Court : Mumbai
Decided on : Mar-22-1971
Reported in : [1972]42CompCas72(Bom)
..... the learned judge was therefore right in according sanction to the scheme, although the merger or amalgamation formulated in the scheme is not sanctioned by the central government under the monopolies act. the appeals, therefore, fail and are dismissed with costs. 46. mr. bharucha, the learned counsel for the respondents in both the petitions, ..... alternatives for carrying on business for earning profits. it also through its board carried on negotiations with telco for amalgamation. he contended that these act show that the old central bank was carrying on business through its board of directors. he further relied on the fact that it sought alterations to its memorandum with ..... of the company or its shareholders to undertake any other business within the framework of the company's memorandum as, for example, the business of a finance and investment company, because, apart from the difficulties involved in setting up such a unit which would operate in a competitive filed, such a business did .....
Tag this Judgment!Court : Mumbai
Decided on : Mar-22-1971
Reported in : AIR1972Bom301; (1972)74BOMLR1; ILR1972Bom228
..... learned judge was, therefore, right in according sanction to the scheme, although the merger or amalgamation formulated in the scheme is not sanctioned by the central government under the monopolies act. the appeals, therefore, fail and are dismissed with costs.39. mr. bharucha, the learned counsel for the respondents in both the petitions, states ..... alternatives for carrying on business for earning profits. it also through its board carried on negotiations with telco for amalgamation. he contended that these acts show that the old central bank was carrying on business through its board of directors. he further relied on the fact that it sought alterations to its memorandum with ..... company or its share-holders to undertake any other business within the frame work of the company's memorandum as, for example, the business of the finance and investment company, because apart from the difficulties involved in setting up such a unit which would operate in a competitive filed, such a business did .....
Tag this Judgment!Court : Mumbai
Decided on : Apr-30-1971
Reported in : AIR1971Bom365
..... under the maharashtra co-operative societies act 1960 having its registered office at nagpur. it does banking business and is known as a central co-operative bank within the meaning of that expression used in the reserve bank of india act, 1934. the primary object of this society is to finance the other co-operative societies in ..... the district and is now covered by the banking regulation act, 1949 as amended by the. ..... 1970 is challenged by the petitioners as being without jurisdiction and the petitioners pray that section 78 of the maharashtra co-operative societies act, 1960 be declared as not applicable to the central cooperative banks and that the divisional joint registrar, co-operative societies, has no jurisdiction to initiate any action under section 78 .....
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