Judgment Search Results Home > Cases Phrase: reserve bank of india act 1934 2 of 1934 section 46a contribution to national rural credit long term operations fund and national rural credit stabilisation fund Page 1 of about 1 results (0.121 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, ..... section 36 empowers the reserve bank to caution or prohibit banking companies generally or any banking company in particular against entering into any particular transact ion or class of transaction, and generally give advice to any banking company; to give assistance to any banking company by means of the grant of a loan or advance to it under clause (3) of sub-section (1) of section 18 of the reserve bank of india act, 1934 ..... on the other hand, we feel that in such matters relating to banking transactions the law and practice of banking and the relevant provisions of the reserve bank of india act, the banking regulation act, and the companies act including the provisions for preparation of accounts and their audit, would take sufficient care of the loans granted at the 'loan ..... rbi has been constituted under the provisions of the reserve bank of india act, 1934, hereinafter referred to as 'the act', to regulate the issue of bank notes and the keeping of reserves with a view to securing monetary stability in india and generally to operate the currency and credit system of the country to its advantage. .....

Bank of India, Express Towers, Nariman Point Bombay-400 021 and Having ...

Court : Chennai

Reported in : 2000(4)CTC147

..... this civil revision petition is directed against the order of the company law board, chennai dated 21.3.2000 sanctioning a scheme under section 45qa of the reserve bank of india act, 1934 in the matter of kirloskar investments and finance limited, bangalore. ..... objections to the maintainability is twofold (a) the impugned order passed by the company law board being one under section 45qa of the reserve bank of india act, 1934,, an appellate remedy is provided under section 10f of the companies act, 1956. ..... perusal of the order of the company law board discloses that the board has been receiving large number of complaints from depositors under section 45qa of the reserve bank of india act for the payment of deposits against m/s. ..... the reserve bank of india has also submitted their comments onthe scheme proposed by the company law ..... in that judgment, the supreme court has considered the expression 'the high court' in section 10-f of the companies act and held that it would mean 'the high court' having the jurisdiction in relation to the place at which the registered office of the company concern was ..... the bank of india being one of the secured creditors and intervener before the company law board, is the revision petitioner before this ..... bench after consideringthe scheme directed the company to publish the salient features of the schemein the newspapers and also to serve a copy of the scheme to the reserve bankof india, registrar of companies and other institutions inviting theircomments. .....

Muhammed Usman Vs. Registrar of Co-operative Societies

Court : Andhra Pradesh

Reported in : II(2003)BC680

..... reserve bank of india act, 1934 (act 2 of 1934), national bank for agricultural and rural development act, 1981 generally known as nabard act (act 61 of 1989) and the deposit insurance and credit guarantee corporation act, 1961 (act ..... sub-sections (1) and (2), a co-operative society carrying on business as a primary co-operative bank at the commencement of the banking laws (application to co-operative societies) act, 1965, or a cooperative society which becomes a primary co-operative bank after such commencement shall, notwithstanding that it does not at any time thereafter satisfy the requirements of the definition of primary co-operative bank in clause (ccv) of section 5, continue to be a primary co-operative bank within the meaning of this act, and may, with the approval of the reserve bank and subject to such terms and conditions as the reserve bank may specify ..... operative bank' means a co-operative society, other than a primary agricultural credit society:(1) the primary object or principal business of which is the transaction of banking business;(2) the paid-up share capital and reserves of which are not less than one lakh of rupees; and(3) the bye-laws of which do not permit admission of any other co-operative society as a member:provided that this sub-clause shall not apply to the admission of a co-operative bank as a member by reason of such co-operative bank subscribing to the share capital of such co-operative society out of funds ..... term/ medium term, 1-b is long term and .....

Joseph Kuruvilla Vellukunnel Vs. the Reserve Bank of India and ors.

Court : Supreme Court of India

Reported in : AIR1962SC1371; [1962]32CompCas514(SC); [1962]Supp3SCR632

..... preamble of the reserve bank of india act is that is has been constituted with a view to ensure monetary stability in india and to operate the currency and credit system of ..... (3) the reserve bank may make an application under this section for the winding up of a banking company - (a) if the banking company - (i) has failed to comply with the requirements specified in section 11; or (ii) has by reason of the provisions of section 22 become disentitled to carry on banking business in india; or (iii) has been prohibited from receiving fresh deposits by an order under clause (1) of sub-section (4) of section 35 or under clause (b) of sub-section 3(a) of section 42 of the reserve bank of india act, 1934 or; (iv) having failed to comply with any requirement of this act other than the requirements laid down in section 11, has ..... (2) the central government, after considering the application made by the reserve bank under sub-section (1) may make an order of moratorium staying the commencement or continuance of all action and proceedings against the company for a fixed period of time on such terms and conditions as it think fit and proper and may from time to time extend the period so however that the total period of moratorium ..... rural bank began to arrange its business like a commercial bank it must necessarily be judged by the same standard, and the affairs of the palai bank, in our opinion, had long left behind the rural character, and had emerged into those of a modern commercial bank .....

Reserve Bank of India Through the Governor of the Reserve Bank of Indi ...

Court : Allahabad

Reported in : AIR1963All574

..... with the foundation of the reserve bank of india on 1st or april, 1935, the sole right to issue bank notes was conferred upon that bank under section 22 of the reserve bank of india act, 1934. ..... . sapru that whether or not payment should be made in respect of a stolen, lost, mutilated or imperfect note depends upon the opinion of the prescribed officer and so long as he does not act mala fide and conforms to the principles of natural justice and further follows the procedure provided by the rules his decision would not ordinarily be justiciable, iscorrect ..... to defraud, he shall, notwithstanding anything to the contrary in any of these rules, reject the claim.'10. it has been contended that the rule which is a statutory one has left the matter in the discretion of the prescribed officer and so long as he cannot be accused of having acted mala fide orders passed by him under rule 5(a) cannot be challenged in any court of law ..... . a temporary separation by being torn or being cut in two parts' may be mutilation so long as the two parts are separate but no sooner they are joined together they become a whole and cannot be described by the term 'mutilated' .....

M/S. Thiru Muruga Finance Rep. by Its Partner Sri V. Thirunavukkarasu, ...

Court : Chennai

Reported in : 2000(2)CTC609

..... act, 1956 or a corporation or a co-operative society owned or controlled by any state government or the central government, or a banking company as defined under section 5(c) of the banking regulation act, 1949 or a non-banking financial company as defined in clause (f) of section 45-i of the reserve bank of india act, 1934 ..... contributed as capital by partners of a firm;(iii) amounts received from a scheduled bank or a co-operative bank or any other banking company as defined in clause (c) of section 5 of the banking regulation act, 1949 (10 of 1949);(iv) any amount received from,-(a) the development bank,(b) a state financial corporation,(c) any financial institution specified in or under section 6a of the industrial development bank of india act, 1964 (18 of 1964), or(d) any other institution that may be specified by the ..... subscriptions in respect of a chit.explanation i: 'chit' has the meaning assigned to it in clause (b) of section 2 of the chit funds act, 1982 (40 of 1982).explanation ii: any credit given by a seller to a buyer on the sale of any property (whether movable or immovable) shall ..... with imprisonment for a term which may extend to ten years and with fine which may extend to one lakh of rupees and such financial establishment is also liable for fine ..... and comprehensive, it was not long before it was found that the topics enumerated in the two sections overlapped, and the privy council had time and again to pass on the constitutionality of laws made by the dominion .....

Shri Vijay C. Puljal Vs. State of Maharashtra and ors.

Court : Mumbai

Reported in : 2005(5)BomCR481; (2005)107BOMLR983; [2005]128CompCas196(Bom); 2005(4)CTC705; 2005(4)MhLj5; [2005]64SCL589(Bom)

..... of sub-section (3) every deposit accepted by a company at the commencement of the amending act of 1974, in accordance with the directions of the reserve bank of india under chapter iii-b of the reserve bank of india act, 1934, became liable to be repaid in accordance with the terms and conditions of ..... the guidelines given, and regulations made, by the sebi, established under the securities and exchange board of india act, 1992 (15 of 1992);-(ii) amounts contributed as capital by partners of a firm;-(iii) amounts received from a scheduled bank or a cooperative bank or any other banking company as defined in clause (c ) of section 5 of the banking regulation act,1949 (10 of 1949);-(iv) any amount received from, -(a) the industrial development bank of india,(b) a state financial corporation,(c) any financial institution specified in or under section 6-a of the industrial development bank of india act, 1964 (18 of 1964 ..... defined in section 2(d) as follows :'(d)' financial establishment' means any person accepting deposit under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any state government or the central government or a banking company as defined under clause (c ) of section 5 of the banking regulation act, 1949 (10 of 1949)'.section 3 of the act creates an offence in respect of a fraudulent default in the repayment of a deposit on maturity and provides for imprisonment upto six years and fine. .....

Reserve Bank of India Vs. Piramal Financial Services Ltd.

Court : Gujarat

Reported in : (2000)4GLR700

..... act in this behalf.7.1 reserve bank of india act, 1934 (act 2 of 1934)has been enacted to constitute reserve bank of india.section ..... for non-banking financial companies(nbfcs) and as such it has power under chapter iii-a i.e.collection and furnishing credit information as amendedby reserve bank of india (amendment) act, 1997 whichinclude ..... and to foreclose a repeat performance of a robinhood drama in reverse (here the poor are robbed to pay the rich) can it not be ensured that no company which has not obtained a certificate of solvency (to be procured within 3 or 6 months of the close of every accounting year) from the company law authorities or the reserve bank authorities is permitted to issue advertisements inviting the public to join the scheme and from collecting subscriptions, contributions ..... operation ofany rules framed under the banking companies act, 1949 orthe insurance act, 1938, or other special acts relatingto any class of companies and these rules shall apply tosuch companies subject to the rules, if any, made underthe special acts ..... fund) 1078.60 1078.40accumulated loss 184.75 287.57owned funds (net) 893.65 790.83total assets 3666.25 3424.17total outside liabilities 2581.50 2442.12pre-tax profit/(loss) 187.89 102.82----------------------------------------------------------------2.3 it was further stated that the reserve bank ofindia had issued show cause notice dated 6.9.1999 to thecompany as to why the certificate of registration issuedto the company under section .....

Mayavaram Financial Corporation Ltd. and ors. Vs. Reserve Bank of Indi ...

Court : Chennai

Reported in : [1971]41CompCas890(Mad)

..... banking regulation act, 1949 (10 of 1949), or from a co-operative bank as defined in clause (vii) of section 2 of the reserve bank of india act, 1934 (2 of 1934), or from any person registered under any law relating to money-lending which is for the time being in force; (iv) any loan received from the industrial development bank of india established under the industrial development bank of india act, 1964, or the industrial finance corporation of india established under the industrial finance corporation act, 1948, or a state financial corporation established under the state financial corporations act, 1951, or the industrial credit and ..... or any money received from a member by way of subscription to any shares, stock, bonds and debentures (including calls or deposits received in advance); (viii) in the case of a chit fund company, or any other company carrying on chit or kuri business, any subscriptions received from the members of a chit or kuri series in terms of the contract, variola or other arrangement relating thereto, and in the case of a stock exchange or stock broking company, any money received in connection ..... chit amount, to receive and realise all contributions from the subscribers and to distribute the prize amounts to the prized subscribers and the dividend among the subscribers, to demand sufficient security from any prized subscriber for the due payment of future subscriptions and to substitute subscribers in the ..... custody and management of the nation's reserves of .....

S.L. Ball Vs. M.S. Chopra

Court : Delhi

Reported in : ILR1971Delhi637

..... having regard to the object and provisions of the act, there is no scope for insisting that the principles of natural justice require that before the reserve bank of india grants permission to a decree-holder under section 21 (3) (c) of the act for executing the decree it must give an opportunity to the judgment-debtor and hear him. ..... any sum which, apart from the said provisions and any such ..... to section 21(3) of the act which may be reproduced in full for the purposes of this case because it is also relevant for the other substantive objection '21.contracts in evasion of this act (3)neither the provisions of this act nor any term (whether expressed or implied) contained in any contract that anything for which the permission of the central government or the reserve bank is required by the said provisions shall not be done without that permission, shall prevent legal 'proceedings being brought in (india) to recover .....