Tuesday, November 11, 2014

Bank of Bengal incorporated for 7 years,Armenians,1809-1853

The Bank was to be incorporated for a term of 7 years. The Governor General in Council was to exercise control over the administration of the Bank. The Government were to guarantee the responsibility of the Bank's establishment. Directors, who might be "Armenians, Natives or others" had to hold at least one whole 
share of Rs. 10,000 each. 
The power of electing a Director in the case of a vacancy lay 
with the Proprietors and not with the remaining Directors

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