Court : Gujarat
Reported in : AIR1962Guj88; (1962)0GLR204
..... the registrar in issuing the circular dated 5th june 1961 and the second opponent in issuing instructions to the third opponent not to admic shrikant to the english medium class purported to act under sections 4 (27) and 38a of the gujarat university act, 1949, and statutes 207, 208 and 209 made by the senate of the gujarat university in 1954 and amended by the senate at the meetings held on 9th, 10th, 30th and 31st march, 1961 ..... denied admission to the inter arts class in which english was the medium of instruction, in purported enforcement of sections 4 (27) and 38a of the gujarat university act, 1949, and statutes 207, 208 and 209 made by the senate under the provisions of the gujarat university act, 1949, the petitioner filed the present petition challenging the legality end vires of sections 4 (27) and 38a and statutes 207, 208 and 209 which stood in the ..... grounds upon which the doctrine of pith and substance is founded and lord porter delivering the judgment of the privy council observed :'moreover, the british parliament when enacting the indian constitution act had a long experience of the working of the british north america act and the australian commonwealth act and must have known that it is not in practice possible to ensure that the powers entrusted to the several legislatures will never overlap. ..... but difficulty often arises because in practice it is not possible to make a clean cut between the powers of the various legislatures: they are bound to over ap from time .....
Tag this Judgment!Court : Chennai
Reported in : AIR1991Mad61; [1994]81CompCas446(Mad)
..... it is the case of the second respondent that necesssary powers regarding inspection and control of the banks under the banking regulation act, 1949 are vested with it and its role and function as an apex body as far as the banking system is concerned, has been considered by the supreme court and the powers conferred on it had been upheld by the courts ..... in para 4 of the affidavit filed in support of the petition, the complaint is vague and generally, directed against the alleged nefarious and corrupt practices which had crept into the affairs of the overseas branches of the first respondent bank. ..... --(1) every corresponding new bank shall observe, except as otherwise required by law, the practices and usages customary among bankers, and, in particular, it shall not divulge any information relating to or to the affairs of its constitutents except in circumstances in which it is, in accordance with law or practicesand usages customery among bankers, necessary or appropriate ..... kanniappan, associate lecturer, government college of arts and crafts, madras, director on the board of directors of the first respondent, nefarious and corrupt practices, have crept into the overseas branches of the first respondent bank. ..... the first respondent is adhering to all the norms of acceptable banking practices and therefore, there is no specifically alleged dereliction of duty on the part of the managing director for the bank to be exposed to the extra-ordinary jurisdiction of article 226 of the .....
Tag this Judgment!Court : Chennai
Reported in : 2000(2)CTC41
..... reserve bank of india : air1962sc1371 , while considering the validity of the banking companies act (1949), sections 38(1) and (b) (iii), the supreme court in paragraphs 18 and 22 respectively observed thus:'but the most important function of the reserve bank ..... is appointed on a whole-time basis and every managing director of a banking company appointed under sub-section (1a) shall be person who has special knowledge and practical experience of (a) the working of a banking company, or of the state bank of india or any subsidiary bank of a financial institution, or (b) finance' ..... it is further stated therein that in order to supervise and regulate the banking sector, it has been vested with certain powers under the banking regulation act to approve the appointment or reappointment of the chairman and of the managing director of a banking company in the interests of the banking company and ..... that apart from that, in paragraph 15 of the affidavit filed in support of the writ petition certain serious complaints have been made against the appellant alleging financial irregularities and mal practices and which has resulted in considerable loss to the fifth respondent bank. ..... per section 10b of the act, a chairman is required to have special knowledge and practical experience of the working of ..... principle that the interest of the company means only the interest of the members and not of those whose livelihood is in practice much more closely involved. ..... perpetuation of the fraudulent practice. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1993Bom155; 1993(1)BomCR660; (1992)94BOMLR716; 1992(2)MhLj1559
..... therefore, on the date of the public auction the corporation was bound to take action under this act of 1949 and in that background it will have to be observed that although the permission of the collector was taken under the maharashtra municipalities act the previous approval of the standing committee was not taken by the commissioner in this case. ..... 128 whereas in chapter viii of the annexure the procedure is provided for effecting the sale, and the provision relating to the nominal bid comes last in both the acts and if that be so, in our judgment, the power to be used by the local body for offering nominal bid should come last and that too after the satisfaction of the local body that in spite of auctions ..... raises an important question about the powers of the municipal corporation under the bombay provincial municipal corporations act, 1949 and that of municipal council under the maharashtra municipalities act, 1965 about offering nominal bid of re. ..... so far bombay provincial municipal corporation act, 1949 is concerned right to sale the property is referred ..... alsourged that it is unlikely that no bidders should turn up for the purchase of property which had practically no encumbrances and which is located in the busy city of thane. ..... disposing of the matter the court was pleased to observe in the following words (at page 197) :--'but while upholding the sale in this case, we should like to point out to government that the practice followed by them is by no means fair or equitable. .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(3)BomCR610; 2009(111)BomLR1874
..... petitioners, in this writ petition, are chartered accountants by profession and are members of the institute of chartered accountants of india set up under the chartered accountants act, 1949 (hereinafter referred to as the 'act'). ..... are matters having serious civil consequences which can even deny a person the right to practice as a chartered accountant by virtue of the powers vested in the council. ..... from section 6(1) of the act, he cannot practice without such certificate. ..... motor vehicles act (1939)expedient - in one sense, 'expedient' (adj) means 'apt and suitable to the end in view', practical and efficient,' 'polite', 'profitable', 'advisable', 'fit, proper and suitable to the circumstances of ..... suspension is bound to have serious consequences upon the business of the agent and tantamounts to practically closing the business of the agent. ..... a member is not entitled to practice unless he has obtained from the council a certificate of practice and has satisfied the other conditions stated ..... out during the course of hearing that the said procedure was adopted as a practice by the disciplinary committee. ..... judicial functions are concerned, they are controlled by codified laws but the administrative and quasi-judicial functions are not only controlled by laws but even by practice. ..... ground on which the council, by an order or by any other reason can direct the name of member to be removed from the register and consequently the member would lose his certificate and the right to practice. .....
Tag this Judgment!Court : Mumbai
Reported in : 1997(3)BomCR4
..... of funds:--- a society shall invest or deposit its funds in one or more of the following: (a) in a central bank or the state co-operative bank, (b) in any of the securities specified in section 20 of the indian trusts act, 1882: (c) in the shares, or security bonds, or debentures, issued by any other society with limited liability and having the same classification to which it belongs : provided that, no society shall invest more than such proportion of its ..... or excepting certain provisions from the main enactment : (2) it may entirely change the concept of the intendment of the enactment by insisting on certain mandatory conditions to be fulfilled in order to make the enactment workable : (3) it may be so embedded in the act itself as to become an integral part of the enactment and thus acquire the tenor and colour of the substantive enactment itself : and (4) it may be used merely ..... the short question that arises for consideration is : whether a co-operative society registered under the multi-state co-operative societies act, 1984 (multi-state act for short) can be recognised and notified by the state government as state co-operative bank, and whether such a co-operative society can be granted a licence ..... short) on 22nd march 1996 to the 5th respondent under section 22(1) read with section 56(o) of the banking regulation act, 1949 (bk.reg. ..... act, 1949 ..... the said act was enacted in 1949 and when enacted did not have any co-operative societies carrying on or intending to carry on .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR16
..... municipal corporation of the city of pune (hereinafter referred as the 'said corporation' for the sake of brevity) established under the bombay provincial municipal corporation act 1949 (hereinafter referred to as 'the bpmc act' for the sake of brevity) is said to have decided to set up what is titled as 'forest garden' (in local language marathi - ..... of such corporation should resolve accordingly, in view of the provisions of the bombay provincial municipal corporation act, 1949 (hereinafter referred to as the 'bpmc act' for the sake of brevity)?b) what is the true and correct scope of provisions of section 7 of the land acquisition act 1894 (hereafter referred to as 'the said act' for the sake of brevity)?c) whether the award is declared in breach of provisions of section ..... are unsustainable on the ground that the same are initiated without complying with the provisions of section 128 of the mahrashtra regional and town planning act 1960 act?g) whether the land acquisition officer (15) pune was not legally competent to conduct the land acquisition proceedings in issue in the present cases?h) whether ..... is filed before declaration of award, validity of notification under section 6 alone is questioned on the following amongst other grounds:a) non-compliance with section 128 of the mrtp act,b) the special land acquisition officer (15) pune was not competent to conduct the acquisition proceedings.during the course of arguments the learned counsel appearing on behalf of the petitioner .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1985)47CTR(AP)224; [1985]151ITR703(AP)
..... it needs no reiteration that a banking company has to carry on its business in accordance with the provisions of the banking regulation act, 1949; and the business so carried on is the normal and usual method of carrying on banking business. ..... we shall now proceed to discuss the first question : parliament has enacted the banking regulation act, 1949, to consolidate and amend the law relating to banking. ..... section 24 of the banking regulation act, 1949, requires every banking company to 'maintain in india in cash, gold or unencumbered approved securities, valued at a price not exceeding the current marker price, an amount which shall not at the close of business on any day be less than 20 ..... 24 of the banking regulation act, 1949, in the interest of the public and the larger interest of banking industry itself ..... malabar co-operative central bank limited - the assessee concerned therein - was also governed by the banking resolution act, 1949. ..... it is a banking company whose activity is regulated, inter alia, by the banking regulation act, 1949. ..... the revenue has been accepting this practice over certain years in the past. ..... 24 does is to insist on observance of a normal prudent banking business practice. ..... 24 of the banking regulation act being a statutory obligation can be treated as a transaction in the course of carrying on of trade ?' 3 ..... the act contains several provisions regulating the conduct of banking business ..... act, one at the instance of the assessee and the other at the instance of the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : II(2003)BC680
..... society does not satisfy the requirements of a primary co-operative bank, continues to be a primary co-operative bank under the provisions of the banking regulation act, 1949 and carry on the business of banking with the approval of the reserve bank of india and subject to the conditions of the reserve bank of india may specify in that behalf. ..... societies carrying on banking business at the commencement of the banking laws (application to co-operative societies) act, 1965, or at any time thereafter; or(iii) a primary credit society which becomes a primary co-operative bank after such commencement from carrying on banking business untill it is granted a licence in pursuance of this section or is, ..... 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 division of any other co-operative society carrying on business as a co-operative bank, or the amalgamation of two or more co-operative ..... sound banking practices and principles the parliament thought it necessary to extend the banking regulation act with suitable modifications to cooperative societies and that led to act 23 of .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1997MP27
..... it is well established that an appeal is the continuation of the suit and therefore, the section 21a of the banking regulation act, 1949 would apply to facts of the case when the learned single judge exercised his appellate power under section 96 of the code of civil procedure. ..... therefore the learned single judge should have applied section 21a of the banking regulation act, 1949 and held that 'the act' of 1918 was not applicable to a transaction between the appellant and respondents. ..... we therefore, hold that amended section 21a of the banking regulation act, 1949 would be applicable at the appellate stage too and the court must pass a decree in accordance with the changed law. ..... the power under 'the act' was cut down by section 21a of banking regulation act, 1949, with effect from 15-2-1984 in respect of banking companies on the ground that rate of interest is excessive. ..... since we have held that section 21a of the banking regulation act, 1949 applied at the time of passing decree appeal the court cannot apply 'the act' for any purpose. ..... thus, the question is whether is the first appeal, the court can interfere with the decree of trial court on the basis of section 21a of the banking regulation act, 1949, which came into force on 15-2-1984.9. ..... otherwise, the result would be startling in case the learned single judge remanded the case, the trial court would be compelled to take notice of section 21a of the banking regulation act, 1949, and pass decree accordingly. .....
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