Judgment Search Results Home > Cases Phrase: banking regulation act 1949 maharashtra section 20 restrictions on loans and advances Court: chennai Page 1 of about 8 results (0.132 seconds)

Mrs. S. Bagavathy Vs. State of Tamil Nadu, Rep. by Its Secretary, Law ...

Court : Chennai

Reported in : 2007(2)CTC207

..... on the other hand, the full bench of the bombay high court struck down the maharashtra act and declared the same to be ultra vires holding that the maharashtra act directly conflicts with the provisions of the central legislation such as, companies act, 1956, reserve bank of india act, 1934 read with banking regulation act, 1949, of course, following delhi cloth and general mills co. ..... , the learned advocate general contends that the state government never intended to enact any legislation, the subject matter of which is governed under the existing laws, namely section 58a of the companies act, 1956, which only regulates the acceptance of the deposits and section 45s of reserve bank of india act, 1934 which prohibits the acceptance of the deposits, but only intended to protect the interest of the depositors for realization of the dues, which they are entitled ..... concept of occupied field(c) liberal and harmonious construction(d) application of the doctrine of pith and substance, the doctrine of ancillary and incidental trenching and the doctrine of eclipse(e) the impugned tamil nadu act and the relevant entries in lists i, ii and iii of the vii schedule to the constitution of india(f) the impugned tamil nadu act with reference to section 58a of companies act, 1956 and sections 45s and 58b(5a) and 58b(5b) of reserve bank of india act, 1934(g) the impugned tamil nadu act and sections 45s and 58b(5a) of reserve bank of india act, with reference to the .....

Raj Kumar Khemka Vs. Union of India (Uoi), Ministry of Finance, Rep. b ...

Court : Chennai

Reported in : AIR2009Mad143

..... definition of 'the bank' has been shown under section 2(d) of the rdb act and under section 2(c) of the sarfaesi act, respectively:rdb act: section 2(d):banks' means:(i) a banking company;(ii) a corresponding new bank;(iii) state bank of india;(iv) a subsidiary bank; or(v) a regional rural bank;sarfaesi act: section 2(c):'banks' means:(i) a banking company; or(ii) a corresponding new bank; or(iii) the state bank of india; or(iv) a subsidiary bank; or(v) such other bank which the central government may, by notification,* specify for the purposes of this act;*(the central government has specified 'co-operative banks' as defined in clause (cci) of section 5 of the banking regulation act, 1949 (10 of 1949) as 'bank', vide s.o.105(e), dated 28.1. ..... however, while dealing with the matter, the supreme court discussed the relevant provisions of the banking regulation act, 1949 (for short, 'the b.r. ..... this purpose, it is necessary to quote relevant observations of the supreme court in the said case, as hereunder:the banking regulation act, 1949 (the br act)37. ..... 9930 of 2008) (for short, 'the co-operative bank'), which is registered under the provisions of the maharashtra co-operative societies act. ..... state of maharashtra and anr. ..... maharashtra co-operative societies act), the mscs act, 2002 (i.e ..... 9930 of 2008 before this court, forbearing the respondent-co-operative bank from exercising the powers under the sarfaesi act, insofar as the loan account of the borrower-m/s.nepc agro goods is concerned. .....

Coimbatore District Central Co-operative Bank Ltd. Vs. Income-tax Offi ...

Court : Chennai

..... 1st october, 1991 in relation to deduction of income-tax at source in the case of income credited or paid in respect of deposits with a banking company to which the banking regulation act, 1949 applies (including any bank or banking institution referred to in section 51 of that act) or with a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank), and (b) section 194h of the income-tax act, to provide that the deduction of income tax at source from income by way of commission or brokerage will not be required to be made on or after ..... (iv) the reason perhaps as to why the benefit was sought to be extended to the deposits made in co-operative societies carrying on the business of banking was that the colonial acts, namely, the co-operative societies act, 1912 and the multi-unit co-operative societies act, 1942 were debated after india attained independence and a co-operative movement was already at the dawn in the state of maharashtra where sugarcane was grown to a large extent. ..... to the exclusions provided under sub-clauses (a) to (d) of clause (i) of sub-section (3), certain restrictions are imposed by two provisos. ..... in simple terms, a state land development bank is one which has as its principal object, the providing of long term advances for agricultural development. 37. .....

Asia Tobacco Company Ltd. Vs. Union of India and ors.

Court : Chennai

Reported in : (1985)45CTR(Mad)306; 1985(5)ECC53; 1985(5)LC1637(Madras); 1984(18)ELT152(Mad); [1985]155ITR568(Mad)

..... 8(1) of the foreign exchange regulation act, 1947, was in fact duly published in the gazette of india, yet it was argued to escape the scathe of the penal provisions that the accused no knowledge of the notification since he was out of india and, hence, it would not be deemed to be in force from the date of its issue or publication in the gazette, but only when it was brought to the notice of persons, who would be affected by it, and this argument was repelled by the majority ..... - in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excises rules, 1944, read with sub-section (3) of section 3 of the additional duties of excise (goods of special importance) act, 1957 (58 of 1957), the central government hereby rescinds the notification of the government of india in the ministry of finance (department of revenue) no ..... who tried the action, observed as follows (p.103) : '...the order is dated may 16, 1917; the goods were paid for by the three people concerned, with banking hours, on may 16, 1917, although at what precise time on that day is not known. ..... the restrictions as to limitation as found in the act and the rules cannot come in the way of the writ jurisdiction of this court. 20 ..... if the interpretation given by the petitioner is accepted, it would mean giving advance notice of the changes made to give effect to levy. ..... the decision has always been regarded as very doubtful, but it never came under review by a higher court in state of maharashtra v. m. h. .....

Selvi J. Jayalalitha, Vs. the Union of India (Uoi), Rep. by Its Secret ...

Court : Chennai

Reported in : [2007]288ITR225(Mad)

..... statute book for over twenty years cannot be an answer in favour of its constitutionality, yet it is also a relevant factor in its favour, since this section and similar other sections in the customs act, foreign exchange regulation act as also other such legislations have been in force all these years and there appears to have been no serious complaint of mindless and indiscriminate prosecution.75 ..... section 143(2) or 142a(1) or 142a(2), under section 271a for failure to maintain books of account, under section 271b for failure to get the accounts audited, under section 272a for failure to answer queries, under section 272aa for failure to comply with the provisions of section 133b, under section 272b for non-compliance of the provisions of section 139a, under section 273(1)(b) for failure to furnish a statement of advance tax, under section 273(2)(b) for failure to furnish estimate of advance tax and under section 273(2)(c) of the ..... union territory of chandigarh], wherein it has been held as follows :by proportionality, it is meant that the question whether while regulating exercise of fundamental rights, the appropriate or least restrictive choice of measures has been made by the legislature or the administrator so as to achieve the object of the legislation ..... maharashtra], the supreme court holds a presumption of fact has been held as '...an inference of fact drawn from another proved fact taking due note of common experience ..... section 5-a of the dairy industry act, ..... bank .....

Telecom Regulatory Authority of India Vs. Bharti Airtel Ltd

Court : Chennai

..... learned senior counsel appearing for the writ petitioners, learned additional solicitor general took us through the enactment of the telecom regulatory authority of india, 1997 as well as the regulations framed by the telecom regulatory authority of india and submitted that once the writ petitioners have subjected themselves to the authority, which rightly had been conferred under section 11(1)(b) of the telecom regulatory authority of india act, 1987, it is too late for the writ petitioners to question it. ..... in this background, extending the stay granted in w.p.no.3652 of 2013, where the stay was limited, and finding that there was no need for such extension in w.p.no.1875 of 2013, where there was no such restricted stay, learned single judge pointed out that even though there was no mention regarding the extension of interim order in w.p.no.3652 of 2013 on 03.04.2013, on which day the matter stood adjourned to 05.04.2013, he observed ".since the ..... reiterating his contention that the supreme court had time and again deprecated the practice of granting interim relief in matters where there is a challenge to the regulation, learned additional solicitor general placed reliance on the decision reported in (1995) 3 scc257(bank of maharashtra v. .....

T.T.V. Dhinakaran Vs. Dy. Director, Enforcement Directorate

Court : Chennai

Reported in : AIR2003Mad59; 2003(85)ECC153; (2002)3MLJ587

..... regulation act, 1973 (fera), the presidency towns insolvency act, and the insolvency rules, 1958, has raised the following contentions:(i) the notice as issued by the petitioning creditor is liable to be rejected, as the same has not been issued on the orders of this court and the service as has been made is neither prescribed nor it is under prescribed manner; (ii) the pre-condition for issuance of notice under section 9 (2) of the presidency towns insolvency act is not satisfied and ..... the division bench has held that,'the term 'debt' no doubt, is commonly used to describe liabilities which have an origin in contract; but we see no reason why we should restrict the connotation of that term to such liabilities only. ..... though elaborate argument has been advanced by the learned additional solicitor general by sighting decisions arise under wealth tax act and income-tax act, as rightly contended by the learned senior counsel for the applicant, the definitions contained in another enactment which is not a cognate enactment should not be used to construe the ..... state of maharashtra, wherein it was held that mere pendency of the appeal does not have the effect of suspending the operation of the decree of the trial court and neither the finding of the civil court gets nor ..... at length and ultimately the division bench of this court indicated that the orders of the fera board could be stayed, on the debtor herein depositing 50 per cent of the amount due and furnishing a bank guarantee for .....

Dass Colour Lab Vs. Union of India (Uoi) and ors.

Court : Chennai

Reported in : 1993(42)ECC243

..... in that case, a notification was issued by the government under section 29-b of the industries (development and regulation) act (65 of 1951) exempting sugar industry from certain provisions of the act and the rules framed thereunder. ..... (whether in one or more than one consignment) against one or more specific contracts, which have been registered with the appropriate customs house in the manner prescribed by regulations which the central board of excise and customs may make under section 157 of the customs act, 1962 (52 of 1962) and such contract or contracts has or have been so registered before any order is made by the proper officer of customs permitting the clearance for home consumption, or deposit in a warehouse ..... it is next contended that the imported machinery is a new technical development, which is very much required for the advancement of the trade in this country and if the concession available in chapter 98 is not made applicable, it will cause a set-back to the development of the industry. ..... the act repealed indian tariff act, 1934 and the amendment act of 1949. ..... state of maharashtra : 1989(44)elt613(sc) goodyear india ltd., v. ..... duke of westminister (1936) ac 1 bank of chettinad v. ..... duke of westminister (1936) ac 1; bank pf chettinad v. .....

M/S. Bangalore Water Supply and Sewerage Board, Cauvery Project Divisi ...

Court : Chennai

Reported in : 1998(2)CTC51; (1998)IIIMLJ13

..... now, the current rate of interest has been defined in section 2(b) of that act as the highest of the maximum rates at which the interest may be paid on different classes of deposits by different classes of scheduled banks in accordance with the directions given or issued to the banking companies, generally by the reserve bank of india under the banking regulation act. ..... when the plaintiff has not proved the claim of interest at 24% even as damages, the teamed single judge merely on the basis of the argument of the plaintiff cannot come to the conclusion that the nationalised banks are advancing the loans to the persons at the rate of 24% per annum and that therefore, the defendant cannot have any grudge paying interest at the same rate on the amount due to the plaintiff.14. mr. ..... transaction, the rate of such further interest may exceed six percent per annum, but shall not exceed the contractual rate of interest or where there is no contractual rate, the rate at which moneys are lent or advanced by nationalised banks in relation to commercial transactions.explanation i: .....explanation ii: for the purpose of this section, a transaction is a commercial transaction, if it is connected with the industry, trade or business of the party incurring the liability.(2) .....48. ..... in state of maharashtra v. .....

Fariyal Trading as M/s. Miracle, Ladies Hari Dresses and Beauty Parlou ...

Court : Chennai

..... letter sent by the reserve bank of india shows that they sought clarification from the plaintiff as to whether they have obtained permission under section 29 of the foreign exchange regulation act, 1973 to carry on the ladies hair dressing and beauty parlour. ..... exhibits produced on the side of the plaintiff: s.no.exhibitsdatedescription1.p-1--authorization letter given to p.w.12.p-202.10.1971copy of the letter appointing plaintiff by the wife of governor of maharashtra3.p-311.11.1974copy of the letter sent by reserve bank of india to the plaintiff4.p-4--copy of the registration certificate of the plaintiff beauty parlour from 01.01.1992 to 31.12.19925.p-522.06.1995copy of deccan chronicle new paper article on plaintiff6.p-624.09.2008copy of the certificate of registration of trade ..... decree in favour of the plaintiff directing the defendant to render an account of profits made by them by the use of th trade mark miracle on the services referred and for a final decree in favour of the plaintiff for the amount of the profits found to have been made by the defendant, after the defendant have rendered accounts. ..... to surrender to the plaintiff all the services of beauty saloon/parlour packing material, cartons, advertisement materials and hoardings, letter-heads, visiting cards, office stationery and all other materials containing/bearing the trade mark miracle or other deceptively similar trade marks in respect of above ..... by the wife of the governor of maharashtra in the year 1972. .....