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Ra aera otfiagqear > ere 87 & a fon Ter, Fe afer Bs sor a Stef Verda sees dep re Sar vers Seer Pr ae aafaET BH O59 3B STEHT C1) ait aati Ta: 10. nok pe maens A ware aaa = ake ae wise aor ae 2 at Roni aa ate ah Oe as Soh ad epee Papas si sees ST, MINISTRY OF FINANCE ‘(Dspartment of Foonantie Affairs) (RANKING DIVISION) NOTIFICATION ‘New Delhi the 12h Jamu, 2008 0. 37€E)— Whereas the Centcal Government, afer consuitation withthe National Bank for Agriculture sand Rural Development (NARARD), Government of Assara and the United Bank of India being the Sponsot Bank of Cachar Gramin Sank, Lakdumi Gaonlia Bank: Pragiyotish Gaonfia Bank and Subansii Gaonlia Bank Reyional Rural Banks), is ofthe opinion tht i is necassary fn the public anterest and i tbe iteest of the development of the aea served by the aforewid Regional Rural Banks and also in the intcest of te sai8 Regional Rural Banks themselves, Gat the said. Regional Rural Banks should be amalgamated nto single Regional Rural Bank, ‘Now, terefire, in exercise: of the powers conferred by dub-veotion (2) of section 23A of the Regiotal Rural Banks Aci. 1976 (21 of 1976) hereinafter referred Wy as “the Act", tha Cental Goveruinent hereby provides for the amalgamation of thy syid Regional Rural Banks ing. single Repional Rural Bank which shall come into etfoct on and from the dale of publicatign of chis notification ir the Officlal Gazerie ( bercinafterrefertod to as the “effective date of amalagoxslion") ‘pith such conalitition, property, posers righis, interests, authorities and privileges; and auith such liabilities, dul and obligations as specified bercumder:- {Tie CachaF Gratin Hank, ‘akhimi Gaonlia Bank, Progiyotish Gaonh Bank and Subansirt Gaunlia Bank Qhreinaicr refered to a8 “Ybo transferor Rogioaal Rural Banks") sponsored by the United Bank of Tia in th Stae of Assam are beceby amalgamated ino a single Regional Rural Bank abich stall be called as Assam Gramin Vikash Baw (Rereiaafier refered 10 a8 “ihe transferee Regional Rural Bank”) with its head office al Gasabat 2, The anthonse eal oft trafeee Regia! Rural Bk sal be rupees fie orore died to Five tach umber OF ful pale bares af pes one hundfoeacy The eubsered sary capital ef the rruusece Regal Kur Bak tll be egal (othe subsided share capa Of csr gional Rural Banks te, terete, the etre sbueribed stare apa the trnserot Regonat Real banks shal be dosnol io have beontunsfted lo and stall be decmed 4s subsethed sare capita Of the teanefrey Reyinat Rural Bunk Tho oni share capi and share eal depesit oF the eransicee Reafons! Rural Bak sll be as under (3) Central Goverament Rupees Two invaded lakh @) Stare Government Runes sixty lakh, (©) Sporsor Bank ‘Rupwes ono funded and forty likk, and 4€) Share Capital Deposit: Rupoes seventy tee crore eweaty anc lakh and twenty seven theusuad. 3 Frown the offitive date oF amalgamation the traraferor Regivnal Rural Baaks viz. Cachar Cramin Hank, Lakhimi Gaontia Bank, Pragiyotish Gaonlia Bank and Subansii Caonlia Bank shall ceascto cary on the business including thal of making any payment Lo any depositors or dicharge any Tiebilty or obligation te the croditors excopt to. the extent as may be necassary for iruptementaion of the no visions ofthe amalgamation as per thd notification, BE Ge te 1H GALE TSU NDIA EXTRAOHDENALY Bonet Sve 40 malgamation, the uiderakiugs of ce wanseror Regional Rural {hans shall he waesfemed 0 ard shal wet He tarsferee Regioual Rub Bank | (in| Tee undenakiags of the uapneror Regional Rucal Banks sll include alt ase, rights, ver, authors and prtviepes aed lh etogenty owable avd immovable cash balance serve funds, iavescments are all ke ls and interea in oc aiing out cf wach propery, 26 fe immedistely before the corsmenceront ofthis notation, inthe oxmership, possesion ___qbwerorconrel ofthe transferor Kegional Rural Banks whelher within or outside india avd all books of accuunts, rites, records and all other documents of whatever nature relating fMereo and stall also be deemed to include all boronings, lables and obligations of sahatever hind then subsisting ofthe wansferar Regional ural Barks, Gi] All contracts, deeds, bonds, ngreernents, guarantees, powers af attbmey, grants of legal presentation and other instruments af whatsoever nature subsisting or having cffect mediately before the commencement of Ikisnotficariou and to which the unnsferor Regional ral Banks sre party oF which are in favaur of the wansferor Regional Rural Barks shall be fall force and effect against or in favour of the transleree Regional Rutal Bank and may be {forced or acted pon as fully and offecivcly as.if in the place of the transferor Rewioual ral Banks, the transferee Regicual Rural Bank has buen a panty dereto pr as if they had been ‘shud in favour ofthe transferev RegioualRoral Bank; ne | cote sic dealin ays, pote se pce of wane Re oanerninbebarcaeeptceue ner iomnn ind senerier nated peer ed cee pet ee eerie see Ed cee eee alte a cdie rrabralte cucu oles tai sea Aha cpa ticgenttca te nina rie orate seat ee eed a ans were (6) fing reference to te transferor Regional Rural Banks in any agreement, contract, cooveyance, axfuranee, power of attomey or any other dacument of whatsoever nature shall be deemed tobe ajreterence to the transfetec Regional Rural Bank and the rights and obligations of the | tpnsferor Regional Rural Banks shall be deemed t» be the -ights end obligations of the trknsferee Regional Rural Back in respect of every savings banks eecount oF curreat accouot or sy othr deposit account ‘ocliding 4 fixed deposit, cash cettificats, mostly. depos, deposit payable call 0° short raise oF any other deposits by whatever name called with the ansfevor Regional Kurai Ban, «Ub transferee Regional Rural Bank shall unen with itself on the effective date of amatgemation a forresponding and similar accouu: «a the aame of the respective hlder(s) thereat erediting feta full amount including iouest 49 Ube een payable i Dipvided that ware the transferee Regiona: Rural Bank entenais a reassnable doubt abou the |, srsctoss of the eres made in any particular accout, kay with the approval of the Siponsor Bank vsthuotd the eredt to be auade in that acoauni for a periad nod exceeding *hoee pathy from the cflective date of amulganetion within which the transferee bauk shall asgettain the comrect ba‘ance in sues aecout | ip fo vexpect of every over labiy, notitheanding ameting comaited inthe Trager of LU" bpeny Act, HAE or the Registration Act 1908, tas aoifcatios shall be sficien, ccfyance, in ascrsance wit te grovnons Of ie noceton ote Base rope 1 air : T assets and Tabilites, rights, interests, powers, privileges, benefits and obligations of whatever ‘eanire'of the transferor Regional Rural Banks to the wansoree Regional Roral Baok 6, The service ofall the employees of the transferor Regional Rural Banks (excepting such of them as not being workmen within the meaning of the industrial Disputes ‘Act, 1947 } shall eontime in the ‘rarsferee Regional Rural Bank at the séme remuneration and on the same terms and conditions of service, which they were getting of, ad the case may he, by which they were yoverned immediately before the effective date of amalgamation, ‘The inter-se-seniority of officers aad employens, directly, reeniited and / or promoted, 0 Be doclded by she Committee representing the sponsor bank and the ‘Naignal Bank for Agricuitre and Rural Development 1, The tranateree Regionat Rural Baak shall have the posver to post the employees inthe interest of the dank and the public 45 a whole anywhere in the entire area of operation of the transferee Regional Rural Bank, 8 Therea of opention ofthe transferee Regional Rural Sask shall be the combined area of operation of the transferor Regional Kura! Banks via, Cachar Gramin Bank, LaKhimi Gaonlia Bank, Propiyotish Caonlia Bank and Subansiti Gaonlia Bank in Nalbwr, Kemmp, Kanmp {(Metopoian), Darrang, Barpeta, Sonitper, Divbsi, Goalpara, Kolasfar, Bongaigaon, Chirangs, ‘Baksn, Udeluur, Sivasagar, Jorhat, Golaghet, Nagaon, Morignon, Lakhimpus, Dhemai, Dibrogh, ‘insuig, Cachar, Haifabandi and Karimganj Districts ofthe State of Assam. 98. Unless otherwise expresly provided in tis notification, the provisions of the Act abel have 1h sume effet on the transferee Regional Rural Bank as if thas been established under sub-section (1) of. section 3 of the Act 10 if ary diieulty aises in giving effect to the provisions of this notification, the Cental Goverment may make such order, not inconsistot with th provisions ofthe Act, an my appear to it tobe necessary for the purpose ol removing such dificult. Fhe. 12005 PO G.C.CRATURVERE RS, “al ld ee Coa af ewan elias