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State Bank of India Act, 1955

9. Compensation to be given to share-holders of Imperial Bank

(1) Every person who immediately before the appointed day is registered as a holder of shares in the Imperial Bank shall be entitled to compensation in accordance with the provisions contained in the first Schedule.

(2) Nothing contained in sub-section (1) shall affect the rights inter se between the holder of any share in the Imperial Bank and any other person who May gave an interest in such share, and such other person shall be entitled to enforce his interest against the compensation awarded to the holder of such share, but bot against the Reserve Bank.

State Bank of India Act, 1955 Back

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