IN THE HIGH COURT OF JUSTICE CR – 2017- 004219 BUSINESS AND PROPERTY COURTS
OF ENGLAND AND WALES COMPANIES COURT
IN THE MATTER OF THE STATE BANK OF INDIA
IN THE MATTER OF STATE BANK OF INDIA (UK) LIMITED
IN THE MATTER OF PART VII OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
NOTICE IS HEREBY GIVEN that, on 20 December 2017, an Application was presented to Her Majesty’s High Court of Justice by the State Bank of India (SBI) and State Bank of India (UK) Limited (SBI UK) pursuant to section 107(1) of the Financial Services and Markets Act 2000 (FSMA) for an Order:
a) under section 111 of FSMA sanctioning a banking business transfer scheme for the
transfer to SBI UK of the Transferring Business (as defined in the Scheme) of SBI
carried on in the United Kingdom (the Scheme); and
b) making ancillary provision in connection with the Scheme pursuant to section 112 of FSMA.
The Transferring Business to be transferred pursuant to the Scheme comprises part of SBI’s deposit-taking, loan and mortgage businesses in the United Kingdom as carried on by SBI’s UK branch. The Transferring Business will include all applicable third party guarantees and other forms of security which will, therefore, be transferred to SBI UK pursuant to the Scheme.
If the Scheme is sanctioned by the Court, it will result in the transfer of the Transferring Business to SBI UK, notwithstanding that a person would otherwise be entitled to terminate, modify, acquire or claim an interest or right, or to treat an interest or right as terminated or modified. Any such right will only be enforceable to the extent the Order of the Court makes provision to that effect.
An explanatory statement setting out the terms of the Scheme and/or a copy of the Scheme will be provided free of charge to any person who requests it before the making of an Order sanctioning the Scheme by emailing SBI at email@example.com, writing to SBI at 15 King Street, London EC2V 8EA or calling 0800 532 532 . Alternatively, you can access the explanatory statement and the Scheme until the making of an Order sanctioning the Scheme on the website www.sbiuk.com/subsidiary.
If you have any questions or concerns relating to the proposed transfer, please contact the Transfer Information Line using the telephone number 0800 532532.
The Application is directed to be heard before the Judge at the Royal Courts of Justice, Strand, London, WC2A 2LL, England on 6 March 2018.
Any person who believes that he or she will be adversely affected by the Scheme is entitled to attend (in person or by the legal representative with advocacy rights) and be heard by the High Court at the hearing of the Application. Anyone wishing to do so is asked to give notice as soon as possible and preferably before 20 February 2018 of such intention and of the reasons therefor by writing to the address or email address above.
KPMG LLP of 15 Canada Square, London, E14 5GL (Ref: KK/RF/SBI), Solicitors for State Bank of India and State Bank of India (UK) Limited.