MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 7th July, 2025.
S.O. 3018(E).—In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949) (hereinafter referred to as the said Act), the Central Government, on the recommendation of the Reserve Bank of India, hereby declare that the provisions of sub-section (2) of section 19 of the said Act shall not apply to the IDFC First Bank Limited, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of the paid-up capital of Niraj Kakad Constructions Private Limited.
2. This notification shall come into force on the date of its publication in the Official Gazette and shall cease to operate at the expiration of the 7th day of July, 2030, except as respects things done or omitted to be done before such cesser.
[F. No. 7/57/2019-BOA-I]
ASHISH MADHAORAO MORE, Jt. Secy.
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Notification No : F. No. 7/57/2019-BOA-IPublished in Income Tax
Source : https://egazette.gov.in/(S(rvo02ceb34yl2zm154ca2glc))/ViewPDF.aspx