Judgment Search Results Home > Cases Phrase: banking regulation act 1949 section 45v references to directors etc shall be construed as including references to past directors etc Page 1 of about 58 results (0.218 seconds)

Choudhry Traders Rep. by Its Proprietor, Mr. Ramdath Choudhry S/O Late ...

Court : Andhra Pradesh

Reported in : 2008(3)ALD670; 2008(4)ALT193

..... this view of the matter, this court has to record a finding and hold that the guidelines contained in the circular referred to above upon which much relevance is placed upon by the petitioners counsel placing reliance upon the judgments of the apex court, this court and andhra pradesh high court are not the guidelines issued in terms of section 21 of banking regulation act, 1949. ..... it is very difficult to hold that the guidelines dated 3.9.2005 issued by the reserve bank of india should be construed as one issued under section 21 or 35a of the banking regulation act. ..... to be subject to previous approval of the reserve bank:(1) in the case of a banking company,---(a) no amendment of any provision relating to the maximum permissible number of directors or the appointment or reappointment or termination of appointment, or remuneration of a chairman, a managing director or any other director, whole time or otherwise) or of a manager or a chief executive officer by whatever name called, whether that provision be contained in the company's memorandum or articles of association, or in an agreement entered into by it, or in any resolution passed by the company in general meeting or by its board of directors shall have effect unless approved ..... of provisions relating to appointments of managing directors, etc. ..... bank exercises various powers and discharge various statutory functions under foreign exchange management act, 1999, banking regulation act, 1949, reserve bank of india act, 1934 etc.28 .....

State Bank of Hyderabad and Etc. Etc. Vs. Advath Sakru and Another Etc ...

Court : Andhra Pradesh

Reported in : AIR1994AP170; 1993(1)ALT608

..... above discussion and for the reasons mentioned in the foregoing paragraphs, we answer the questions referred to us as follows :1) section 21-a of the banking regulation act, 1949 applies to all transactions entered into between the banking company and its debtor whether the transaction was entered into prior to its commencement or ..... appeal is disposed of, the trial court's decree merges in the appellate court's decree and the appellate court's decree will be the decree in the suit, and the words 'shall be made by any court' in the west bengal premises tenancy act include the appellate court and second appellate court and that the injunction against the court to pass a decree can be applied even at the second appellate stage or at every ..... the provisions of act 10 of 1918, and the same cannot be taken away by the application of section 21-a of regulation act, 1949 and therefore, the said provision should be construed as prospective.19. ..... of the said ordinance, when a crown lessee wanted to demolish the existing building, he could only recover the vacant possession of the premises after the director of public works issues a rebuilding certificate.the director of public works gave notice of his intention to grant rebuilding certificate and the lessee served notices in the prescribed form on the tenants ..... , clause (iv) (a) of sub-section (2) of section 5 of the punjab relief of indebtedness act categorically stated that if the interest exceeds 7 1/2% per annum simple interest etc .....

K.T.S. (Singapore) Plc. Ltd. Vs. Associated Forest Products (Pvt.) Ltd ...

Court : Kolkata

Reported in : (1993)1CALLT382(HC),[1996]85CompCas190(Cal),1996(55)ECC12

..... agreement between the petitioning creditor and the company did not explicitly provide for the obtaining of the permission from the reserve bank, section 47(2) of the foreign exchange regulation act provides that every contract governed by the laws of india would have an implied term to the effect that anything agreed to be done which was prohibited to be done, except with the permission of the reserve bank, shall not be done unless such permission is granted. ..... no permission or exemption general or special from the provision of section 9 of the foreign exchange regulation act, 1973, from the reserve bank of india was obtained in connection with the said document dated ..... 3scr1029 , the supreme court was called upon to consider whether an application under section 20 of the arbitration act, 1940 (by which a foreign seller sought to have a dispute in respect of its claim on account of contract by a indian buyer referred to arbitration), was violative of section 5 of the foreign exchange regulation act, 1947 (equivalent to section 9 of the foreign exchange regulation act, 1973).41. ..... submitted that the legal proceedings for recovery of monies under section 47(3) of the foreign exchange regulation act did not include a winding, up petition. ..... 24, 1989, a guarantee was executed by pradip saraf, the director of the company by which the facts set out earlier were ..... been defined in the oxford dictionary as :'a sum placed at a person's disposal in the books of a bank, etc. ..... , etc. ..... of guarantee, etc. .....

State of M.P. and Others Vs. Sanjay Nagayach and Others

Court : Supreme Court of India

..... bank and its controlling authorities have to function under the act read with the provisions of the reserve bank of india act, 1934 (for short rbi act), the banking regulation act, 1949 (for short regulation act), the banking law (application to co-operative societies) act, 1965 (23 of 1976), the deposit insurance and credit guarantee corporation act, 1961 (for short dicgc act), the national bank for agricultural and rural development act, 1981 (for short nabard act) etc ..... provided and the board of directors has been given a reasonable opportunity of showing cause against the proposed order and representation, if any, made by it, is considered.xxx xxx xxxxxx xxx xxx(7) before taking action under sub-section (1) in respect of a financing bank or in respect of a society indebted to a financing bank, the registrar shall consult, in the former case, the madhya pradesh state co-operative bank limited and, in the ..... nabard had conducted an inspection of the panna dcb under section 35 of the regulation act, with reference to the financial position as on 31.3.2007, when the previous board was in office and thirty six fraud cases ..... after examining all the documents made available by the joint registrar including the show-cause-notice, reply filed by the board of directors opined as follows:(i) the jrcs has alleged that panna dccb ..... is to oust a democratically elected body and the expression used is shall not be passed without previous consultation, it is to be construed as mandatory. .....

State of M.P.and ors. Vs. Sanjay Nagayach and ors.

Court : Supreme Court of India

..... bank and its controlling authorities have to function under the act read with the provisions of the reserve bank of india act, 1934 (for short rbi act ), the banking regulation act, 1949 (for short regulation act ), the banking law (application to cooperative societies) act, 1965 (23 of 1976), the deposit insurance and credit guarantee corporation act, 1961 (for short dicgc act ), the national bank for agricultural and rural development act, 1981 (for short nabard act ) etc ..... to section 49(7a)(i) reads as follows: 7a(i) the term of the board of directors shall be five years from the date on which first meeting of the board of directors is held: provided that where a board of directors superseded, suspended or removed under the act is reinstated as a result of any order of any court or authority, the period during which the board of directors remained under supersession, suspension out of office, as the case may be, shall be ..... nabard had conducted an inspection of the panna dcb under section 35 of the regulation act, with reference to the financial position as on 31.3.2007, when the previous board was in office and thirty six fraud ..... after examining all the documents made available by the joint registrar including the show-cause-notice, reply filed by the board of directors opined as follows: i) the jrcs has alleged that panna ..... is to oust a democratically elected body and the expression used is shall not be passed without previous consultation , it is to be construed as mandatory. .....

Nagavarapu Krishna Prasad and anr. Vs. Andhra Bank Ltd.

Court : Andhra Pradesh

Reported in : [1983]53CompCas73(AP)

..... was nationalised under the ordinance of 1980, the predominant and paramount object of the company, was banking business and the company was banking company, as defined by the provisions of the banking (regulation) act, 1949. ..... 173 of the companies act which required that in the case of a special resolution, there shall be annexed to the notice of meeting a statement setting out all material facts concerning each such item of business including in particular the nature of the concern or interest if any therein of every director and the manager ..... the above reasons, we are of the view, as the main object of the company was banking business and as it is no longer entitled to carry on the said business in view of the acquisition act, it must be held that the substratum has disappeared even though, according to the memorandum of association construed in the light of the independent objects clause, it was authorised to carry on other businesses also ..... section 6(2), however, prohibits the banking company from engaging in any form of business other than those referred to in ..... doubted that having regard to the various safeguards imposed by the acts and regulations dealing with banking business like the banking companies act, banking regulations, etc. ..... . for the past 20 years, no dividend was declared and the company is perpetually running ..... his coterie consisting of his close relatives and nominees are attempting to gain control over the company to be formed, by giving instances of his past conduct .....

Subramanya Vs. Chairman and Managing Director

Court : Karnataka

Reported in : ILR1995KAR3434

..... regulations, the violation of any one of the provisions thereof would amount to misconduct and this could include a violation of regulation-3 also which inertia casts an obligation upon all the officer employees of the bank to act honestly, diligently, and do nothing which would be unbecoming of an officer of the bank ..... construed by reference ..... include conditions that the servant should be trustworthy that his acts should justify the confidence of the employer, that the employee will not so act as to prejudice or damage the interests of the employer, that the employee would not act ..... directors as the competent authority for the purposes of the aforesaid regulations ..... and definite rule of action, a forbidden act, a dereliction from duty, unlawful behavior, ..... regulations, or the discipline and appeal regulations of the bank which regulate ..... acts ..... regulation ..... the interests of the bank' at all times, 'act with due diligence' 'acts unbecoming of an employee of the bank' are vague and capable ..... section 3(2) requires the employers in an industrial establishment while preparing draft standing orders to make provision in such draft for every matter set out in the schedule which may be applicable to the industrial establishment, and where, model standing orders have been prescribed, shall ..... acts of omission and commission which would constitute misconduct made it difficult to accept the submission urged on behalf of the company and any act ..... acts of misconduct is a condition precedent for making any such act .....

Hans George Vs. State

Court : Mumbai

Reported in : AIR1964Bom274; (1964)66BOMLR262; 1964CriLJ650; ILR1964Bom319; 1964MhLJ441

..... section 8 of the foreign exchange regulation act, which relates to restrictions on the import and export of currency and bullion, reads as follows:'(1) the central government may, by notification in the official gazette, order that, subject to such exemptions, it any, as may be contained in the notification, no person shall, except with the general or special permission of the reserve bank and on payment of the fee, if any, prescribed, bring or send into india any gold or silver or any currency notes or bank notes or coin whether ..... that the appellant was in fact not aware of the notification when he left zurich, it is contended on behalf on the state that the appellant had the means to knowledge, that had he, before emplaning at zurich,' made enquiries by reference to the gazette of india, he could have obtained knowledge of the notification, that he denied to himself the opportunity to obtain that knowledge and that, therefore, he must be fixed with constructive notice of the notification. ..... it is then contended by the learned government pleader that the permission granted by the reserve bank to 'bring' gold into india must be construed to be a permission pertaining to a lawful activity and cannot apply to cases in which gold is being smuggled. ..... neither of these objects can be achieved by a passenger asking the carriers, on his unverified statement, to include a particular article in the transit manifest.15. .....

Veeramachaneni Subba Rao (Died) and ors. Vs. Indian Bank, Rep. by the ...

Court : Andhra Pradesh

Reported in : 1997(4)ALT112

..... , act and by virtue of section 21a of the banking regulation act, 1949 the transaction between the appellant-defendant and the respondent-bank under the usurious loans act cannot be opened. ..... in this case, the letter in question did not mention details of title deeds, which were to be deposited with the bank and neither mentioned what was the principal amount borrowed or to be borrowed nor it referred to the rate of interest for the loan, the letter was not intended to be an integral part of the transaction between theparties and didnot by itself operate to create an interest in the immovable property and, therefore, it did not ..... 80,379-89 paise including interest from the appellant-defendant because he has failed to pay the amount in spite of demands.3. ..... the question is not whether the provision is prospective or retrospective, but as an when the matter comes before the court, whether in a suit, appeal or second appeal etc. ..... , suit, appeal or second appeal etc. ..... it is well established principle of law that an appeal is nothing but a continuation of the suit or re-hearing of the suit and is a stage in the suit and that suit, appeal, second appeal etc. .....

The Vaish Co-operative Adarsh Bank Ltd. Vs. the Delhi Co-operative Tri ...

Court : Delhi

Reported in : 100(2002)DLT485

..... the main challenge through this petition is that in view of section 21 of the banking regulations act, 1949, the arbitrator and the tribunal have no jurisdiction to re-open the two loan accounts of 1971 and 1972 on the ground that the rate of interest charged by the petitioner bank was excessive as this was a subject matter of written contract between the petitioner ..... as otherwise expressly provided in this act - (a) the provisions of this act shall have effect notwithstanding anything to the contrary contained in the memorandum or articles of a banking company, or in any agreement executed by it, or in any resolution passed by the banking company in general meeting or by its board of directors, whether the same be registered, executed or passed, as the case may be, before or after the commencement of the banking companies (amendment) act, 1959; and(b) any provision contained in the memorandum, articles, agreement or resolution aforesaid shall, to the extent to ..... reading of the aforesaid provision shows that any stipulation for increase of interest from the date of default, or stipulation by way of penalty like the above referred clauses of the mortgage deed in question are penal in nature.13 ..... rate of interest was much below, under the facts and circumstances of the case, the reasonable interpretation seems to be that they intended to prescribe the maximum rate of penal interest (which would include penalty as well as the normal interest). '4. ..... act to override memorandum, articles, .....