Judgment Search Results Home > Cases Phrase: banking regulation act 1949 maharashtra section 20 restrictions on loans and advances Page 1 of about 652 results (0.147 seconds)

Sajjan Singh Bhati Vs. State of Raj. and Ors

Court : Rajasthan Jodhpur

..... in this writ petition filed in public interest, the petitioner, an advocate, has brought to the notice of the court large scale banking business done by various cooperative societies registered under the multi-state cooperative societies act, 2002 and the cooperative societies registered under the rajasthan cooperative societies act,2001 without taking out licence under section 22, of the banking regulation act, 1949 2. ..... it is admitted that no cooperative society can start banking business unless it is registered as a 4 cooperative bank and unless it fulfills all the conditions of registration and obtains a licence for carrying on banking business under the banking regulation act, 1949.9. ..... in this case, the rbi was wrong in issuing a license to the appellants for the states of maharashtra and goa when, admittedly, the appellants had not been declared a state co-operative bank in the state of goa. ..... as the definition of co-operative societies in the nabard act is restricted to co-operative societies registered under state acts and as the provision is for a state to declare a co-operative society as a "state co- operative bank" the license, which can be issued by the rbi, can only be in respect of that state. ..... maharashtra state co-operative bank ltd. ..... in apex co-operative bank of urban bank of maharashtra and goa ltd. vs. ..... they have also failed to specify the purpose for which the amounts are advanced as loans.8. .....

Kartarsing S/O Sardarsingh Pardeshi and ors. Vs. the State of Maharash ...

Court : Mumbai

Reported in : 1994(1)BomCR642; (1993)95BOMLR118

..... 6 (see definition of central bank vide section 2(6) of maharashtra co-operative societies act).if the two definitions, namely, the definition of 'primary co-operative bank' and the definition of 'primary credit society' in banking regulation act, 1949, are considered together, one thing is quite certain that the primary co-operative bank cannot be and could never be taking the character of primary co-operative bank cannot be and could never be taking the character of primary credit society. ..... shri patil thereafter took us to section 56 of the banking regulation act, 1949, and, more particularly, to the definitions of 'primary co-operative bank' and 'primary credit society'. ..... however, if the voter does not choose to give all the 11 votes and restricts his choice, such vote, on that count itself, cannot be invalidated. ..... in this by-law it is provided that there shall be 12 directors and by-laws (iii)(a) specifically provides that the two seats on the board shall be reserved; one for the members who belong to the scheduled castes or scheduled tribes or to the jatis declared to be vimukta jatis by the state government and one for the weaker section of the members who have been granted loans not exceeding rs. ..... the only banking society which was intended to be covered appears to be the 'district central co-operative bank' which creates the funds for being loaned to other societies and which does not include the urban co-operative bank like the present respondent no. .....

The Janata Sahakari Bank Ltd. and Another Vs. the State of Maharashtra ...

Court : Mumbai

Reported in : AIR1993Bom252; 1993(2)BomCR615; [1995]82CompCas707(Bom)

..... 1 co-operative bank being a society registered under the maharashtra co-operative societies act was governed as such by the said maharashtra co-operative societies act and the reserve bank of india exercising its powers under the banking regulation act, 1949 could not have issued a circular giving directions and putting restrictions on the disbursement of profits for charitable and public purposes superseding those as prescribed under s. ..... 5(c), 5(ca) and 36 of the banking regulation act, 1949. ..... earlier, he pointed out that even though the co-operative societies and their management fell within the state subjects and are entirely governed by the maharashtra co-operative societies act, yet by virtue of part v of the banking regulation act, especially s. ..... 56 the entire co-operative banking activity was brought within the supervisory power of the reserve bank of india under the banking regulation act, 1949. ..... 56(zb) several parts of the banking regulation act, 1949 have been excluded from their application to the co-operative banks. ..... 35a of the banking regulation act, 1949 minutely we feel that the submission of dr. .....

Nagpur District Central Co-operative Bank Ltd. and anr. Vs. Divisional ...

Court : Mumbai

Reported in : AIR1971Bom365

..... first it was urged that it was not within the power of the registrar to interfere under section 78 of the societies act with a banking institution which is governed by the banking regulation act, 1949 and not by the maharashtra co-operative societies act. ..... under section 2(7) 'committee' means the committee of management or other directing body, to which the management of the affairs of a society is entrusted, under section 2(10) 'co-operative bank' means a society which is doing the business of banking as defined in clause (b) of sub-section (1) of section 5 of the banking companies act, 1949 (now it is amended as banking regulation act, 1949) and includes any society, which is functioning or is to function as a land development bank under chapter xi. ..... rules 38 to 47 deal with raising of funds by the societies by accepting loans or deposits, regulation of loans to be granted by the societies, the conditions to be complied with by the members applying for loans, manner of recalling of loan and restrictions on borrowing from more than one credit society. 8. ..... in dealing with this aspect, it observed: 'its provisions may advance so far into federal territory as to show that its true nature is not concerned with provincial matters, but the question is not, has it trespassed more or less, but is the trespass, whatever it be, such as to show that the pith and substance of the impugned act is not money lending but promissory notes or banking? .....

Bharat Co-operative Bank (Mumbai) Ltd. Vs. Co-operative Bank Employees ...

Court : Supreme Court of India

Reported in : AIR2007SC2320; 2007(4)ALLMR(SC)749; 2007(3)BomCR673; [2007(114)FLR155]; (2007)IILLJ825SC; 2007(4)MhLj506; 2007(5)SCALE57; (2007)4SCC685; 2007AIRSCW4020; JT2007(4)SC572; 2007(3)KCCRSN178(SC).;

..... the banking business and is governed by the provisions of the banking regulation act, 1949 (for short 'the br act'). ..... a rather intricate question hinges on the test whether at the time of insertion of the definition of the term 'banking company' in the form of sub-section (bb) of section 2 of the id act by the 1949 act it was a mere reference to the banking companies act, 1949 (later re-christened as the banking regulation act) or the intendment of the legislature was to incorporate the said definition as it is in the id act?14. ..... by transfer of eleven employees from one place to another, alleging it as an act of victimisation, the respondent filed a complaint against the bank under section 28 of the maharashtra recognition of trade unions and prevention of unfair labour practices act, 1971 (for short 'the mrtu & pulp act'), along with an application for interim relief, before the industrial court at mumbai ..... hand, when the word 'includes' is used in the definition, the legislature does not intend to restrict the definition; makes the definition enumerative but not exhaustive. ..... argument advanced was that the definition in section 2(c) of the taxation act was not a definition by incorporation but only a definition by reference and the meaning of 'motor vehicle' in section 2(c) must, therefore, be taken to be the same as defined from time to time in section 2(18) of the motor vehicles act, ..... we, therefore, reject the contention advanced by learned counsel for the appellant on this .....

Mahendra Vs. State of Maharashtra, Jayant and Others

Court : Mumbai

Reported in : (1992)94BOMLR454; [1994]80CompCas212(Bom)

..... our attention was invited to several provisions of the banking regulation act, 1949, to indicate how pervasive and exhaustive is the control of the reserve bank of india over the banking institutions. ..... the common point that arises in these two petitions relates to the width and extent of the power of the registrar under section 78 of the maharashtra co-operative societies act, 1960, to remove the committee of an 'insured co-operative bank', in view of section 110a of the maharashtra co-operative societies act. 2. ..... but from these provisions, a conclusion cannot be drawn that under section 110a of the maharashtra co-operative societies act removal of the committee on any ground covered by section 78 of the maharashtra co-operative societies act was intended to be controlled by the reserve bank of india. ..... the removal of the committee can be made under section 78 of the maharashtra co-operative societies act on several reasons and some of them may not have any bearing on the interest of the depositors. ..... 3, is an 'insured co-operative bank' as per the explanation below section 110a of the maharashtra co-operative societies act. ..... the registrar, co-operative societies, has issued notices under section 78 of the maharashtra co-operative societies act to all the 28 members of the committee of the said bank calling upon them to show cause as to why the committee should not be removed for the several charges mostly pertaining to mismanagement mentioned in the notice. .....

Vinod Son of Subhashrao Shinde, Vs. the State of Maharashtra, Through ...

Court : Mumbai

Reported in : 2007(5)ALLMR540; 2008(1)BomCR485

..... it is a banking society and is under the control of the reserve bank of india as well as national bank for agricultural and rural development (nabard), in so far as the regulation of banking operations are concerned in accordance with the banking regulation act, 1949. ..... banking regulation act, 1949 was also amended and such co-operative banking societies were brought under the control of the said act by inserting part - v in the said act. ..... , in order to finance the agriculturists as well as societies, a provision under section 73g of the maharashtra co-operative societies act was made for statutory recognition of the district central co-operative banks in the state of maharashtra and such these class of societies were classified as 'specified societies'. ..... (2) circular dated 19.11.2003 has a statutory force since the same can be read as the one under section 79a of the maharashtra co-operative societies act, 1960 and even otherwise in its executive power the government can issue the said circular which has the binding effect on respondent no. 4 ..... unless reservations are decided well in advance and duly certified by the competent authority under various heads and the number of posts reserved are indicated in the advertisement or in the requisition to the employment exchange, it would be wholly improper to proceed to make recruitment in the absence of such ..... , the district central co-operative banks are the banking societies and the main object was disbursement of the loan to the farmers. .....

The Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd. V ...

Court : Supreme Court of India

Reported in : AIR2004SC141; 2004(5)ALLMR(SC)26; [2003]117CompCas618(SC); JT2003(8)SC170; 2003(9)SCALE84; (2003)11SCC66; [2003]48SCL319(SC); 2004(1)LC441(SC); (2004)1UPLBEC341

..... it was submitted that this business was different from 'other forms of business' in which banking companies [or co-operative banks as per amendment in section 56] may engage in and which are specifically stated in section 6 of the banking regulation act, 1949. ..... by a notification dated 30th december, 1995, issued by the state of maharashtra the appellants were declared as a state co-operative bank within the meaning of section 2(u) of the national bank for agriculture and rural development act, 1981 (hereinafter referred to as the nabard act). ..... as the definition of co-operative societies in the nabard act is restricted to co-operative societies registered under state acts and as the provision is for a state to declare a co-operative society as a 'state cooperative bank' the license, which can be issued by the rbi, can only be in respect of that state. ..... thereafter, two directions/orders dated 25th january, 1996 and 14th, may, 1996 were issued by the commissioner for co-operation and registrar of co-operative societies, maharashtra state advising/directing deploying of funds by all urban co-operative banks to the appellants. ..... briefly stated the facts are as follows:on 28th of august, 1993, the appellants appear to have made an application to the reserve bank of india (hereinafter referred to as rbi) for a license to start an apex bank for maharashtra and goa. ..... it was submitted that the appellant was willing to restrict its business to the state of maharashtra. .....

Co-operative Bank Employees' Union Vs. Bharat Co-operative Bank Ltd. a ...

Court : Mumbai

Reported in : [2005(106)FLR52]

..... the issue now advanced before this court that the definition of banking company and also of appropriate government has to be considered on the date of referential incorporation by the act 54 of 1949 in the industrial disputes act and not from the subsequent amendment to the banking regulation act, 1949 by the act 23 of 1965 was not in issue. ..... 1 is a bank engaged in the business of banking and is banking company as defined under clause (c) of section 5 of the banking companies act, 1949 which is now known as banking regulation act, 1949. ..... apply to the industries to which the said act applied:provided that this act shall cease to apply with effect from the date on which the bombay industrial relations (amendment) act, 1949, comes into force, to the imperial bank of india and any banking company as defined in section 5 of the banking companies act, 1949, having branches or other establishments in more than one state.there is yet another legislation known as maharashtra recognition of trade unions and prevention of unfair labour practices act, 1971 (hereinafter referred to as mrtu & pulp ..... secondly this judgment came for consideration before the full bench of this court in shri narendra kantilal shah (supra) which also took a view that co-operative banks which are doing business of banking and advancing loan of more than rs. .....

The Saraswat Co-operative Bank Limited and ors. Vs. P.G. Koranne and o ...

Court : Mumbai

Reported in : AIR1983Bom317; (1983)85BOMLR134

..... it assumes that the banking regulation act, 1949, and the provisions of the maharashtra co-operative societies act, 1960, relating to banking co-operative societies operate in the same field. ..... it is to provide for such situations that the government is invested by section 60 with a power to relax the occasional rigour of the provisions of the act and to advance the objects of the act. ..... it was argued on behalf of the petitioners that compulsory appointment of employees on the managing committees of co-operatives societies was a restriction on the right of the members of the managing committees to manage the affairs of such societies as also a restriction on the right of the members of a co-operative society to have the affairs of the society managed by the representatives of their own choice. ..... what was, however, urged on behalf of the respondents was that restrictions, if any, imposed by section 73bb were not unreasonable, but were imposed in the interests of the general public. ..... the argument on behalf of the petitioner's was that the restrictions imposed by section 73bb were unreasonable and, therefore, their fundamental rights guaranteed by sub-clauses (f) and (g) of article 19(1) were violated. ..... ' under clause (5) of article 19, prior to its amendment by the constitution (forty-fourth amendment) act, 1978, the state could make a law imposing reasonable restrictions on the exercise of any of the rights conferred by sub-clause (f) in the interests of the general public. .....