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<ul><li>The petition was taken up by a bench of Chief Justice Indrajit Mahanty and Justice Prakash Gupta on Friday and arguments were heard on Monday till evening.</li><li>The hearing will resume at 10:30 am. The Congress Legislature Party (CLP) is also scheduled to meet at 11 am.</li><li>The dissident MLAs had moved the court on Friday amid the infighting in the state unit of the Congress, as Chief Minister Ashok Gehlot and his now sacked deputy Pilot tussled for power. </li></ul>The <keyword id="49015" type="ORGANIZATION" weightage="20" keywordseo="Rajasthan-High-Court">Rajasthan High Court</keyword> is likely to pronounce its order on Tuesday on a writ petition filed by <keyword id="71345" type="PERSON" weightage="20" keywordseo="Sachin-Pilot">Sachin Pilot</keyword> and 18 other dissident Congress MLAs, challenging the disqualification notices issued to them by the state assembly speaker. The petition was taken up by a bench of Chief Justice Indrajit Mahanty and Justice Prakash Gupta on Friday and arguments were heard on Monday till evening. The hearing will resume at 10:30 am. The Congress Legislature Party (CLP) is also scheduled to meet at 11 am. The dissident MLAs had moved the court on Friday amid the infighting in the state unit of the Congress, as Chief Minister Ashok Gehlot and his now sacked deputy Pilot tussled for power. Counsel for the speaker Abhishek Singhvi on Monday argued that the petition was premature as a decision was yet to be taken on disqualifying the MLAs from the House. There is no scope for interference by a court over the show-cause notices issued by the speaker, he had said. The speaker is supreme as far as the legislative assembly is concerned and the notices have been issued within the purview of the speaker's power, Singhvi had said. A lawyer appearing for the speaker had told reporters that the chief justice asked is the speaker bound to issue a notice on a petition seeking disqualification of such a nature without recording any reason. Singhvi had argued that there was no requirement to record reasons as it was merely a show-cause notice. The notices to the MLAs were served after the party complained to the speaker that the lawmakers had defied a whip to attend two CLP meetings last week on Monday and Tuesday. The Pilot camp, however, argues that a party whip applies only when the assembly is in session. In its complaint to the speaker, the Congress had sought action against Pilot and the other dissidents under paragraph 2(1)(a) of the 10th Schedule of the Constitution. The provision disqualifies MLAs if they "voluntarily" give up the membership of the party that they represent in the House. Pilot was sacked as the Rajasthan deputy chief minister and the president of the state Congress unit after he rebelled against Gehlot. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and Astrazeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

Rajasthan High Court to pronounce order on the petition filed by Sachin Pilot and 18 other rebel Congress MLAs today

<ul><li><keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP)’s Om Birla is nominated to become the 17th Lok Sabha Speaker. </li><li>The 57 year old Birla, was once a key leader of the Bhartiya Janata Yuva Morcha and reportedly has close ties with <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword>. </li></ul>Om Birla, who was nomiated by Bharatiya Janata Party (BJP) yesterday is elected as the 17th Lok Sabha Speaker. He is going to succeed 76-year-old Sumitra Mahajan — the 16th Lok Sabha Speaker who did not contest the elections this time. However, there is no official announcement yet. Om Birla’s wife congratulated him by saying this was a proud moment for the family. <keyword id="513880" type="PERSON" weightage="20" keywordseo="Pinaki-Misra">Pinaki Misra</keyword>, the Biju Janata Dal’s parliamentary party leader in the Lok Sabha, said that his party, although not a member of the National Democratic Alliance (NDA), had decided to support Birla. "The BJP, which has a clear majority in the Lok Sabha, has nominated Om Birla for the post of the Lok Sabha Speaker and sought our support for him. Since we have always had constructive cooperation with the Centre, we will support the proposal," said Mishra. The 57 year old Birla, was once a key leader of the Bhartiya Janata Yuva Morcha and reportedly has close ties with Amit Shah. He also played a significant role in BJP-led Ram Janmabhoomi movement in the 1990s. The decision to nominate Birla came soon after JP Nadda took the place as working BJP yuva president. Birla has worked closely with Nadda too. Om Birla worked as a Vice-President of BJP youth wing when Nadda was serving as the president of the same. Om Birla, who has been contesting as an MLA from Kota, kept winning from 2003 to 2014. He represented the Kota-Bundi Lok Sabha constituency. He<a href="https://www.indiatoday.in/india/story/om-birla-won-t-be-first-two-time-mp-to-be-elected-as-lok-sabha-speaker-1551010-2019-06-18"> reportedly</a> had a case registered against him in 2018 during his entire political career. He was accused of accumulating assets disproportionate to his income. The <keyword id="49015" type="ORGANIZATION" weightage="20" keywordseo="Rajasthan-High-Court">Rajasthan High Court</keyword> dismissed the case in 2019.

Meet Om Birla,India’s newly elected Lok Sabha speaker

Superstar <keyword id="6354583" type="UNKNOWN" weightage="20" keywordseo="salman-khan">Salman Khan</keyword> has (finally) been convicted of poaching two blackbucks back in 1998. A <keyword id="6357685" type="LOCATION" weightage="20" keywordseo="jodhpur">Jodhpur</keyword> trial court sentenced the actor to five years in jail and a fine of Rs 10,000. However, all the co-accused -- <keyword id="333" type="PERSON" weightage="20" keywordseo="Saif-Ali-Khan">Saif Ali Khan</keyword>, <keyword id="6380080" type="UNKNOWN" weightage="20" keywordseo="sonali-bendre">Sonali Bendre</keyword>, Neelam and <keyword id="6358125" type="PERSON" weightage="20" keywordseo="Tabu">Tabu</keyword> -- have been acquitted. The actors were shooting of the movie Hum Saath Saath Hain in Kankani village near Jodhpur. Witnesses from the unwavering <keyword id="69006" type="LOCATION" weightage="20" keywordseo="bishnoi">Bishnoi</keyword> community saw the actor shoot the protected species of the rare antelope on the intervening night of 1st and 2nd October, 1998. They even jotted down the number plate of the jeep they were on. Later a case was filed by the Bishnoi community who worship the animal. (This is the <a href="https://economictimes.indiatimes.com/magazines/panache/how-a-committed-and-inspired-bishnoi-community-did-salman-khan-in/articleshow/63625066.cms">same community that was the inspiration behind the Chipko movement</a>.) The main witness, Poonamchand Bishnoi, said he saw the actor shoot the <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">blackbuck</keyword> while his co-stars egged him on. However, Salman claims the animal died of ‘natural causes’ and that he is being ‘framed’. This is not the only case of poaching against the actor. He has also been accused of killing a couple of chinkaras (a gazelle species) and a blackbuck in September of 1998 by the very same community. Here’s a timeline of accusations and acquittals. 26 September 1998: Mr Khan is accused of <a href="http://indianexpress.com/article/india/salman-khan-convicted-in-blackbuck-poaching-case-a-timeline-5124186/">shooting two chinkaras</a> at <keyword id="6404940" type="LOCATION" weightage="20" keywordseo="bhawad-village">Bhawad village</keyword> near Jodhpur. 28 September 1998: Salman Khan allegedly hunted two more chinkara near Ghoda Farm area in Osian region of Jodhpur. 2 October 1998: A police complaint was lodged against the five actors -- Salman Khan, Saif Ali Khan, Sonali Bendre, Neelam and Tabu -- by the Bishnoi community. 12 October 1998: Salman Khan is arrested, only to be granted bail and released 5 days later. 17 February 2006: Salman Khan is convicted by a trail court under the Wildlife Act and sentenced to one year in jail for poaching a chinkara at Bhavad village in September 1998. This is overturned after an appeal. 10 April 2006: A trial court convicted Salman Khan in the blackbuck case under the Wildlife Protection Act and sentenced him to <a href="https://economictimes.indiatimes.com/magazines/panache/1998-2016-a-timeline-of-the-blackbuck-killing-case/articleshow/53377957.cms">five years in jail, alongside a fine of Rs 25,000</a>. However, he spent less than a week in jail before getting bail. 24 August 2007: The Session Court upheld the conviction doled out in April 2006 and dismissed Salman Khan’s appeal. 31 August 2007: The Rajasthan High Court sentences the actor to five years in prison and then suspends the same on appeal after a week - the actor spent a week in jail. He was, however, ordered to not leave the country without permission. The High Court later dropped the charges levied against the actor under the Arms Act. December 2012: The Rajasthan High Court revised the charges against the actor and levied fresh charges against him under <a href="http://www.newindianexpress.com/nation/2017/jan/18/all-you-need-to-know-about-the-black-buck-case-1560878.html" data-type="tilCustomLink">Section 9/51 of the Wildlife Protection Act</a> - hunting or poaching of the protected blackbuck species is a punishable offence under the law. 12 November 2013: The Rajasthan High Court suspends the five-year sentence given in April 2006. 25 July 2016: The Rajasthan High Court <a href="https://economictimes.indiatimes.com/magazines/panache/1998-2016-a-timeline-of-the-blackbuck-killing-case/articleshow/53377957.cms">acquits Salman Khan in the 1998 chinkara and blackbuck poaching case</a>, claiming lack of evidence that the animals were shot by the actor’s licensed gun. 11 November 2016: The Rajasthan Government’s plea challenging his acquittal in the blackbuck poaching case and to fast-track the case is approved by the Supreme Court. Salman Khan is issued a notice. 18 January 2017: A Jodhpur <a href="https://www.firstpost.com/entertainment/salman-khan-acquitted-in-arms-act-case-by-jodhpur-court-but-his-legal-troubles-are-far-from-over-3209118.html">court acquits Khan</a> in the Arms Act Case wherein he was charged with possessing weapons with an expired licence while hunting the animals. 28 March 2018: Final arguments of the case were completed in the trial court. April 5, 2018: A Jodhpur court convicts Khan to serve a 5-year jail term and pay Rs 10,000 penalty. In the meanwhile, Khan has made myriad movies while the various trials were on, becoming one of the biggest celebrities in the country. According to Forbes, Khan’s net pre-tax earnings in 2017 amount to $37 million, earning him a spot on the publication’s 2017 Celebrity 100 List of World’s Highest Earning Entertainers.

Timeline: How it took 20 years to convict Salman Khan in the blackbuck poaching case

<ul><li>The <keyword id="6356515" type="UNKNOWN" weightage="20" keywordseo="bahujan-samaj-party">Bahujan Samaj Party</keyword> (BSP) has issued a whip to its erstwhile MLAs to vote against the Ashok Gehlot government in Rajasthan in case a floor test is held during the Assembly session that will begin on Friday.</li><li>The six BSP MLAs had merged with the <keyword id="9656996" type="UNKNOWN" weightage="20" keywordseo="congress-last-year">Congress last year</keyword>. The BSP has termed it illegal. </li><li>The whip has been issued by party General Secretary Satish Chandra Mishra.</li></ul> The Bahujan Samaj Party (BSP) has issued a whip to its erstwhile MLAs to vote against the Ashok Gehlot government in Rajasthan in case a floor test is held during the Assembly session that will begin on Friday. The six BSP MLAs had merged with the Congress last year. The BSP has termed it illegal. The whip has been issued by party General Secretary Satish Chandra Mishra. He has directed the six MLAs to vote as per the whip issued under section 2(1)(a) of the Tenth schedule or face disqualification proceeding under 2(1)(b) of the tenth schedule. The matter also came up before the Supreme Court but did not pass any order since the matter was already pending before the <keyword id="49015" type="ORGANIZATION" weightage="20" keywordseo="Rajasthan-High-Court">Rajasthan High Court</keyword>. The petitioner in the court contended that the Assembly elections were held in Rajasthan on December 7, 2018 in which the six MLAs were elected on tickets issued by the BSP. The six MLAs -- Sandeep Yadav, Wajib Ali, Deepchand Kheria, Lakhan Meena, Jogendra Awana and Rajendra Gudha -- later defected to the Congress in September 2019. After the truce with Sachin Pilot, the Congress government is safe in numbers as the party has more than the required majority. At <keyword id="9428604" type="COMPANY" weightage="20" keywordseo="the-congress-legislative-party">the Congress Legislative Party</keyword> (CLP) meeting, the two camps shook hands in the presence of the party observers. The two leaders Ashok Gehlot and Sachin Pilot met before the CLP meeting in Gehlot's house. At the meeting, Gehlot gave a call to forget the past, saying, "'Apne tau apne hote hain'. We could have proved majority on the floor of the House even without these 19 MLAs, but then there would have been no happiness around." Gehlot further said, "We will move the confidence motion ourselves. We shall also resolve the grievances of our MLAs who are annoyed with us." The BJP on Thursday announced that it will move a no-confidence motion against the Gehlot government when the special Assembly session commences. SEE ALSO: <a href="https://www.businessinsider.in/india/news/heres-how-indias-74th-independence-day-celebrations-will-take-place-this-year/slidelist/77523536.cms">Here’s how India’s 74th Independence Day celebrations will take place this year</a> <a href="https://www.businessinsider.in/careers/news/how-much-deloitte-kpmg-ey-and-pwc-accountants-and-consultants-make-from-entry-level-to-executive-roles/articleshow/77533447.cms">How much Deloitte, KPMG, EY, and PwC accountants and consultants make, from entry level to executive roles</a> <a href="https://www.businessinsider.in/science/news/a-dwarf-planet-between-mars-and-jupiter-has-a-salty-ocean-beneath-its-surface-making-it-a-contender-for-alien-life/articleshow/77495476.cms">A dwarf planet between Mars and Jupiter has a salty ocean beneath its surface, making it a contender for alien life</a>

Bahujan Samaj Party issues whip to 6 defector MLAs in Rajasthan

<ul><li>As many as 100 district courts in India lack ‘She’ toilets. </li><li>And merely 40% washrooms are entirely operational across 555 district courts. </li><li>The court complexes are short of security systems as well. Only 11% of the courts have a baggage scanning facility. </li><li>The Indian government has spent nearly ₹70 million to refine court complexes.</li></ul>As many as 100 district courts in India lack ‘She’ toilets. And those who have toilets aren’t doing much better either. Across 555 other district courts, merely 40% of the washrooms are operational, shows a<a href="https://timesofindia.indiatimes.com/india/no-toilet-for-women-in-15-of-district-courts-study/articleshow/70490426.cms?from=mdr"> survey conducted</a> by legal think-tank reforms Vidhi. The states of Goa, Mizoram, Jharkhand and Uttar Pradesh have the least number of operational washrooms. This is despite the government’s ‘<keyword id="2517872" type="PERSON" weightage="20" keywordseo="Swachh-Bharat-Abhiyan">Swachh Bharat Abhiyan</keyword>’ which spent nearly ₹70 million to refine court complexes. Locked Bathrooms Last month, Indian Express reported on the unavailability of washrooms for women advocates. The report titled <a href="http://www.newindianexpress.com/states/tamil-nadu/2019/jul/20/woman-lawyers-get-toilet-in-court-complex-2006555.html">‘Women advocates get a raw deal</a>’ revealed that the staff toilets were locked mostly and women needed permission to use them. In fact, most of the <keyword id="6371750" type="UNKNOWN" weightage="20" keywordseo="district-court">district court</keyword>s also lack vital facilities including bank branch, canteen and post office. Only half of the district court complexes have waiting areas. “Despite being a basic requirement, only 54% or 361 district court complexes had designated waiting areas,” TOI reported citing the findings from the survey. In addition to this, the court complexes are short of security systems as well. Merely 11% of the courts have a baggage scanning facility in place while a third of them have no fire extinguishers. And, half of them do not have emergency exit signs. The survey paints a grim picture of the condition of Indian district courts. According to<a href="https://www.livelaw.in/news-updates/rajasthan-hc-improve-court-conditions-cj-inspection-146341"> LiveLaw</a>, the Rajasthan High Court has directed to improve the condition of courts to ensure basic hygiene and cleanliness. The survey included 6,650 respondents from the total 655 district court complexes across the country. See also: <a href="https://www.businessinsider.in/miscellaneous/we-went-shopping-at-bed-bath-beyond-and-saw-why-the-company-is-plotting-a-turnaround/slidelist/70368848.cms">We went shopping at Bed Bath &amp; Beyond and saw why the company is plotting a turnaround</a>

In Indian courts, ‘She’ toilets are either missing, unoperational or locked

<ul><li><keyword id="12587" type="PERSON" weightage="20" keywordseo="Priyanka-Gandhi">Priyanka Gandhi</keyword> Vadra marks her entry into politics by joining <keyword id="6362140" type="UNKNOWN" weightage="20" keywordseo="All-India-Congress-Committee">All India Congress Committee</keyword> as general secretary. </li><li>She will campaign in Uttar Pradesh East which includes Narendra Modi’s constituency Varanasi and Yogi Adityanath's constituency in Gorakhpur </li><li>Her entry into politics is expected to add vigour to <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword>' recovering cadre, which had a demoralising defeat in 2014. </li></ul>Priyanka Gandhi Vadra has been appointed as the general secretary at All India Congress Committee, marking her formal entry into politics. According to an official statement, Vadra will be general secretary for Uttar Pradesh East, taking charge in the first week of February. Jyotiraditya Scindia will head Western UP. Uttar Pradesh is the largest state in India by population and has the most number of seats in the Parliament. Uttar Pradesh East includes the constituencies of Varanasi, which is the constituency represented by the current Prime Minister Narendra Modi, and also Gorakhpur, which belongs to the state’s incumbent chief minister Yogi Adityanath who is also a strongman from the Bharatiya Janata Party (BJP). Her strengths Priyanka Gandhi, 47, is the daughter of former Indian prime minister Rajiv Gandhi, and the granddaughter of Indira Gandhi. In the past, she was mostly seen supporting brother <keyword id="5268" type="PERSON" weightage="20" keywordseo="Rahul-Gandhi">Rahul Gandhi</keyword> in campaigning efforts, but stayed away from actively participating in politics. She might entering active politics just now but Priyanka has been under the media spotlight over the years. Her official foray into politics has been speculated about for a long time, more so around elections. She carries political weight at least in constituencies which are considered to be the Gandhi family bastions. Her entry into politics is expected to add vigour to Congress, recovering cadre, which had a demoralising defeat in 2014. The incumbent United Progressive Alliance (UPA) led by the Congress was routed out, and the grand old party itself was left with 44 seats in the Lok Sabha, the lower house of the Parliament. 
 
 
 
 
 
 
 
 
 
 
 
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 Priyanka's focus on eastern Uttar Pradesh (UP)-- aside from the appointment of another party heavyweight Jyotiraditya Scindia's focus on western part of the same province-- also signals the party's focus on a state that is politically significant than most others and currently in the grasp of rival BJP. Her weak point The Gandhi scion is no stranger to controversies either. The Central Bureau of Investigation had <a href="https://economictimes.indiatimes.com/news/politics-and-nation/cbi-registers-18-cases-of-fraud-against-company-linked-to-robert-vadra/articleshow/60299238.cms">filed </a>18 cases against <keyword id="12593" type="PERSON" weightage="20" keywordseo="Robert-Vadra">Robert Vadra</keyword> for alleged fraud in land acquisition, and the Enforcement Directorate is probing Vadra’s firms for alleged money laundering. On Monday (january 21), the Rajasthan high court <a href="https://timesofindia.indiatimes.com/india/hc-asks-robert-vadra-mom-to-appear-before-ed/articleshow/67633162.cms">asked</a> Robert Vadra and his partners in Skyline Hospitality Limited, including his mother Maureen Vadra, to appear before the Enforcement Directorate on February 12 to respond to allegations of money laundering by the firm. The allegation around her husband, Robert Vadra, and his businesses are likely to raked up now more so than ever before by rivals.

Priyanka Gandhi Vadra enters active politics and will take on Modi and Yogi on their home turf

New Delhi, Mar 5 () With the March-end deadline for the biggest-ever amalgamation scheme is approaching, eight state-owned banks on Thursday announced swap ratios for the proposed mergers. Punjab National Bank (PNB) in a regulatory filing announced the share exchange ratio in accordance with the scheme of amalgamation, as it is set to merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) into itself with effect from April 1. PNB's board in its meeting on Thursday has approved for amalgamation of OBC and UBI, Punjab National Bank said in a BSE filing. According to the swap ratio, 1,150 equity shares of PNB are to be exchanged for every 1,000 equity shares of Oriental Bank of Commerce, while 121 equity shares of PNB are to be swapped for every 1,000 equity shares of UBI. A Grievance Redressal Committee headed by Vijay Kumar Vyas, retired judge of Rajasthan High Court, has been set up to address the grievances of shareholders. The committee is intended to address those shareholders who either individually or collectively hold at least 1 per cent of the equity capital of any of PNB, OBC or UBI; or 100 shareholders acting collectively, of any of PNB, OBC or UBI. "The board of directors of the bank...have fixed Wednesday, March 25, 2020, as record date for issuing and allotting equity shares of the PNB to the shareholders of OBC and UBI as per the share exchange ratio," PNB said in the filing. Meanwhile, Andhra Bank on Thursday also announced the swap ratio for its merger, it said in a filing. Andhra Bank and Corporation Bank are to be amalgamated into Union Bank of India with effect from April 1, 2020. Andhra Bank said, "Further, the board of directors of the bank at its meeting held on March 5, 2020, has approved the equity share exchange ratio for amalgamation of Andhra Bank into Union Bank of India for 325 equity shares in Union Bank of India for every 1,000 equity shares in Andhra Bank." Union Bank in a separate exchange filing said its board at its meeting on Thursday has also approved the equity share exchange ratio. It includes 325 equity shares of Union Bank of India for every 1,000 shares in Andhra Bank and 330 shares in Union Bank for every 1,000 equity shares in Corporation Bank. Also, for Syndicate Bank's merger into Canara Bank, the share swap is 158 equity shares of Canara Bank for every 1,000 equity shares of Syndicate Bank. The lenders in their respective filings to the exchange said their boards have approved the amalgamation of Syndicate Bank into Canara Bank. For these two banks, an expert committee (Grievance Redressal Committee ) is to be headed by K N Keshavanarayana, former judge of the High Court of Karnataka, to address the grievances of minority shareholders. The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from April 1, 2020. According to the mega consolidation plan, OBC and UBI will merge into PNB; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. After the mergers, there will be seven large public sector banks (PSBs) and five smaller ones. Last year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. Prior to this, the government had merged five associate banks of SBI and Bharatiya Mahila Bank with the State Bank of India. The anchor bank Punjab National Bank will become the country's second largest bank, with business size of Rs 17.94 lakh crore, after SBI which has business of over Rs 52 lakh crore. Bank of Baroda will become the third largest bank, followed by Canara Bank, Union Bank of India, Bank of India, and Indian Bank. The other PSBs are Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra, and Punjab and Sind Bank. Stock of PNB on Thursday closed at Rs 44.90 on the BSE, up 1.01 per cent from the previous close, while Union Bank of India's shares jumped 8.25 per cent to Rs 39.35 apiece. Canara Bank rose marginally by 0.40 per cent to close at 139.45 apiece. KPM CS HRS

8 state-owned banks announce share swap ratios for mergers

(Eds: Adding more inputs) New Delhi, Mar 5 () With the March-end deadline for the biggest-ever amalgamation scheme is approaching, ten state-owned banks on Thursday announced swap ratios for the proposed mergers.Punjab National Bank (PNB) in a regulatory filing announced the share exchange ratio in accordance with the scheme of amalgamation, as it is set to merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) into itself with effect from April 1.PNB's board in its meeting on Thursday has approved for amalgamation of OBC and UBI, Punjab National Bank said in a BSE filing.According to the swap ratio, 1,150 equity shares of PNB are to be exchanged for every 1,000 equity shares of Oriental Bank of Commerce, while 121 equity shares of PNB are to be swapped for every 1,000 equity shares of UBI.A Grievance Redressal Committee headed by Vijay Kumar Vyas, retired judge of Rajasthan High Court, has been set up to address the grievances of shareholders. The committee is intended to address those shareholders who either individually or collectively hold at least 1 per cent of the equity capital of any of PNB, OBC or UBI; or 100 shareholders acting collectively, of any of PNB, OBC or UBI."The board of directors of the bank...have fixed Wednesday, March 25, 2020, as record date for issuing and allotting equity shares of the PNB to the shareholders of OBC and UBI as per the share exchange ratio," PNB said in the filing.Meanwhile, Andhra Bank on Thursday also announced the swap ratio for its merger, it said in a filing. Andhra Bank and Corporation Bank are to be amalgamated into Union Bank of India with effect from April 1, 2020.Andhra Bank said, "Further, the board of directors of the bank at its meeting held on March 5, 2020, has approved the equity share exchange ratio for amalgamation of Andhra Bank into Union Bank of India for 325 equity shares in Union Bank of India for every 1,000 equity shares in Andhra Bank."Union Bank in a separate exchange filing said its board at its meeting on Thursday has also approved the equity share exchange ratio. It includes 325 equity shares of Union Bank of India for every 1,000 shares in Andhra Bank and 330 shares in Union Bank for every 1,000 equity shares in Corporation Bank.Also, for Syndicate Bank's merger into Canara Bank, the share swap is 158 equity shares of Canara Bank for every 1,000 equity shares of Syndicate Bank.The lenders in their respective filings to the exchange said their boards have approved the amalgamation of Syndicate Bank into Canara Bank.For these two banks, an expert committee (Grievance Redressal Committee ) is to be headed by K N Keshavanarayana, former judge of the High Court of Karnataka, to address the grievances of minority shareholders.Meanwhile, Allahabad Bank on Thursday also said that as per the its amalgamation into Indian Bank, its board of directors approved the swap ratio.It said, "115 equity shares of Rs 10.00 each of Indian Bank (transferee bank) for every 1,000 (one thousand) equity shares of Rs 10.00 each of Allahabad Bank (transferor bank)." The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from April 1, 2020.According to the mega consolidation plan, OBC and UBI will merge into PNB; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank.After the mergers, there will be seven large public sector banks (PSBs) and five smaller ones.Last year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. Prior to this, the government had merged five associate banks of SBI and Bharatiya Mahila Bank with the State Bank of India.The anchor bank Punjab National Bank will become the country's second largest bank, with business size of Rs 17.94 lakh crore, after SBI which has business of over Rs 52 lakh crore.Bank of Baroda will become the third largest bank, followed by Canara Bank, Union Bank of India, Bank of India, and Indian Bank.The other PSBs are Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra, and Punjab and Sind Bank.Stock of PNB on Thursday closed at Rs 44.90 on the BSE, up 1.01 per cent from the previous close, while Union Bank of India's shares jumped 8.25 per cent to Rs 39.35 apiece. Canara Bank rose marginally by 0.40 per cent to close at 139.45 apiece. KPM CS KRH KRH BALBAL

You Searched For "Rajasthan High Court" and got 8 results

Rajasthan High Court to pronounce order on the petition filed by Sachin Pilot and 18 other rebel Congress MLAs today

PTI

Meet Om Birla,India’s newly elected Lok Sabha speaker

Preeti Soni

Timeline: How it took 20 years to convict Salman Khan in the blackbuck poaching case

Kavita Majumdar

Bahujan Samaj Party issues whip to 6 defector MLAs in Rajasthan

IANS

In Indian courts, ‘She’ toilets are either missing, unoperational or locked

Prerna Sindwani

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8 state-owned banks announce share swap ratios for mergers

PTI

10 state-owned banks announce share swap ratios for mergers

PTI

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