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May 26: A way might have paved for individuals punished for act against commercial value of becoming directors of banks and financial institutions (BFIs). The finance committee of Legislature-Parliament have recently endorsed such suggestion included in bills of BFIs submitted by MP Deepak Kuinkel.
The sub-section (J) Disqualification of Directors under section (18) of proposed main bill had the sentence “As per the prevailing law, less than five years since action taken by established regulatory body on the ground of act against commercial value and law.” But the sub-committee has removed the phrase “commercial value”. “Act against commercial value is also the act against judicial law,” says a legal practitioner , “However, there is still room for amendments in the bill as it has not been discussed in parliament.” He opined that if the bill gets approval as it is; chances of increase in banking instability is high. The approved bill submitted with suggestions under leadership of MP Kuinkel will be submitted in meeting of Parliament on May 26.
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'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '3610',
'hit' => '853'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
