Judgment Search Results Home > Cases Phrase: national bank for agriculture and rural development act 1981 section 18 transfer of business from reserve bank Page 1 of about 434 results (0.382 seconds)

Sri. Jogendra Nama and ors. Vs. Union of India (Uoi) and ors.

Court : Guwahati

..... under section 46a the rbi shall contribute every year such sums of money as it may consider necessary and feasible to do so to the national rural credit (long term operations) fund and the national rural credit (stabilisation) fund established and maintained by the national bank under sections 42 and 43, respectively of the national bank for agriculture and rural development act, 1981. ..... ordinary banking business, accordingto sayers, consists of changing cash for bank deposits and bank deposits for cash;transferring bank deposits from one personor corporation to another; granting of loans; giving bank deposits in exchange for bills of exchange, etc. ..... in his 'central banking', a central bank being generally recognised as a bank which constitutes the apex of the monetary and banking structure of its country and which performs, as best as it can in the national economic interest, the following functions : the regulation of currency in accordance with the requirements of business and the general public for which purpose it is granted the sole right of note issue; the performance of general banking and agency services for the state; the custody of cash reserves of commercial banks; the custody and management of the nation's reserves of international currency .....

Nedumpilli Finance Company Limited Vs. State Of Kerala .

Court : Supreme Court of India

..... development bank of india established under the industrial development bank of india act, 1964 (central act 18 of 1964); (v) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 (central act 5 of 1970); 11 (vi) a regional rural bank established under the regional rural banks act, 1976 (central act 21 of 1976); (vii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1980 (central act 40 of 1980); (viii) the export import bank of india established under the export import bank of india act, 1981, (central act 28 of 1981); (ix) the national bank for agriculture and rural development established under the national bank for agriculture and rural development act, 1981 (central act 61 of 1981); (x) the industrial reconstruction bank ..... a new chapter is proposed to be introduced in the reserve bank of india act for enabling that bank to obtain returns and information from (a) certain financial institutions, namely, firms, companies or other bodies corporate which are financing trade, industry, commerce or agriculture, or are carrying on as a part of their business the acquisition of shares, stocks, bonds, debentures or other securities, or are engaged mainly in the financing of hire purchase transactions and (b) non banking institutions accepting deposits from members of the general public. .....

Maharashtra State Co-operative Bank Limited and anr. Vs. the State of ...

Court : Mumbai

Reported in : 1997(3)BomCR4

..... by the present writ petition under article 226 of the constitution of india, the petitioners have challenged the legality and validity of the notification dated 30th december 1995 issued by the state of maharashtra purportedly under section 2(u) of the national bank for agricultural and rural development act, 1981 (nabard act for short) declaring respondent nos. 5 i.e. ..... on 30th december 1995 the state government by issuing a notification designated the 5th respondent as an additional state co-operative bank for the state of maharashtra under section 2(u) of the nabard act at which point of time for want of necessary licence from rbi, the 5th respondent was not carrying on banking business. ..... was agreeable for registration of the 5th respondent bank provided that it would not be an eligible institution for the purpose of keeping cash reserve ratio and statutory liquidity ratio deposits under section 18 and 24 of bk. ..... commissioner for co-operation and registrar, co-operative societies, maharashtra state, advising/directing deploying of funds by all urban co-operative banks under section 70 of the maharashtra co-operative societies act, 1960, (state co-operative act for short) and the licence given by the reserve bank of india (r.b.i. ..... 1 is also a scheduled bank under the reserve bank of india act. ..... 'accordingly, the reserve bank, on the basis of that notification issued by the state of maharashtra, granted a licence to respondent no. .....

The Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd. V ...

Court : Supreme Court of India

Reported in : AIR2004SC141; 2004(5)ALLMR(SC)26; [2003]117CompCas618(SC); JT2003(8)SC170; 2003(9)SCALE84; (2003)11SCC66; [2003]48SCL319(SC); 2004(1)LC441(SC); (2004)1UPLBEC341

..... by a notification dated 30th december, 1995, issued by the state of maharashtra the appellants were declared as a state co-operative bank within the meaning of section 2(u) of the national bank for agriculture and rural development act, 1981 (hereinafter referred to as the nabard act). ..... such commencement shall before the expiry of three months from the date on which it so becomes a primary co-operative bank and every co-operative society other than a primary credit society shall before commencing banking business in india, apply in writing to the reserve bank for a license under this section :provided that nothing in clause (b) of sub-section (1) shall be deemed to prohibit -(i) a co-operative society carrying on business as a co-operative bank at the commencement of the banking laws (application to co-operative societies) act, 1965; or(ii) a co-operative bank which has come into existence as a result of the .....

Areva T and D India Ltd. Vs. Assistant Commissioner of Income Tax and ...

Court : Chennai

Reported in : (2008)220CTR(Mad)156; [2009]177TAXMAN192(Mad)

..... april, 2002, by the national housing bank established under sub-section (1) of section 3 of the national housing bank act, 1987 (53 of 1987) or by the small industries development bank of india established under sub-section (1) of section 3 of the small industries development bank of india act, 1989 (39 of 1989).from a reading of the above, it is clear that long-term specified asset means any bond redeemable after three years and issued on or after the 1st april, 2000 by the national bank for agriculture and rural development established under section 3 of the national bank for agriculture and rural development act, 1981 or by the national highways authority of india constituted under section 3 of the national highways authority of india ..... therefore, the board of directors of the petitioner company approved a scheme of arrangement under sections 391 and 394 of the companies act for reconstruction of the petitioner company by transfer of its non-t&d; business as a going concern to its subsidiary for a consideration of rs. ..... after the takeover, since areva desired to focus only on t&d; business and since alstom group desirous of retaining its interest in the non-t&d; business, it was decided to reorganize and reconstruct the petitioner company by transferring the non-t&d; business to its subsidiary company named alstom industrial products ltd. .....

Malathi J. Rai W/O Jaganatha Rai Vs. Suhara Abbas Ali W/O Abbas Ali an ...

Court : Kerala

Reported in : AIR2008Ker7; 2007(3)KLJ289

..... it is true that section 4(3) of the act allows the board of the kerala co-operative agricultural and rural development bank to borrow money by way of loans from the government, the nationalised bank for agricultural and rural development, the reserve bank of india or such financial institutions as may be approved by the trustee. ..... section 8 states as follows:subject to the provisions of this act and the rules made thereunder, it shall be competent for the agricultural and rural development bank and the primary banks to advance loans for the following purposes:(a to h omitted)section 9(1) provides for advance of loans by such banks on security of lands and other fixed assets. ..... the nabard and reserve bank of india have been incorporated under the national bank for agricultural and rural development act and reserve bank of india act, respectively. ..... sub-section (3) of section 10 provides for a restriction on transfer of the movable or immovable property or land or movable assets to be acquired in the loan or advance provided in the above declaration without the consent of the primary bank until the entire amount of the loan or advance taken by the member from the primary bank, together with interest thereon, has been paid to the bank. ..... it cannot be said that a shareholder owns the property of the corporation or carries on the business with which corporation is concerned. .....

Chairman, Ganga Yamuna GramIn Bank and ors. Vs. Devi Sahai

Court : Supreme Court of India

Reported in : AIR2009SC2126; [2009(121)FLR386]; (2009)IILLJ508SC; 2009(3)SCALE80; (2009)11SCC266; 2010(1)SLJ145(SC):2009AIRSCW2715:2009(4)LHSC2383

..... 1 of 1988 which came into force with effect from 28.9.1988 in terms whereof `national bank' was defined in section 2(ca), to mean:(ca) 'national bank' means the national bank for agriculture and rural development established under section 3 of the national bank for agriculture and rural development act, 1981.4. ..... however, even prior thereto `national bank for agricultural and rural development (nabard)' being the national bank, which although had nothing to do with statutory functioning of the regional rural banks, allegedly, on requests made by board of directors of several regional banks issued guidelines, stating:we have been receiving a number of references from chairmen of rrbs requesting us for guidance on disciplinary procedure to be adopted by rrbs for disciplinary action against their staff. ..... the board of directors of the appellant- bank in exercise of its powers conferred upon it under section 30 of the act after consultation with the state bank of india (sponsor bank) and reserve bank of india and with the previous sanction of the central government framed regulations known as 'ganga yamuna gramin bank staff service regulations, 1985' laying down the terms and conditions of service of its employees. ..... in any event, respondent did not participate in the inquiry.the learned counsel, however, submitted that a situation was created by transferring the respondent to uttar kashi as a result whereof he could not participate in the inquiry. .....

Motor Industries Company Ltd., a Company Registered Under the Indian C ...

Court : Karnataka

Reported in : [2007]289ITR134(KAR); [2007]289ITR134(Karn)

..... established under section 3 of the national bank for agriculture and rural development act, 1981 or by the national highways authority of india constituted under section 3 of the national highways authority act, 1988;(ii) on or after the 1st day of april, 2001 ..... section (1), a deduction from the amount of income tax with reference to such cost shall not be allowed under section 88.explanation - for the purposes of this section, -(a) 'cost', in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset;[(b)'long term specified asset' means any bond redeemable after three years, issued, -(i) on or after the 1st day of april, 2000, by the national bank for agriculture and rural development ..... to be charged on investment in certain bonds -(1) where the capital gain arises from the transfer of a long-term capital asset (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified .....

Motor Industries Company Ltd. Vs. Union of India (Uoi) and ors.

Court : Karnataka

..... specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset;(b) 'long-term specified asset' means any bond redeemable after three years, issued,-(i) on or after the 1st day of april, 2000, by the national bank for agriculture and rural development established under section 3 of the national bank for agriculture and rural development act, 1981 (61 of 1981) or by the national highways authority of india constituted under section 3 of the national highways authority of india act, 1988 (68 of 1988);(ii) on or after the 1st day of april, 2001, by the ..... if an assessee has made investment from out of the profits arising from the transfer of 'long-term capital assets' in the notified bonds in terms of section 54ec of the act, then such income otherwise taxable as gains from the transfer of an asset is exempted from tax in terms of section 54ec of the act. ..... is to say,-(a) if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the original asset, the whole of such capital gain shall not be charged under section 45;(b) if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost .....

Naganath and ors. Vs. Common Cadre Committee and ors.

Court : Karnataka

Reported in : ILR2001KAR1716; (2001)ILLJ655Kant

..... these are primary rural credit societies within the meaning of clause (n) of section 2 of the national bank for agriculture and rural development act, 1981 (in short 'the nabard' act). ..... the primary societies draw loans from the central bank which in turn obtains refinance facilities from kscab based on the credit limit sanctioned by the national bank for agriculture and rural development established under the nabard act.re: status and functions of the secretaries 9. ..... , bidar, the federal society in respect of primary agricultural credit co-operative societies in bidar district to exercise the power of appointment, transfer and disciplinary action in respect of secretaries; 2) do hereby frame regulations as appended to this order which is necessary for the federal society for exercising the power of appointment, transfer and disciplinary action in respect of secretaries of primary societies; 3) do hereby require the primary societies and the bidar district central co-operative bank ltd. ..... the above order annexure-c contains an appendix providing for 'regulations regarding appointment, transfer and disciplinary action' (in short the 'regulation') in respect of the secretaries of primary agricultural credit co-operative societies in bidar district. .....