Court : Supreme Court of India
..... any company which is engaged in the manufacture of goods or carries on any trade and which accepts deposits of money from the public merely for the purpose of financing its business as such manufacturer or trader shall not be deemed to transact the business of banking within the meaning of this clause; xxx xxx xxx section 45a (a) of the reserve bank of india act, 1934 45a(a) banking company means a banking company as defined in section 5 of the banking regulation act, 1949, and includes the state bank of india, any subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959, any corresponding new bank constituted by section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970, and any ..... however, since there is a list of scheduled foreign banks in india categorized separately in the second schedule by gazette notifications, it may be presumed that all other banks listed in the second schedule in the various categories except the category of scheduled foreign banks, that is, scheduled public sector banks, scheduled private sector banks, scheduled small finance banks, scheduled payments banks, scheduled regional rural banks are all scheduled indian banks, even though scheduled indian banks do not constitute any distinct category in the second schedule to the rbi act. .....
Tag this Judgment!Court : Supreme Court of India
..... 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 ..... for effecting moratorium and sanctioning interest free loans revisions on the guidelines of sections 21 and 35a securitisation of standard assets securitisation transactions of the banking clause 1.2: minimum holding period incorporated in the reserve regulation act, loans to be securitised only after bank of india (securitisation 1949; chapter iiib minimum holding period of standard assets) of the reserve bank clause 1.3: minimum retention directions, 2021 of india act, 1934 requirement (mrr) nbfc to have continued stake in ..... banking institution receiving deposits shall, if so required by the bank and within such time as the bank may specify, cause to be sent at the cost of the non banking institution a copy of its annual balance sheet and profit and loss account or other annual accounts to every person from whom the non banking institution holds, as on the last day of the year to which the accounts relate, deposits higher than such sum as may be specified by the bank.6.16 section .....
Tag this Judgment!Court : Supreme Court of India
..... to the larger bench of five-judges arises out of the writ petitions filed challenging the notification no.3407(e) dated 8th november 2016 (hereinafter referred to as the impugned notification ), issued by the central government in exercise of the powers conferred by sub-section (2) of section 26 of the reserve bank of india act, 1934 (hereinafter referred to as the rbi act ), vide which the central government declared that the bank notes of denominations of the existing series of the value of five hundred rupees and one thousand rupees shall cease to be legal tender with effect from 9th november 2016, to the extent specified in the impugned ..... b) that with a view to enable the bank to perform the role spelt out above, the act authorises it to carry on and transact businesses, as enlisted under section 17 of the act; confers under section 22, sole and exclusive right on the bank to issue bank notes in india, except in relation to notes of denomination, rs.1; recognises under section 26 (1) that every note issued by the bank shall be a legal tender; vests with the central board of the bank the power to recommend to the central government to declare any series of bank notes of any denomination, to cease to be legal tender, under section 26 (2) of the act; prohibits under section 38 any money from being put into .....
Tag this Judgment!Court : Supreme Court of India
..... (3a) before granting any licence under this section to a company incorporated outside india, the reserve bank may require to be satisfied by an inspection of the books 24 of the company or otherwise that the conditions specified in sub-section (3) are fulfilled and that the carrying on of banking business by such company in india will be in the public interest and that the government or law of the country in which it is incorporated does not discriminate in any way against banking companies registered in india and that the company complies with all the provisions of this act applicable to banking companies incorporated outside india. ..... that in the instant case, the appellant is not a licenced company under the provisions of the reserve bank of india act, 1934 ( rbi act , for short) as the appellant does not transact banking business and therefore, does not require any licence under the rbi act. .....
Tag this Judgment!Court : US Supreme Court
..... in the present instance, we can collect from the evidence of the referee, as shown in the exceptions, the fact necessary to raise some of the questions contained in the objections to the award without being involved in the dispute between the parties as to the condition in which the reserved stock had been placed by the corporation. ..... contains a general averment that he entered upon the construction of the railroad and the performance of all the matters and things upon his part to be done and performed, and had performed all the things required to be done and performed, until the 19th of august, 1852, and had nearly completed one of the sections of the road so as to be fit for use, and that it had been used; also that he had expended large sums towards the engineering, surveys, construction, and grading of other ..... before a trial, the parties agreed to refer the action to the determination of three persons, to be appointed by the court, whose report or the report of any two was to be made as soon as may be, and that judgment thereon was to be final and execution to issue accordingly. ..... afterwards, one of the persons appointed was authorized to act alone, and this person returned a decision in favor of the defendant, myers, for an ascertained sum as damages. ..... american bank, 7 met. .....
Tag this Judgment!Court : US Supreme Court
..... and in a subsequent part of the same section, the act authorizes the corporation "to prescribe the terms and conditions upon which free negroes and mulattoes may reside in the city. ..... the limited reservation of legislative power to the officers of the federal government was excused on the plea of necessity, and the probability is that the clauses respecting slavery embody some compromise among the statesmen of that time; beyond these, the distinguishing features of the system which the patriots of the revolution had claimed as their birthright from great britain predominated in ..... one may confine the right of suffrage to white male citizens; another may extend it to colored persons and females; one may allow all persons above a prescribed age to convey property and transact business; another may exclude married ..... his message, he speaks as a wise statesman and chief magistrate, as follows: "waiving the question of the constitutional authority of the legislature to establish an incorporated bank as being precluded, in my judgment, by the repeated recognitions under varied circumstances of the validity of such an institution in acts of the legislative, executive, and judicial branches of the government, accompanied by indications, in different modes, of a concurrence of the general will of the nation. ..... these cases were cited with much approbation in the discussion of the claims of the west india slaves of verdelin for freedom, in 1738, before the judges in admiralty, 15 causes celebres p .....
Tag this Judgment!Court : US Supreme Court
..... joseph moreau at my residence; that said francis dunegant and the said francois moreau declared and requested to make his last will, which he pronounced to us in a loud and intelligible voice, as follows &c;:" " among other provisions, the testator names his son joseph universal legatee, and afterwards declares it is with the reserve, that he shall reimburse to each of his brothers and sisters $27 silver out of the estate of their deceased mother, and it is declared that ..... therein made, and because there was evidence before the court to show that the devisee had not accepted the estate under the will, but had renounced it, which objections to the will were sustained by the court, and the will was not admitted in evidence, to which ruling of the court the plaintiffs then and there excepted. ..... an act "prescribing the time for commencing actions," approved march 10, 1835, revised code, 396, it is declared in the 11th section that "the provisions of this act shall not apply to any action commenced, nor to any cause where the page ..... and further find that in the year 1818, mallette and pierre cerre, husbands of said daughters, made the deed read in evidence by the defendants, then, under the evidence in this cause, the jury may presume that said daughters gave the administration of said paraphernal property to their husbands and that the same was alienated with their ..... the common law was adopted in the missouri territory in 1816, and consequently it governs all subsequent legal transactions .....
Tag this Judgment!Court : US Supreme Court
..... the difficulty arose from the circumstance that this part of the country was not included in the general land system, under which the land reserved for schools is at once ascertained, without the possibility of mistake. ..... 282 case raised a legal presumption that the said register of the land office at marietta had exercised the authority so vested in him by said act of march 18, 1818, prior to the entry and patent under which the plaintiff claims title, by legally selecting the lands in controversy in this suit (with other lands) for the support of schools in said township nine, in range eleven, and it was therefore their duty to return a verdict for the defendant. ..... " the first instruction assumes that the act of 1818 authorized the register to select the school lots in the donation tract, whereas the third section of the act of march 3, 1803, conferred the exclusive power on the secretary of the treasury, and therefore the instruction is erroneous. ..... but then the 16th section is a designated portion of land that may result from an execution of the public surveys made by the united states according to the rules and regulations congress had made or might make. ..... if they are of good quality and favorably situated, a jury may be satisfied that, had they been page 62 u. s. ..... what weight this may have it will be proper to leave to the jury. .....
Tag this Judgment!Court : US Supreme Court
..... stipulated by the ..... the tonawanda reservation, was not owned by the seneca indians; that by a treaty made with the united states on the 20th of may, 1842, the seneca nation of indians had by indenture set forth in the treaty conveyed to thomas ludlow ogden and joseph fellows this tract of land, with others; that this grant was duly confirmed by the state of massachusetts, pursuant to the provisions of the act of cession made between that state and the state of new york, on the 16th of december, 1786; that the whole amount of the consideration ..... 366, that this treaty has made no provision as to the mode or manner in which the removal of the indians or the surrender of their reservations was to take place; that it can be carried into execution only by the authority or power of the government which was a party to it. ..... this case is brought before us by a writ of error to the supreme court of new york under the 25th section of the judiciary act. .....
Tag this Judgment!Court : US Supreme Court
..... the act of april 26th, 1822, validated locations of new madrid certificates then existing and which had been made in advance of the public surveys, but the second section of the act declared that future locations should conform to the public surveys, and that all such warrants should be located within one year after the passage of that act. ..... whether or not the title acquired under the preemption is valid is a question not now before this court, because the case is brought up from the supreme court of arkansas under the twenty-fifth section of the judiciary act, and the decision of that court was in favor of the validity of the action of the register and receiver, and moreover the opposing party cannot set up an outstanding title in the united states. ..... admitting it to be true that the act of april, 1832, was passed when no individual claimant had a vested right to enter the land in dispute, still the 25th section of the judiciary act only gives jurisdiction to this court in cases where the decision of the state court draws in question the validity of an authority exercised under the united states and the decision is against its validity. ..... but this is of little consequence, as when the act of april, 1832, was passed reserving the hot springs from sale, percifull had no vested interest in the land that a court of justice could recognize. ..... this claim was under the preemption act of congress of the 29th of may, 1830, 4 stat. .....
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