Court : Mumbai
Reported in : 1992(3)BomCR387; (1992)94BOMLR589
..... contractual rate.10. in order to find out the applicability of the usurious loans act and particularly section 3 thereof, it is necessary to examine section 21-a of the banking regulation act which came to be incorporated therein by banking laws (amendment) act (i of 1984) which came into force with effect from 15th february, 1984. ..... the said section totally prohibits the courts from reopening a transactions between a banking company and its debtor on the ground that ..... 21-a is prospective in its application relied upon the decision in muthian and another v. syndicate bank, pollachi, : air1987mad248 . it is held therein that section 21-a of the banking regulation act which came into existences by act no. 1 of 1984 with effect from 15-2-1984 only, evidently was without any retrospective .....
Tag this Judgment!Court : Chennai
Reported in : AIR1987Mad248; [1989]65CompCas333(Mad); (1988)IMLJ45
..... agriculturists since it is patent that the loan had been granted for purchasing a tractor for agricultural operations.13. section 21-a has come into existence by way of an amendment to the banking regulation act, 1949, by the amendment:, act i of, 1984, with effect from 15-2-1984 only, evidently without any retrospective effect. that provision cannot be said to clothe the respondent ..... , eluru, air 1986 andh pra 291 is relied on by the learned counsel for the appellants for the following proposition : -"section 21a of the banking regulation act, 1949, cannot be construed as overriding the operation of the usurious loans act, 1918, as amended by madras amendment act 8 of 1937 in their application to farmers. section 21a would not interdict the, applicability of even the usurious loans .....
Tag this Judgment!Court : Mumbai
Reported in : 1989(1)BomCR59; [1991]72CompCas632(Bom)
..... ; 'without prejudice to the provisions of the state bank of india act, 1955, or any other enactment, the provisions of sections 10, 13 to 15, 17 ..... , liquidator, manager and any other employee of a banking company shall be deemed to be a public servant for the purposes of chapter ix of the indian penal code.' 11. this provision was inserted in the statute book by the banking companies (amendment) act, 1956, on january 14, 1957. thereafter, section 51 of the banking regulation act, 1949, was amended with effect from july 19, 1969, as under .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2007(6)ALT563
..... of the deposit insurance corporation (amendment) act, 1968;(b) the corporation shall register as an insured bank-(i) every new co-operative bank [other than a primary credit society becoming a primary co-operative bank after the commencement of the deposit insurance corporation (amendment) act, 1968] as soon as may be after it is granted a licence under section 22 of the banking regulation act, 1949;(ii) a primary credit ..... society becoming a primary co-operative bank after such commencement within three months of its having made an application for a .....
Tag this Judgment!Court : Mumbai
Reported in : (1989)ILLJ446Bom
..... prejudice to the provisions of the state bank of india act, 1955, or any other enactment, the provisions of sections 10, 13 to 15, 17 ..... , liquidator, manager and any other employee of a banking company shall be deemed to be a public servant for the purposes of chapter ix of the indian penal code.'this provision was inserted in the statute book by the banking companies (amendment) act, 1956, on 14th january 1957. therefore, section 51 of the banking regulation act, 1949 was amended with effect from 19th july 1969 as under :'without .....
Tag this Judgment!Court : Chennai
Reported in : AIR2009Mad143
..... the meaning of 'banking company' under section 5(c ..... the cooperative banks under the discipline of reserve bank of india and other authorities. a cooperative bank shall be construed as a banking company in terms of section 56 of the act. this is because the various provisions for regulating the banking companies were to be made applicable to cooperative banks also. accordingly, section 56 brought cooperative banks within the machinery of the br act but did not amend or expand .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1998Raj100; 1998(1)WLC725; 1998(1)WLN131
..... . parakh was that by the banking laws (application to co-operative societies) act, 1965 (act no. 23 of 1965) the banking regulation act has been amended and chapter v was added and as section 56 of that act says that every co-operative bank shall be construed as a 'banking company,' the original definition of 'banking company' in the banking regulation act of 1949 stands amended and the co-operative banks shall also be read in ..... act further to amend the reserve bank of india act, 1934 and the banking companies act, 1949 for the purpose of regulating the banking business of certain co-operative societies and for matters connected therewith.' 12. it is, thus, obvious that for the purpose of regulating the banking business of all the institutions, including the co-operative banks the banking companies act, 1949 was amended andit was renamed vide act no. 23 of 1965 as banking regulation act .....
Tag this Judgment!Court : Mumbai
Reported in : (1991)93BOMLR996; 1992(1)MhLj68
..... earlier stage of his argument, shri gilda cited authorities of different high courts prior to the amendment of the banking regulation act, 1949 by act (1 of 1984), after the said amendment whatever has been held in those earlier cases decided before amendment has no relevance in the context of the change in law as it exists today and ..... circulars issued by the reserve bank of india, yet on account of change in law brought about by the banking laws (amendment) act (1 of 1984), section 24 incorporating altogether a new section 21a in the banking regulation act, 1949, whatever power the courts had previous to this amendment under the usurious loans act, 1918, it was taken ..... 1984). in support of this argument, shri gilda relied upon muthian v. syndicate bank, : air1987mad248 . no doubt, it has been held in the case cited above that section 21a of the banking regulation act, 1949, which came into existence by the amendment act (1 of 1984) with effect from february 15, 1984, only, evidently was .....
Tag this Judgment!Court : Mumbai
Reported in : [1989(58)FLR707]
..... , 1956, on 14-1-1957. thereafter, s. 51 of the banking regulation act, 1949 was amended with effect from 19-7-1969 as under :'without prejudice to the provisions of the state bank of india act, 1955, or any other enactment, the provisions of sections 10 ..... act, 1956.'9. section 46a of the banking regulation act, 1949, provides that :'every chairman, director, auditor, liquidator, manager and any other employee of a baking company shall be deemed to be a public servant for the purposes of chap. ix of the i.p.c.'this provision was inserted in the statute book by the banking companies (amendment) act ..... .'then dealing with the point further, he observed in para 21 of his judgment as under :'section 46a, banking regulation act, 1949, lays down that a chairman, director, manager and other employees of a banking company 'shall be deemed to be a public servant for the purposes of chapter ix penal code'. in the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 1996(3)ALT1005
..... decisions rendered by this court on various prior occasions and such questions which were referred to the full bench are:'1. whether section 21a of the banking regulation act, 1949 applies to transactions which were entered into prior to its commencement, even though suits were instituted subsequent thereto?2. whether it applies only to ..... the courts, in other words, cannot exercise jurisdiction under the usurious loans act or any other law relating to indebtedness for the purpose of giving relief to any party. this appears to be the interest of the legislature in enacting the banking laws (amendment) act, 1983.section 21a has, however, no bearing on the jurisdiction of ..... courts to give relief to an aggrieved party when it is established that the bank in a particular case has charged interest in excess of the limit prescribed .....
Tag this Judgment!