Union Government, Extraordinary, 2013-01-01, Part II-Section 3-Sub-Section(ii), Ref. S.O. 1(E)

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by  Government of India

rego He ere sao EGD.NO.D.1-140299

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The Gazette of Gndia

EXIRADRDINARY
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PART HL Seetina —Selvsefion id
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PUBLISIED BY AUTHORITY

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MINISTRY OF FPSANCE,
Meparimentor Financia Services
NOTIFICATION
[Neve eth, the Is Jannaty, 203

5. 0. (6) — Whereas the Central Government, after consultation with the Nationaf Bank
for Agriculture and Rurel Development (NABARD), Government of Rajasthan and the
Central Bank of India, Bank of Baroda and Punjab National Bank being the Sponsor Banks
of Hadoti Kehetrya Gramin Bank, Bareds Rajasthan Gramin Bank and Rejasthan Gremin
Bank, is ofthe opinion that it fs necessary in the public interest and in the interest of the
development of the area served by the aforeseid Regional Rural Banks and aloe in the
intarastof the said Regional Rural Banks themselves, thatthe said Regional Rural Banks
should be amalgamated into a single Regional Rural Bank;

‘Now, therefore, in exercise of the powers conferred by sub-section (1) of section 238
of the Regional Rural Banks Act, 1976 (21 of 1976) {hereinafter referred to as “the Act’). the
Central Govemment hereby provides for the amalgamation of the said Regional Rural
Banks into a single Regional Rural Bank which shall come into effect on and from the date
of publication of this notification in the Official Gazette (hereinafter referred to as the

‘effective date of amalgamation’) with such constitution, property, powers, rights, interests,
authorities and privileges; and with such liabilities, duties and obligations as specified
hereunder:-

1. Hadoti Kshetriya Gramin Bank, Baroda Rajasthan Gramin Bank and Rajasthan Grarin
Sank, (hereinafter referred to as “the transferor Regional Rural Banks") sponsored by the
Central Bank of India, Bank of Baroda and Punjab National Bank in the State of Rajasthan
are hereby amalgamated into @ single Regional Rural Bank which shall be callad as
Baroda Rajasthan Kshetriya Gramin Bank (hereinafter roferted to as "the transieres
Regional Rural Bank") with its head office at Ajmer under the sponsorship of Bank of
Baroda.

2. Further, the Central Government, after consultation with National Bark far Agrioitture
and Rural Development and the Bank of Baroda being the sponsor bank of transferee
Regional Rural Banks and in exercise of powers conferred by proviso of Section 5 of the
4Ac\, increases the authorized capital of the transferee Regional Rural Bank to Rupees ten
crore divided into ten lakh number of fully paid shares of rupees one hundred each. The
Suoscribed share capital of the tansferee Regional Rural Bank shall be equal to the
subscribed share capital of transferor Regional Rural Banks and, therefore, the entire
subscribed share capital of the transferor Regional Rural Banks shall be deemed to have
been transferred to and shall be deemed as subscribed share capital of the transferee
Regional Rural Bank,

a4
6 TUR GAZETTE OF NOI bxtRAORDINARY Par Sac i]

3. The entire share capital and share capital deposit of the transferee Regional Rurat
Bank shall be as under:

Share Capital .
@_[Cenwal Government” Rupeas Tour hundred Tak,
8 State Government | Rbees one-hundred twenty lath; °
— e | Sponsor Bank Rupees two hundred eighty lakh!"
2 | Share Capital Depost’ | Rupee two hundred eighteen come eghiy three
| . lakn and seventy nine thousand.

4. From the effective date of amalgamation, the transferor Regional Rural Banks viz. -
Hadoti Kshetriya Gramin Bank, Baroda Rajasthan Gramin Bank and Rajasthan Gremin
Bank shall cease fo oamy on the business including that af making any payment ta any
depositors or discharge any liabilty or obligation to the creditors except tothe extent as
may be necessary for implementation of the provisions of the amalgamation as per this
notfication

5. From the effective date of amalgamation, the undertakings of the transferor Regional
Rural Banks shall be transferred to and shall vest in the transferee Regional Rurat Bank:

{@) The undertakings of the transferor Regional Rural Banks shall inolude all assets, rights,
powers, authorities and privileges and all property movable and immovable, cash
balancs, reserve funds, investments and all other sights and interest in of atising out of
such property. a8 are immediately before the commencement of this notification, in the
‘ownership, passession, power or control of the transferor Regional Rural Banks whether
within oF outside India and all books of accounts, ragisters, records and all other
documents of whatever nature relating thereto and shall also be deemed to include all
borrowings, abilities and abigatons of whatever kind then subsisting of the transferor
Regianal Rural Banks;

{b) All contracts, deeds. bonds, agreements. guarantees, powers of attorney, grants of
legal representation and ciher instruments of whatsoaver nature subsisting or having
effect immediately before the commencement of this notification and to which the
transferor Regional Rural Banks are a party or which ara in favour of the transferor
Regional Rural Banks shali be in full force and effect against or in favour of the
transferee Regional Rural Bank and may be enforced os acted upon as fully and
effectively as if in the place of the transferor Regional Rural Banks, the transferee
Regional Rural Bank has been a party thereto or as i they had been issued in favour of
the transferee Regional Rural Bank:

(6) If, on the effective date of amalgamation, any suit, appeal or other proceedings of
whatsoever nature in relation 10 ary business of the transferor Regional Rural Banks are
pending by, or against to, the transfe¢ar Regional Rurat Banks, the sama shall not abate,
be discontinued or be, in any way, prejudicialy affected by reason of the transfer of the
undertaking of the transferor Regional Rural Banks ov of anything cantained in this
Leu are 509] ane 1 a4: aA A

‘otfication but the suit, appeal or otter proceedings may be continued, prosecuted and
enforced by, or against, the transferee Regional Rural Bank:

(@) Any reference to the transferor Regional Rural Banks in any agreement, contract,
conveyance, assurance, power of attomey or any other dacument of whatsoever nature
shall be deemed to be a reference to the transferee Regional Rural Bank and the rights
land obligations of the transferor Regionat Rural Banks shall be deemed to be the rights
and obfigations of the transferee Regional Rural Bank.

& — {@)_In respect of every savings banks account or current account or any other
deposit account including a fixed deposit, cash cerificate, monthly deposit, deposit payable
at call or short notice or any ather deposits by whatever name called with the transferor
Regional Rural Bank, the transferee Regional Rural Bank shall open with itself on the
effective date of amalgamation a corresponding and similar account in the name of the
sespective hokder(s) thereof crediting thereto full amount including interest lo the extent
payable:

Provided that whete the transferee Regional Rural Bank enteriaing a reasonable
doubt about the cortecinass of the entries made in any particular account, may with the
approval ofthe Sponsor Rank withhold the credit to be made in that aecount for a period fot
‘exceeding three months from the effective date of amalgamation within which the transferee
bbank shall ascertain the correct balance in such accourt.

(b) In tespect of every other labitty, notwithstanding anything contained in the Transfer
cf Property Act, 1882 or the Registration Act, 1908, thit notfication shal bo sufiient
conveyance, in accordance with the provisions of this noification, of the business,
properties, assets and lables, sights, interests, powers, privileges, benefits and
obligations of whatever nature of the transferor Regional Rufal Banks ta the traneferee
Regional Rural Bank,

7. (a) The service of all tha employees of the transferor Regional Rural Banks (excepting
Such of them as not being workmen within the mesning of the Industrial Disputes Act, 1947)
shall continue in the transferee Regional Rural Bank at the same remuneration andl on the
‘same terms and conditions af service, which thay were getting or, as tha case may be, by
which they were governed immediately before the eflective date of amalgamation,

ib) The inter-se-senioniy of officers and employees, directly recruited or promoted. to be
Uecided by the Commitiae representing the sponsor bank and the Nafionab Bank for
Agriculture and Rural Development,

8. The transferee Regional Rural Bank shall have the pawer to post the employees in the
interest of the bank and the public as a whole anywhere in the entire area af operation of
the transferee Regional Rural Bank,
q TU GAZEN“E OF IDNA : EXTRAGRDINARY Ie Sa 50)

9, The area of operation of the transferee Regional Ruta Bank shall be the combined aiea
of operation of the transferor Regional Rural Banks viz. Hadoti Kshetriya Gramin Bank.
Barada Rajasthan Gramin Back and Rajasthan Gramin Bank in the Districts of Kota
Baran. Jhalawar. Bhilwara, Banswara, Dungarpur Chittorgarh, Pratapgach, Ajmer, Bund
Tonk, Sawaimadhopur, Karauli, Dausa, Churu, Bikaner, Alwar, Bharatpur, Dholpur,
JShunjhunu and Sikar in the State of Rajasthan,

10. Unless otherwise expressly pravided in this notification, the provisions of the Act shall
have the same effect on the trarsferee Regronal Rural Bank 9 if it as been established
under sub-section (4) of sect on 3 of the Act,

IFN, 29/9011-RRB (Rajasthan
UMESH KUMAR. I. Sey.

ney awit Foy