Com Bank V Commissioners - Judgment Search Results

Madhya Pradesh Co-operative Bank Ltd. Vs. Additional Commissioner of I ...

Court: Supreme Court of India

Reported in: (1996)134CTR(SC)92

the probable eventuality to pay off the depositors should they demand the same. It is, therefore, difficult to comprehend how such Government securities relating to reserve fund can be considered the banks stock-in-trade or circulating capital. It … business carried on by it, if it is -(a) a society engaged in carrying on the business of banking or providing credit facilities to its members;..........Provided that, in the case of a co-operative society which is also … the society is to be wound up. These eventualities will, however, be very rare.'Obviously as per the above instructions no part of the reserve fund … primary societies which in turn made it over to the appellant. A commission was charged for the procuring activity which was divided between the three,