Court : Supreme Court of India
Reported in : 2007AIRSCW3656; AIR2007SC2129; 2007(6)SCC694; 2007-III-LLJ-352(SC); JT2007(8)SC581
..... and appeal) regulations, 1976 (for short 'the 1976 regulations) have been framed by reason of section 19 of the banking companies (acquisition and transfer of undertakings) act, 1970 in consultation with the reserve bank of india and with the previous sanction of the central government. regulation 4 of the 1976 regulations provides for the penalties. ..... construction should, subject of course to the applicability of the other principles of interpretation, be made applicable in a case of this nature. in new india assurance company ltd. v. nusli neville wadia and anr. : air2008sc876 , this court held:50-with a view to read the provisions of the act in a ..... to constitute a misconduct punishable under the 1976 regulations.10. the 1979 regulations were also framed under the same power by the board of directors of the bank. the 1979 regulations deal with different terms of the employment of service. chapter iv deals with appointments, probation, confirmation, promotions, etc. chapter v deals .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1970SC564; [1970]40CompCas325(SC); (1970)1SCC248; [1970]3SCR530
..... no order as to costs.248. in accordance with the opinion of the majority petitions nos. 300 and 298 are allowed, and it is declared that the banking companies (acquisition and transfer of undertakings) act 22 of 1969 is invalid and the action taken or deemed to be taken in exercise of the powers under the act is declared ..... objectives and for matters connected therewith or incidental thereto. the ordinance came into force on 19 july, 1969. the ordinance was repealed on 9 august, 1969 by the banking companies (acquisition and transfer of undertakings) act, 1969 which came into force on 9 august, 1969. the object of the act was similar to that of the ordinance. there are ..... act. the act must, in its entirety, be declared void.143. petitions nos. 300 and 298 of 1969 are therefore allowed, and it is declared that the banking companies (acquisition and transfer of undertakings) act 22 of 1969 is invalid and the action taken or deemed to be taken in exercise of the powers under the act is declared .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1991SC855; [1992]74CompCas482(SC); JT1990(3)SC417; 1990(2)SCALE200; (1990)4SCC406; [1990]3SCR649
..... .c. cooper v. union of india : [1970]3scr530 this court, while referring to nationalised banks constituted under the provisions of the banking companies (acquisition and transfer of undertakings) ordinance, 1969, has treated the nationalised banks as corporations.22. while construing the expression 'corporation' in section 2(e)(2)(ii) of the ..... 1958. as a result of the enactment of the banking companies (acquisition and transfer of undertakings) act, 1970 (hereinafter referred to as the 'banks nationalisation act'), the undertaking of the punjab national bank ltd., was transferred and vested in punjab national bank a body corporate constituted under the provisions of the said ..... obstante clause giving overriding effect to its provisions.56. in shri ram narain v. the simla banking and industrial co. ltd. : [1956]1scr603 this court was considering the provisions contained in the banking companies act, 1949 and the displaced persons (debts adjustment) act, 1951. both the enactments contained .....
Tag this Judgment!Court : Supreme Court of India
Reported in : II(1994)BC613(SC); [1994]81CompCas842(SC); JT1994(7)SC87; 1994(3)SCALE46; (1994)5SCC213; [1994]Supp1SCR170
..... and if so, what relief defendant is entitled to? the division bench thereafter examined the provisions of the reserve bank of india act, 1934, the banking regulation act, 1949 and the banking companies (acquisition and transfer of undertakings) act, 1970 as amended from time to time and noticed the various directives/circulars issued ..... by the reserve bank in exercise of power conferred by section 21 of the banking regulation act, 1949 and concluded as under:it is thus clear that the ordinary practice or custom of banks ..... of the judgment thus:it is clear that the said provision makes the provisions of usurious loans act inapplicable to any transaction between a banking company and its debtor. the courts' power to reopen the transaction, under the provisions of the usurious loans act on the ground that the .....
Tag this Judgment!Court : Supreme Court of India
..... or more. explanation. for the purpose of this clause the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the ..... banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause .....
Tag this Judgment!Court : Supreme Court of India
..... or more. explanation. for the purpose of this clause the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the ..... banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause .....
Tag this Judgment!Court : Supreme Court of India
..... or more. explanation. for the purpose of this clause the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the ..... banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1978SC597; (1978)1SCC248; [1978]2SCR621
..... . 8 of 1969 transferring to and vesting the undertaking of 14 names commercial banks in the corresponding new bank under the ordinance. subsequently, the parliament, enacted banking companies (acquisition of transfer of undertaking) act, 1969. the object of the act was to provide for the acquisition and transfer of the undertakings of certain banking companies in conformity with the national policy and objectives and for matters corrected therewith ..... and incidental thereto. the petitioners before the supreme court who held shares in some of the named banks or had accounts current .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1973SC1461; (1973)4SCC225; [1973]SuppSCR1
..... decision given by this court in rustom cavasjee cooper v. union of india [1970] 3 s.c.r. 530 where it was held by ten judges that the banking companies (acquisition and transfer of undertakings) act violated the guarantee of compensation under article 31(2) in that it provided for giving certain amounts determined according to principles which were ..... case [1970] 3 s.c.r. 530 in which a bench of 11 judges held by a majority of 10 to 1 that the banking companies (acquisition and transfer of undertakings) act, 1969 violated the guarantee of compensation under article 31(2) in that, it provided for giving certain amounts determined according to ..... does this mean that the fundamental right to reasonable restriction of procedural nature under article 19(1)(f) which was available against any law of acquisition or requisition of property as held in the bank nationalisation case, is abrogated or destroyed? the answer to this question would depend upon what is the meaning to be given to the word " .....
Tag this Judgment!Court : Supreme Court of India
..... dissent was endorsed in rustom cavasjee cooper v union of india.128 an eleven judge bench dealt with the question whether the banking companies (acquisition and transfer of undertakings) ordinance, 1969, and the banking companies (acquisition and transfer of undertakings) act, 1969 impaired the petitioner s rights under articles 14, 19 and 31 of the constitution. ..... maintenance of institutions for purposes of a religious and charitable nature; (ii) managing the affairs of the denomination in matters of religion; (iii) ownership and acquisition of immovable property; and (iv) administration of the property in accordance with law. article 26, as in the case of article 25(1), is prefaced by ..... of entrance into the temple for purposes of 'darshan' or worship is a right which flows from the nature of the institution itself, and for the acquisition of such rights, no custom or immemorial usage need be asserted or proved .. and again:28. air1952sc24566 the true position, therefore, is that the .....
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