अवर सिचव
NOTIFICATION
New Delhi, the 21st January, 2014
S.O. 212(E).—In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation
Act, 1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares
that the provisions of Section 13 of the said Act, shall not apply to the Dhanlaxmi Bank Limited in so far as they relate
to the issue of equity shares under Qualified Institutional Placement (QIP) of the Bank for issue of 2.10 crores equity
shares of Rs. 10 each amounting to Rs. 21 crores.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई -द;ली, 21 जनवरी, 2014
((((अअअअ))))....————
ककककाााा....आआआआ....222211113333 ब(cid:2)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:15) धारा 53 क(cid:15) उप धारा
(1) (cid:18)ारा (cid:19)द(cid:21) शि(cid:23)य(cid:24) का (cid:19)योग करत े (cid:29)ए, के(cid:31) ीय सरकार, भारतीय #रजव % ब(cid:2)क क(cid:15) िसफा#रश पर, एत'ारा,
घोषणा करती ह ै -क उ.त अिधिनयम क(cid:15) धारा 13 के उपबंध इंडसल(cid:2)ड ब(cid:2)क िलिमटेड पर उस सीमा तक लाग ू नह4
ह(cid:24)गे, जहां तक उनका संबंध 52.10 करोड़ 5पये क(cid:15) रािश के 10 – 10 5पये के 5.21 करोड़ ई-7टी शेयर जारी
करने के िलए ब(cid:2)क के अहक% स<ं थ ागत <थ ान िनयोजन (.य आू ईपी) के तहत ई-7टी शेयर जारी -कए जाने स े ह ै ।
[फा.सं. 16/5/2013- बी.ओ.II]
तीथ% राम, अवर सिचव
NOTIFICATION
New Delhi, the 21st January, 2014
S.O. 213(E). --In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation Act,
1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares that
the provisions of Section 13 of the said Act, shall not apply to the IndusInd Bank Limited in so far as they relate to the
issue of equity shares under Qualified Institutional Placement (QIP) of the Bank for issue of 5.21 crores equity shares
of Rs. 10 each amounting to Rs. 52.10 crores.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई -द;ली, 21 जनवरी, 2014
((((अअअअ))))....————
ककककाााा....आआआआ.... 222211114444 ब(cid:2)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:15) धारा 53 क(cid:15) उप धारा
(1) (cid:18)ारा (cid:19)द(cid:21) शि(cid:23)य(cid:24) का (cid:19)योग करत े (cid:29)ए, के(cid:31) ीय सरकार, भारतीय #रजव % ब(cid:2)क क(cid:15) िसफा#रश पर, एत'ारा,
घोषणा करती ह ै -क उ.त अिधिनयम क(cid:15) धारा 13 के उपबंध साउथ इंिडयन ब(cid:2)क िलिमटेड पर उस सीमा तक
लागू नह4 ह(cid:24)ग,े जहां तक उनका संबंध 20 करोड़ 5पये क(cid:15) रािश के 1 - 1 5पये के 20 करोड़ ई-7टी शेयर जारी
करने के िलए ब(cid:2)क के अहक% स<ं थ ागत <थ ान िनयोजन (.य आू ईपी) के तहत ई-7टी शेयर जारी -कए जाने स े ह ै ।
[फा.सं. 16/5/2013- बी.ओ.II]
तीथ% राम, अवर सिचव
NOTIFICATION
New Delhi, the 21st January, 2014
S.O. 214(E) --In exercise of powers conferred by sub-section (1) of Section 53 of the Banking Regulation
Act, 1949 (10 of 1949), the Central Government, on the recommendations of Reserve Bank of India, hereby declares
that the provisions of Section 13 of the said Act, shall not apply to the South Indian Bank Limited in so far as they
relate to the issue of equity shares under Qualified Institutional Placement (QIP) of the Bank for issue of 20 crore
equity shares of Rs. 1 each amounting to Rs. 20 crores.
[F.No.16/5/2013-BO.II]
TIRTH RAM, Under Secy.
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.