A private limited (NBFC) say X Limited is taking over another private limited (NBFC) Say Y limited.
New Directors appear to have been inducted and the old directors resigned/retired in Y Limited, consequent upon the take over.
X limited is already banking with us/enjoying credit facilities and now the newly taken over Y limited is approaching us for credit facilities
As a Banker, what are the statutory clearances/legal documents we should insist upon submission while handling their proposal?
Radhika Rangarajan
Credit Officer of A Nationalised Bank
