Court : Allahabad
Reported in : (2006)201CTR(All)318; [2007]290ITR636(All)
..... petitioner-bank is a rural bank established by the central government by a notification under section 3 of the regional rural banks act, 1976 (called the act for ..... of section 11, and the following other members, namely :(a) two directors, who are not officers of the central government, state government, reserve bank, national bank, sponsor bank or any other bank, to be nominated by the central government;(b) one director, who is an officer of the reserve bank, to be nominated by that bank;(c) one director, who is an officer of the national bank, to be nominated by that bank ;(d) two directors, who are officers of the sponsor bank, to be nominated by that bank; and(e) two directors, who are officers of the concerned state ..... shall be the duty of the sponsor bank to aid and assist the regional rural bank, sponsored by it, by -(a) subscribing to the share capital of such regional rural bank,(b) training personnel of such regional rural bank; and(c) providing such managerial and financial assistance to such regional rural bank during the first five years of its functioning, as may be mutually agreed, upon between the sponsor bank and regional rural bank :provided that the central government may, either on its own motion or ..... since interim order is required imminently and in order to save the lis, we have no doubt that high powered committee shall consider the application for interim order and pass appropriate order as may be warranted under facts and circumstances of the case within 10 .....
Tag this Judgment!Court : Allahabad
Reported in : 14Ind.Cas.343
..... on june 29th, 1907, the delhi court gave its decision in the declaratory suit and on july 19th, 1907, the pleader for the bank, decree-holder, put in an application in this court stating that as the attached property has now been released, the bank will find out new property and then apply for execution and meanwhile the case might be shelved, and an order was passed sending it to ..... 845 under similar circumstances, held that the article which in such a case applies is article 178 of of the second schedule of the limitation act and that the decree-holder's right to apply accrued, when by the decree the sale of a share of two villages in that case ..... , 1909, act ix of 1908 came into force; tide section 1, clause 3 of act ix of 1908 and it has been contended that the present case should be governed by article 182 of the first schedule of that act. ..... on april l4th,1910,hardeo parsad, who had in the interim purchased the decree from the bank and had got his name entered on the record as decree-holder, instituted proceedings for attachment and sale of certain moveable and immoveable property said to belong to ..... it appears to us that the lower court was quite right in holding that section 15 of the act saves the decree-holder from limitation being set up against him under act ix of 1908. ..... and they contend that the application is time-, barred and that the lower court was wrong in holding that the injunction issued on april 6th,19c5,could be utilized by the decree-holder in saving limitation.2. .....
Tag this Judgment!Court : Allahabad
Reported in : 1999(2)AWC1201
..... 'from section 279 (2) and clause (ee) of section 294 of the act it is clear that the state government could make rules regarding costs incurred by the agency employed to recover the amount as arrears of land revenue. ..... 25 or the commission, if any, on remittances by bank draft or remittance transfer receipt shall be debited to the contract contingencies of the remitter ; (b) the cost recovered on account of any process used in the recovery of the amount of the certificate shall be deposited into the government treasury under the relevant receipt head of the budget as if such cost has accrued in the district in which the recovery has been made, and (c) the collection, if any, required to be charged under any orders ..... in factservice is rendered to the creditorwhich may be bank, financialinstitution, semi-governmentdepartment or the local authority,which is saved from payment of courtfee and other expenses in pursuing along drawn and time consuminglitigation. ..... submitted that the recovery of the amounts as arrears of land revenue is now a regular feature and a kind of regular service rendered by the revenue department, as recovery certificates are being received in large numbers under the various acts to recover the amounts of the banks, financial institutions and local authorities under taxing statute. ..... section 7 provides for saving of local laws relating to recovery of land revenue. ..... similarly, the attachment of the bank accounts of the petitioners shall also be lifted immediately. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1972All114
..... reference was next made to section 299(1) of the government of india act, 1935, which provided that no person could be deprived of his property save by authority of law and section 299(2) of that act which precluded a provincial legislature from making a law for compulsory acquisition of any land for public purpose unless the law provided for payment of compensation for the property acquired, and it was contended that ..... provincial legislature in 1948, is ultra vires as under the provincial legislative list in the seventh schedule to the government of india act, 1935, there is no entry enabling a provincial legislature to make a law for requisitioning of lands. ..... 311/47-c and g dated 21st october, 1947, published in the gazette of india extraordinary, dated the 25th october, 1947, empowered, in exercise of the powers conferred by section 104 of the government of india act, 1935, as adapted, the provincial legislatures to enact laws for requisitioning of lands. ..... relying upon the views expressed by the supreme court in various recent decisions, the latest being the decision in the banks 'nationalisation case (r. c. ..... in the banks nationalisation case the supreme court observed:--'where the law provides for compulsory acquisition of property for a public purpose it may be presumed that the acquisition or the law relating thereto imposed a reasonable restriction in the .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1949All778
..... of this part, the expression 'unregistered company' shall not include a railway company incorporated by act of parliament or by an indian law, nor a company registered under the indian companies act, 1866 (x [10] of 1866), or under any act appealed thereby, or under the indian companies act, 1882 (vi [6] of 1882), or under this act, but save as aforesaid shall include any partnership, association or company consisting of more than seven members.the bank is not a company incorporated or registered in the manner referred to in the said section ..... after the separation of burma and aden from british india a new section 2a was inserted in the indian companies act by the government of india (adaptation of indian laws) order 1937, making provisions about the companies registered in burma and aden before the ..... arrangement had been drawn up, which the directors considered feasible and which had the sanction of the majority of the creditors behind it, in the application it was pointed out that although the registered office of the bank was at bannu, the central office, the principal place of business where the administrative business of the bank was being carried on, was at dehra dun; that the governing body and about 95 per cent. ..... the brain which controls its operations, the governing body which meets in bodily presence for exercising the powers conferred on it, and the payment to all its migrated depositors and creditors, who number more than 95% in amount was made at dehra dun is within .....
Tag this Judgment!Court : Allahabad
Reported in : [1970]40CompCas611(All); [1971(21)FLR357]; (1970)IILLJ393All
..... the expression 'other authorities' is wide enough to include within it every authority created by a statute and functioning within the territory of india, or under the control of the government of india; and we do not see any reason to narrow down this meaning in the context in which the words ' other authorities' are used in article 12 of the constitution.26. ..... a rule prohibiting any form of demonstration for the redress of grievance of government servants is violative of fundamental rights guaranteed by sub-clauses (a) and (b) of article 19(1) of the constitution.11. in o.k. ..... under section 5 of the act the original capital of the corporation amounting to five crores of rupees was provided by the central government. ..... , pondicherry : [1964]1scr656 , this court, dealing with article 12, held:'further, all local or other authorities within the territory of india include all authorities within the territory of india whether under the control of the government of india or the governments of various states and even autonomous authorities which may not be under the control of the government at all. ..... jagdish swarup appearing for the respondents did not seriously suggest that the regulation is saved by the exceptions mentioned in clauses (2), (3) and (4) of article 19.8. ..... central bank of india : [1952]1scr391 shamdasani filed a petition under article 32 of the constitution against the central bank of india. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR2010All3; 2010(1)AWC51
..... or non-banking financial company as defined in clause (f) of section 45i of the reserve bank of india act, 1934 (2 of 1934), which the central government may, by notification, specify as financial institution ..... the financial institution is defined under section 2(m) of the act to mean:(m) 'financial institution' means-(i) a public financial institution within the meaning of section 4a of the companies act, 1956 (1 of 1956);(ii) any institution specified by the central government under sub-clause (ii) of clause (h) of section 2 of the recovery of debts due to banks and financial institutions act, 1993 (51 of 1993);(iii) the international finance corporation established under the international finance corporation (status, immunities and privileges) act, 1958 (42 of 1958)(iv) any other institution ..... . by a statutory provision special benefit was conferred upon the tenants in madras city where they had put up a building for residential or non-residential purposes and were saved from eviction, it did though affect the existing rights of the landlords .....
Tag this Judgment!Court : Allahabad
Reported in : 2001(3)AWC1876
..... of 1970), all the banking companies including the foreign companies registered under the companies act, 1956, were nationalised and more than 51% shares were taken over by the government of india and the banking companies became the body corporate under section 2(d) of act no. ..... 10 of 1949 provides that the provisions of act shall be in addition to, and not, save as hereinafter expressly provided, in derogation of the companies act, 1956, and any other law for the time being in force ..... view of the aforesaidprovision of law, the punjab nationalbank is a government companyunder section 617 of companies act.1956. ..... the bank was registered as a banking company as defined under section 5(c) of the banking regulation act, 1949 (act no ..... the view taken by the courtsbelow that the bank is registeredcompany and, therefore, it isexempted from insolvencyproceedings does not suffer from ..... the bank raised an objection that insolvency petition is not maintainable against the bank in view of section 8 of the provincial insolvency act, 1920, which reads as under ..... clause (d) defines 'corresponding new bank in relation to existing bank' means a body corporate specified against such bank in column 2 of i ..... the enforcement of banking companies (acquisition and transfer of undertakings) act, 1970 (act no. ..... question is whether the bank can claim exemption from insolvency proceedings under section 8 of the act. ..... stated, the facts arethat punjab national bank, branchstation road, moradabad, respondentno. .....
Tag this Judgment!Court : Allahabad
Reported in : (1978)IILLJ457All
..... and held that the regulations having been framed without the previous sanction of the central government as contemplated by section 58 of the act could not be validly framed under the said section and consequently those did not have ..... been provided in sub-clause (1) of section 50 that the central board may, after consultation with the reserve bank and with the previous sanction of the central government, make regulations not inconsistent with the act and the rules made thereunder to provide for all matters for which provision is expedient for the purposes of giving effect to the provisions of this act. ..... above, the service rules in question have not been framed by the central board after consultation within the reserve bank and with the previous sanction of the central government and hence in our opinion they have no statutory character. ..... in fact the supreme court had examined the provisions of the oil and natural gas commission act, 1969, industrial finance corporation act, 1956 and thereafter held that various regulations framed under the respective acts were statutory as the procedure which was required to be followed in framing the said regulations had been followed ..... (1) if regulation 55 which is relevant for the purposes of this case provides as follows :save as provided in sub-regulation (2), and as may be directed by the central board, a local board may exercise all the powers of the state bank in respect of the staff serving in the areas in its jurisdiction.16. ..... taylor [1873] .....
Tag this Judgment!Court : Allahabad
Reported in : (2002)1CompLJ95(All)
..... 5 of 1970), all the banking companies including the foreign companies registered under the companies act, 1959, were nationalised and more than 51 per cent shares were taken over by the government of india and the banking companies became the body corporate under section 2(d) of act no. ..... in view of the aforesaid provision of law, punjab national bank is a government company under section 617 of the companies act. ..... 10 of 1949 provides that the provisions of act shall be in addition to, and not, save as hereinafter expressly provided, in derogation of the companies act, and any other law for the time being in force.7 ..... the bank was registered as a banking company as defined under section 5(c) of the banking regulation act, 1949 (act no. ..... the view taken by the courts below that the bank is registered company and, therefore, it is exempted from insolvency proceedings--does not suffer from any illegality ..... 4 of 1970 act provides that on commencement of the act undertaking of every existing bank shall be transferred to and shall vest in the corresponding new bank.8. ..... the bank raised an objection that insolvency petition is not maintainable against the bank in view of section 8 of the provincial insolvency act, 1920 which reads as under ..... clause (d) defines 'corresponding new bank in relation to existing bank' to mean a body corporate specified against such bank in column 2 of schedule ..... briefly stated, the facts are that punjab national bank, branch: station road, moradabad, the respondent .....
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