Declaration of non-application of Section 13 of the Banking Regulation Act, 1949 to the ING Vysya Bank Ltd ( relating 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) , Development Credit Bank Ltd (relating 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 and 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)
No: 170 Dated: Jan, 23 2014
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