Court : Guwahati
..... as defined in section 45a of the act 'banking company' means a banking company as defined in section 5 of the banking regulation act, 1949 and includes the state bank of india, and subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959, any corresponding new bank constituted by section 3 of the banking companies (acquisition and transfer of undertaking) act, 1970, and any other financial institution notified by the central government in this behalf. ..... be made by thatbanking company to any one company, firm,association of persons or individual,(d),the maximum amount up to which, having regard to the considerations referred to in clause (c), guarantees may be given by a banking company on behalf of any one company, firm, association of persons or individual, and(e) the rate of interest and other terms and conditions on which advances or other financial accommodation may be made or guarantees may be given,(3) every banking company shall be bound to comply with any directions given to it under this section'.17. ..... ordinary banking business, accordingto sayers, consists of changing cash for bank deposits and bank deposits for cash;transferring bank deposits from one personor corporation to another; granting of loans; giving bank deposits in exchange for bills of exchange, etc. ..... the general superintendence and direction of the affairs and business of the bank has been entrusted to a central board of directors. .....
Tag this Judgment!Court : Guwahati
..... in the judgment in the writ appeal the proviso to section 45(5)(i) of the banking regulation act, 1949 have been quoted and in paragraph 8 of the judgment a direction was given to the appellant-bank to implement the provisions of clauses 10 and 11 of the scheme in relation to tea boys or canteen boys and there was a further order that this shall be done within a period of 3 months from the date of the ..... in our judgment such distinctive groups should be sorted out and a choice should be given with reference to the preexisting terms and the terms of our award in relation to some at least of the groups but taking each of them as one unit.even the bank's counsel had to admit that in evaluating the benefits of pre-existing terms and the terms of our award there are certain service conditions which cannot be valued in terms of ..... bank also shall do the needful to give necessary rational benefit with regard to seniority etc. ..... canteen, club-house payment of taxes etc.we are of the opinion that no option should be given in respect of the following groups:- (1) leave ..... of management, the interest taken by the employer in providing, maintaining, supervising and controlling the service, the contribution made by the management in the form of infrastructure and funds for making the service available etc. ..... obligation is not explicitly accepted by or cast upon the employer either by an agreement or an award, etc. ..... control, with regard to their recruitment/termination, payment of salaries etc. .....
Tag this Judgment!Court : Guwahati
..... , the ambit and scope of section 36 read with section 46 of banking regulation act, 1949, the apex court made it clear that the directives issued by the reserve bank of india are of binding nature, the banks must follow them and if there is violation or breach of these directives, the bank would be liable to punitive action ..... facts of the present case, it is of utmost importance to note that clause c of the guidelines, dated 29.1.2003, aforementioned reads as follows -these guidelines will cover cases on which the banks have initiated action under the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 and also cases pending before courts/drts/bifr, subject to consent decree being obtained from the courts/drts/bifr. 9. ..... matter, it is of paramount importance to note that the judgment and order, dated 20.6.2002, passed in oa 135/97 by the drt, guwahati, holding the bank entitled to recover the amount aforementioned with interest and cost has not been appealed against and the same has achieved finality.11. ..... that once directives are issued by the reserve bank of india, all banks are bound by such directives and they have to implement them and that such a practice shall be resorted to in the larger interest of justice, which would narrow down the controversy in suits filed by banking institutions and would enable expeditious disposal of such ..... became 'non-performing asset' (hereinafter referred to as-'npa') as far back ..... reference, in .....
Tag this Judgment!Court : Guwahati
..... 3374/91 that the tea boys or canteen boys were employees of purbanchal bank before its amalgamation with the central bank of india and for the reason has held that they be treated as employees of the central bank of india after its amalgamation by virtue of operation of section 45(5)(i) of the banking regulations act, 1949. ..... the said civil rule and a certified copy of this judgement and order will be submitted by the respondent association to the appropriate department of the central government who will refer the disputes between the parties under the industrial disputes act, 1947 to the appropriate tribunal within a period of two months from the date of receipt of this judgment from the respondent association and the appropriate tribunal will decide the ..... further states that the service condition of the staff of the respondent bank does not include the provisions of the service condition and as such the bank management is not under any obligation to provide any canteen facility to the ..... court found that there was no right in the bank to supervise and control the work done by the persons employed in the committee nor had the bank any right to direct the manner in which the work shall be done by various persons and the bank had no right to take any disciplinary action or to direct any canteen employee to do a particular work and the bank was under no legal obligation to run the canteen. ..... made in the writ petition that utensils, furniture, electricity, water, gas connection etc. .....
Tag this Judgment!Court : Guwahati
..... the decision contained in the communication dated 15.2.2000 the power under section 15a of the assam co-operative bank (amendment act, 1989) (hereinafter referred to as the amendment 'act') has been exercised purportedly on the circumstances comprehended under section 13(d) of the deposit insurance and credit guarantee corporation act, 1961 (hereinafter referred to as the deposit 'act'), the procedure prescribed for an inspection before winding up of the bank as envisaged under section 35 of the banking regulation act, 1949 (hereinafter referred to as the 1949 act) was indispensable and therefore in absence of such an enquiry, ..... inspection on 30.6.1994 revealed the following deficiencies in the functioning of the bank :'(i) it had defaulted in the maintenance of cash reserve and liquid assets, required to be maintained under sections 18 and 24 of the banking regulation act, 1949 (as applicable to co-operative societies) almost throughout the period covered by inspection ..... section 7 thereof requires that no co-op society other than a co-op bank shall use as a part of its name, any of the words 'bank, 'banker' or 'banking' and no co-op society shall carry on business without using as a part of its name, at least one of ..... or such 'company' should be construed as references to a co-op bank. ..... categorically contended that the bank had failed to show any significant improvement in its position and factors like mismanagement of the affairs, neglect of the internal and accounting system etc. .....
Tag this Judgment!Court : Guwahati
..... is incorporated in section 21a of the banking regulation act, 1949 act which was inserted by banking law (amendment) act, 1984. ..... including interest both pendentilite and subsequent @ 15% per annum till the date of repayment on payment of additional court fee, if any, from the defendants and the plaintiff shall have a charge on the mortgage properties as described in the schedule 'a' and 'b' of the plaint against the decretal amount, and the defendants were directed to make payment of the decretal amount with cost of the suit within a period of six months and in default, the plaintiff-bank shall ..... 1 but he pleaded that on the verbal assurance by the branch manager of the bank, the defendant deposited some of amount towards the credit of the borrowers account to get a clearance certificate from the plaintiff-bank to get necessary route permit to run the vehicle, but the plaintiff-bank in defiance of their verbal assurance did not issue clearance certificate in favour of the ..... 2 it is inter alia stated that the suit is bad for breach of contractual obligation by the plaintiff-bank and it is not maintainable under the present form and also bad for non-joinder of necessary parties and hit by principles of waiver ..... the learned trial court on consideration of the materials available on record including the oral and documentary evidence and properly appreciating and scrutinising the same, answered ..... chakraborty, learned counsel for the appellant has referred a case reported in air 1998 sc .....
Tag this Judgment!Court : Guwahati
..... was initialed under the banking regulation act, 1949 for amalgamation of three private banks with that of three nationalized banks in terms of separate schemes drawn under the provisions of the act. ..... i may also gainfully refer to the decision of the apex court as reported in air 2001 sc 625 (krishna devaraya ..... the apex court after an exhaustive discussion on the principles of natural justice directed the transferee banks to take over the excluded employees. ..... i may gainfully refer to the decisions as reported in (1996) 11 scc 404 ..... a reference to the lackings in the performances of the petitioner towards issuance of the warning letters, termination order and filing of the affidavit referring to the same cannot be said to be irrelevant, rather same was the only consideration in terminating ..... referring to various decisions of the apex court and tracing back the history of such cases in which the services of a probationer is terminated, the apex court held that an employer is entitled to satisfy itself as to the competence of a ..... referring to the warning letters by which the petitioner was warned to improve in her performance as well as the statements made in the affidavit, he strenuously argued that although the termination was on the alleged ground of ..... in (1987) 1 scc 146 explained the meaning of stigma in paragraph 8 of the judgment as follows : 'according to webster's new world dictionary it is something that detracts from the character or reputation of a person, a mark sign, etc. .....
Tag this Judgment!Court : Guwahati
..... the calcutta high court made an order under the provisions of the banking regulation act, 1949 (act x of 1949) (as amended), hereinafter called ' the banking act ', and sent a precept under section 46 of the code of civil procedure to the district judge, silchar ..... precept is in the following terms :' whereas by an order of this court made in this suit and dated the 30th day of may, 1967, it was ordered that a precept under the provisions of section 46 of the code of civil procedure should issue to your court in execution of the order made in this suit and dated the 3rd day of july, 1956, with directions to attach the property specified ..... sending a decree for execution shall send a copy of the decree, a certificate setting forth that satisfaction of the decree had not been obtained by execution within the jurisdiction of the court and a copy of the order for the execution of the decree, but there is authority to the effect that an omission to send a copy of the decree or an omission to transmit to the court executing the decree the certificate referred to in clause (b) does ..... such order, the high court shall issue a certificate specifying clearly the reliefs granted and the names and descriptions of the parties against whom such reliefs have been granted, the amount of costs awarded and by whom, and out of what funds and in what proportions such costs are to be paid ; and every such certificate shall be deemed to be a certified copy of the decree for all purposes including execution. .....
Tag this Judgment!Court : Guwahati
..... section 23 of the foreign exchange regulation act runs as follows:(1) if any person contravenes the provisions of section 4, section 5, section 9 or sub-section (2) of section 12 or of any rule, direction or order made thereunder, he shall-(a) be liable to such penalty not exceeding three times the value of the foreign exchange in respect of which the contravention has taken place, or five thousand rupees, whichever is more, as may be adjudged by the director of enforcement in the manner hereinafter provided, or(b) upon conviction by a court, be punishable with imprisonment for a term which may extend to two ..... - for the purposes of this sub-section, property in respect of which contravention has taken place shall include deposits in a bank, where the said property is converted into such deposits. ..... was proceeded with under section 23 of the foreign exchange regulation act, he stood the chance of an acquittal, that in such a case there would be no confiscation of his sold or imposition of fine, and that, even if the case ended in conviction, it was in the judicial discretion of the magistrate to order forfeiture of the gold but that as the first respondent proceeded under the sea customs act, the petitioner was prejudiced with reference to section 23 of the foreign exchange regulation act and that therefore, the ..... sadar, agartala even on 30.10.1949 therefore does not vitiate the departmental proceedings before the first respondent. .....
Tag this Judgment!Court : Guwahati
..... section 139 of the act prescribes, it shall be presumed, unless the contrary is proved, that the holder of a cheque received the cheque of the nature referred to in section 138 for the discharge, in the whole or in part, or any ..... prescribes thus (2) all offences under any other law shall be investigated, inquired into, tried, and otherwise dealt with according to the same provisions, but subject to any enactment for the time being in force regulating the manner or place of investigating, inquiring into, trying or otherwise ..... the case of the complainant that the cheques were dishonoured and the complainant learnt about the dishonour of cheques on 02.04.2005 and the complainant collected those cheques from the cooperative urban bank, agartala, his banker, and subsequently, he collected a certificate issued by p.w.4, which is marked as exbt.p.5. ..... section 138 deals with the dishonour of cheque for insufficiency, etc ..... section 118 prescribes that until the contrary is proved, presumption shall be made that every negotiable instrument was made or drawn for consideration and that every such instrument, when it has been accepted, indorsed, negotiated or transferred, was accepted, indorsed, negotiated or transferred for consideration and that every negotiable instrument bearing a date was made or drawn on such date, etc ..... and that she did not issue any cheque of rs.2,31,000/- in favour of the complainant and that her cheque book was lost on 14.02.2005 and the cheques were drawn fraudulently, etc. .....
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