B. The total compensation to be given by the State Bank in respect of the transfer of the shares in the capital of the existing banks, other than the Bank of Patiala, to the persons (including any State Government) who, immediately before the appointed day, are registered as holders of shares in the books of each of these banks shall, in each case, be an amount equal to the value of the assets of that bank as on the day immediately proceeding the appointed day in relation to the corresponding new bank, computed in accordance with the provisions of Part I of this paragraph less the total amount of liabilities thereof computed in accordance with the provisions of Part II of this paragraph.
Chapter VIIIMIS — cellaneous
Section 1
A. The compensation to be given by the State Bank shall, in the case of the Hyderabad Bank, [or the Bank of Patiala] [Substituted for the words ", the Bank of Patiala or the Saurashtra Bank," by Act No. 48 of 2009], be an amount equal to the value of the assets of that bank as on the day immediately before the appointed day , computed in accordance with the provisions of Part I of this paragraph less the total amount of liabilities thereof computed in accordance with the provisions of Part II of this paragraph
Printed from Law on Tips • The State Bank of India (Subsidiary Banks) Act, 1959