Court : Gujarat
Reported in : (2001)1GLR108; (2001)ILLJ783Guj
..... commission established under section 3 of the oil and natural gas commission act, 1959 (xliii of 1959) or the deposit insurance and credit guarantee corporation established under section 3 of the deposit insurance and credit guarantee corporation act, 1961 (xlvii of 1961), or the central warehousing corporation established under section 3 of the warehousing ..... the industrial disputes act, 1947. at this stage, it would be relevant to notice the provisions of section 4 of the industrial disputes (banking and insurance companies) act, 1949. section 4 of the said act reads as follows :-'4. prohibition of reference by stale government of certain industrial disputes for ..... government had no jurisdiction to refer industrial dispute between the bank and its employees in view of the provisions of the industrial disputes (banking and insurance companies) act, 1949, and therefore, the reference should be dismissed. the labour court raised necessary issues for determination and held that as 2 .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]80CompCas9(Bom)
..... the rules as framed by the bank under the directives of the reserve bank of india. the deposit insurance corporations established under the deposit insurance and credit guarantee cooperation act, 1961, transact the business of insuring deposits with banks. the objects of the corporations are cognate as they seek to protect both banks and ..... the expenses which are incurred. it is, thus, clear that there is sufficient nexus between the borrowers and the deposit insurance and credit guarantee corporation as the loan amount is insured with the credit banks. thus, according to us, the guarantee fees and the legal expenses claimed by the appellant-bank are covered ..... the appellant took us through the record of the case including the deed of hypothecation, deed of guarantee and revival letters, the provisions of the deposit insurance and credit guarantee corporation act, 1961, and also the manual of small industries and small business schemes, volume ii. according to learned counsel for the .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2006Guj194
..... majmudar, jj.] that the learned senior advocate who then appeared for respondent no. 4, had submitted that in view of provision of section 17 of the deposit insurance and credit guarantee corporation act, 1961, the amount payable to the concerned depositor shall be paid to them through the liquidator of respondent no. 5. this statement has ..... (hh) reads as under :-pending admission and final disposal of the present petition, your lordships may be pleased to direct the respondent no. 4-deposit insurance and credit guarantee corporation to pay forthwith to each depositor of the diamond jubilee cooperative bank [in liquidation] the sum payable under sections 16 and 17 of the ..... deposit insurance and credit guarantee corporation act, 1961.this is over and above several other prayers that have been made in the petition. mr. mehta has submitted that .....
Tag this Judgment!Court : Karnataka
Reported in : ILR1996KAR3541; 1996(7)KarLJ574
..... scheme dicgci, (small loans) 'small loans (ssi) guarantee scheme, 1981'. it is stated that since the scheme underlying the deposit insurance/credit guarantee corporation act, 1961 makes it optional for the credit institutions to avail of the facility provided by the third-respondent corporation, any such coverage taken under any such optional scheme could ..... 1990, informed the petitioner that the amount debited represented the levy of guarantee fee paid by the bank to the third-respondent corporation under the deposit insurance and credit guarantee corporation - small guarantee scheme - 1971. the petitioner protested against the said debit entry and disputed the first-respondent's right to collect ..... the petitioner submitted a scheme to the 2nd respondent, seeking financial assistance. the scheme was approved for a sum of rs. 73,309 lakhs, credit facilities to which extent were granted by the 2nd respondent-bank subject to the terms and conditions set out in the sanction letter as also the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1983AP1
..... operative bank. s. 115-b itself profusely furnishes guidelines for the winding up of the bank, apart from incorporating the procedure contained in s. 13-d of the deposit insurance and credit guarantee corporation act, 1961. s. 115-b (i) and (ii) provides for winding up with the previous sanction of the reserve bank and also in accordance ..... . 115-b. it is necessary to refer to the provisions of the deposit insurance and credit guarantee corporation act, 1961 (act xlvii of 1961) as the provisions of the said act have been incorporated by reference s. 2(gg) defines eligible co- ..... as contemplated under this chapter. s. 115-a under chap. xiii-a defines eligible co-operative bank as one defines as s. 2(gg) of the deposit insurance and credit guarantee corporation act 1961 (central act 47 of 1961). s. 115-b prescribes the procedure for winding up of the eligible co-operative bank before adverting to s .....
Tag this Judgment!Court : Allahabad
Reported in : 1999(1)AWC237
..... bank, contending that the aforesaid facility to the petitioner was sanctioned under the state sponsored scheme as the respondent bank uses to give guarantee fee to deposit insurance credit guarantee corporation, which is a central government corporation, and give guarantee for the repayment in case the loan or any facility granted by the bank ..... of the amount under the provisions of the recovery of dues act. the mere fact that the payment has been made under deposit insurance credit guarantee scheme, under which the central government corporation stands warranted for the repayment of the loan or any other facility granted by the bank cannot ..... file civil suit. the defence put forward by the respondent central bank of india, is that the cash credit facility has been granted to the petitioner society under a state sponsored scheme, namely, deposit insurance credit guarantee scheme, which is a scheme run by the central government corporation, which stands warranty for the repayment .....
Tag this Judgment!Court : Allahabad
Reported in : AIR2002All1; (2001)3UPLBEC1941
..... clause (c) of section 2 of the act so as to make the act applicable. it may be mentioned here that this contention based upon deposit insurance and credit guarantee corporation act, 1961 has not been noticed or considered in any other decision of this court except in anupam sari centre v. collector (supra ..... . sri sachendra mohan, learned counsel for the bank in the connected writ petition has submitted that under deposit insurance and credit guarantee corporation act, 1961 (for short 1961 act), the bank has deposited guarantee fee with the deposit insurance and credit guarantee corporation established under the said act and, as such, the case is covered by clause (c ..... connected therewith or incidental thereto. section 16 of this act provides that where an order for winding up or liquidation of an insured bank is made, the deposit insurance and credit guarantee corporation established under section 3 shall be liable to pay to every depositor of that bank. in accordance with the provisions of .....
Tag this Judgment!Court : Karnataka
Reported in : AIR2005Kant5; II(2005)BC230; [2004]122CompCas58(Kar)
..... 19-9-1993), the bank failed to rectify the same.respondents 6 and 7 raised several additional grounds. they submitted that the loan was guaranteed by the deposit insurance and credit guarantee corporation ('dicgc' for short), under the small loans [small-scale industries] guaranteed scheme, 1981 and as dicgc would pay 75% of the defaulted loan ..... such fee is debited to the account of the borrower. cgc may guarantee the credit facilities given by any bank and may also indemnify the bank in respect of such credit facilities granted by the bank under the provisions of deposit insurance and credit guarantee corporation act, 1961, subject to payment of such fees as may be ..... payment of the loan, by way of mortgage by deposit of title deeds on 29-10-1984, confirmed by a subsequent letter dated 29-10-1984.2.3 the particulars of the amounts advanced, particulars of debits on account of interest, credit guarantee commission fees, insurance premia and other miscellaneous debits and all payments made by .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2009(1)ALT634; [2009]147CompCas193(AP)
..... pay a sum of rs. 227.13 crores to the depositors of the second respondent-bank as per sections 16 and 17 of the deposit insurance and credit guarantee corporation act, 1961, to see that all the depositors of the bank receive their dues in full and also to restrain the second ..... and perused the material on record.5. the first respondent-corporation is established under the deposit insurance and credit guarantee corporation act, 1961, for insuring deposits in commercial banks. the scheme of the act shows that the corporation insures all deposits in commercial banks and a premium rate would be determined by the corporation from time ..... association alleges that the first respondent-corporation which is a statutory body incorporated under the deposit insurance and credit guarantee corporation act, 1961 (for short, 'the act 47 of 1961') for the purpose of insurance of deposits and guaranteeing of credit facility, has been seeking recovery of the amounts from the second respondent-bank even before .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(5)BomCR238; 2009(4)MhLj923
..... scheme. he relied upon sections 21a of the deposit insurance and credit guarantee corporation act, 1961 which reads as under :21a. guaranteeing of credit facilities and indemnifying credit institutions.- (1) the corporation may guarantee credit facilities given by any credit institution and may also indemnify credit institutions in respect of credit facilities granted by them. (2) the board may ..... all amounts received by the corporation in respect of guarantees and indemnities taken over or given by it; (d) all amounts transferred to that fund from the deposit insurance fund or the general fund under section 27; and (e) all income arising from the investments made out of that fund. 2) the said fund shall ..... been received by the first respondent on 23.6.1990. it is important however to note that he expressly stated that the said amount was deposited in a suspense account. this he said was because the first respondent had to continue the efforts for recovery of the dues from the borrower. .....
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