Which one of the following is not a prohibition towards a banking company, under BR Act ?
- No banking company shall create any charge upon any unpaid capital of the company and any such charge shall be invalid.
- No banking company shall create floating charge on the undertaking or the property of the company, if such a floating charge is created, only with the written permission of the RBI.
- No banking company shall pay any dividend to its shares until all capitalised expenses have been completely written of.
- No banking company incorporated in India shall have a director in its board of directors, who is a director of any other bank.
- No banking company may pay dividend without writing of depreciation in the value of investment of approved securities, shares, debentures, bonds, write off bad debts if any.
