Court : Delhi
Reported in : 2003(66)DRJ306
..... further, the local board under section 21b of the state bank of india act, 1955, is required to consider and examine various important matters relating to business transactions and other functions of the bank in its areas of operation. ..... although, the chief general manager is an ex-officio member of the local board, he has to, in accordance with the principle of natural justice, abstain from the meeting of the local board while considering appeals against major penalty as he was the authority who passed the order of penalty. ..... as a result, the necessary quorum for the local board meeting for considering the appeals is at times not available..... ..... pursuant to the above memorandum dated 29th march 1989, the following decision was communicated to all the concerned authorities on 8th april, 1989:'the executive committee of the central board at its meeting held today has decided that the deputy managing director (personnel and systems) will be the appellate authority in respect of the appeals preferred by officers in imgs i and mmgs ii serving in a circle, against the orders of major ..... a copy of our memorandum dated march 29, 1989, put up to the executive committee of the central board and approved by it at its meeting held today is enclosed for your information and record. .....
Tag this Judgment!Court : Delhi
Reported in : 103(2003)DLT595; (2003)IILLJ627Del; 2003(1)SLJ229(Delhi)
..... result the necessary quorum for the local board meeting for considering the appeals is at times not available........further, the local board under section 21b of the state bank of india act, 1955 is required to consider and examine various important matters relating to business transactions and other function of the bank in its areas of operation. ..... acting upon the report of the enquiry officer and the other material on record, the chief general manager as the disciplinary authority of the petitioner passed an order dated 24th december, 1986 dismissing the petitioner from service in terms of rule 49(h) of the state bank of india (supervising staff) ..... although, the chief general manager is an ex-office member of the local board, he has to, in accordance with the principle of natural justice, abstain from the meeting of the local board while considering appeals against major penalty as he was the authority who passed the order ..... afraid this is a misreading of the relevant state bank of india (supervising staff) service rules. ..... cases the appointment of local board members by the government/reserve bank of india has been delayed. ..... when the state bank of india (determination of terms and conditions of service) order, 1979 came into force, the petitioner was placed in the grade of junior management grade scale-i (for short jmg ..... admittedly, the appeal was preferred by the petitioner to the local board of the bank and it was rejected by the deputy managing director by an order dated 20th .....
Tag this Judgment!Court : Delhi
Reported in : ILR1996Delhi34
..... '(9) section 41 of the state bank of india act, 1955 reads thus:- 'audit-(1)the affairs of the state bank shall be audited by two or more auditors duly qualified to act as auditors of companies under section 226 of the companies act, .1956 who shall be appointed by the reserve bank in consultation with the central government. ..... he also referred to the provisions of section 35 of the banking regulation act and section 41 of the state bank of india act. ..... and vouchers relating thereto, and in the performance of his duties, the auditor- (a) shall have, at all reasonable times, access to the books, accounts and other documents of the state bank; (b) may, at the expense of the state bank, or if he is appointed by the central government, at the expense of the central government, employ accountants or other persons to assist him in investigating such accounts, and (c) may, in relation to such accounts, examine any director or any member of a local board or of a local committee or any officer of the ..... (5) any such comments upon, or supplement to, the audit report shall be placed before the annual general meeting of the company at the same time and in the same matter as the audit report. ..... (5) the auditors shall severally be, and continue to act as, auditors until the annual general meeting after their respective appointment, and if any vacancy arises before the expiry of the term of office of an auditor, the vacancy may be filled by the reserve bank. .....
Tag this Judgment!Court : Chennai
Reported in : [1985]57CompCas126(Mad); (1984)IILLJ34Mad
..... narayanaswami, learned counsel for the state bank of india, petitioner in other writ petitions, draws our attention to the following important provisions of the state bank of india act of 1955 : 'section 3 - 'establishment of the state bank. ..... - (1) thegeneral meeting referred to asan annual general meeting shallbe held annually at such placewhere there is a local headoffice of the state bank asshall from time to time bespecified by the central boardand the general meeting may beconvened by the state bank atany time.45. ..... it is, therefore, considered desirable that provision should be made for facilitating the creation of a large number of local head offices, for certain changes in the composition of the central and local boards of the bank and for vesting some specific powers in the local boards so as to enable the bank to dispose of its business expeditiously and to improve the quality of the services generally. ..... at its meeting held on 22nd november, 1979, the local board of the bank considered the appeal ..... after considering his representation, the local board of the writ petitioner-bank at its meeting held on 7th july, 1976, came to the conclusion that the dismissal can was the proper punishment ..... local boards to beconstituted at each place wherethe state bank has a local headoffice ..... under section 21-c, six members of the local board are nominated by the central government ..... section 21 in clause (c) deals with the nomination of six members of a local board by the central government. 43 .....
Tag this Judgment!Court : Chennai
Reported in : (1985)2MLJ439
..... was, therefore, necessary to amend the state bank of india act, 1955, and as this had to be done prior to 1st of july, 1955, which had been notified as the appointed day' under the state bank of india act, the state bank of india (amendment) ordinance, 1955, was promulgated on 23rd june, 1955. ..... were taken though the provisions of the state bank of india act, 1955, the state bank of india (subsidiary banks) act, 1959, and the reserve bank of india act, 1934. ..... now be set out--state bank of india act, 1955 (act 23 of 1955)-- the reserve bank of india had appointed in august, 1951 a committee of directors for conducting an all india rural credit survey. ..... an employee of bank of india, submits as under: after referring to section 4 (1) (c) to the shops act, it is urged that the meaning of commercial establishment came to be decided in madras state electricity board v. ..... reasons for those amendments can best be found from the statement and objects of those amending acts:amending act 33 of 1955 : the scheme of the state bank of india act, 1955, envisaged the state bank of india coming into existence and the imperial bank of india going out of the existence simultaneously on the appointed day, (being the day notified, i.e ..... the general meeting referred to as an annual general meeting shallbe held annually at such place where there is a local head office of thestate bank as shall from time to time be specified by the central board andthe general meeting may be convened by the state bank at any .....
Tag this Judgment!Court : Allahabad
Reported in : (1978)IILLJ457All
..... rau, officer grade i, in the local head office of the state bank of india, kanpur, filed on behalf of the respondent state bank of india it has been categorically stated that the state bank of india has not framed the state bank of india (supervisory staff) service rules, hereinafter referred to as the rules, under the state bank of india act, 1955. ..... on the other hand it was contended on behalf of the state bank of india that the service rules made under section 43 of the act are purely in the nature of administrative instructions, which contain terms of agreement between the officers and the bank and unless the central board framed the rules in the manner as laid down under section 50 of the act those rules could not have statutory force.7. ..... the managing director, state bank of india, central office, bombay, by his letter dated 6th october ,1976 informed the petitioner that the executive committee of the central board at its meeting held on 6th october, 1966 had resolved to dismiss the petitioner with immediate effect in terms of rule 49(f) of the state bank of india (supervising staff) service rules. ..... under section 17 of the general superintendence and direction of the affairs and business of the state bank has been entrusted to the central board which may exercise all powers and do all such things and acts as may be exercised and done by the state bank and are not by the act expressly directed or required to be done by the state bank in general meetings. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1991(61)FLR605]; (1992)IILLJ155SC
..... the following resolutionon august 30, 1968 :in exercise of the powers conferred by sub-section (1) of section 43 of the state bank of india act, 1955 (23 of 1955) and amended sub-regulation (2) (a) of regulation 55 of the state bank of india generalregulations, 1955, the executive committee of the central board of the state bank of india hereby makes the following order : the initial appointments and/or promotions to various categories of officers and other employees in the bank set out in column i hereunder shall be made by the authority specified in column ii : -------------------------------------------------------------------------------- column i column ii -------------------------------------------------------------------------------- employees working at branches (i) employees ..... the chief general manager of the state bank of india, local head office hyderabad dismissed hanumantha rao by ..... noted that an amendment in regulation 55 was approved by central board at its meeting dated august 25, 1988 which reads as under :55 (1) save as provided in sub-regulation (2) and as may be directed 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 ..... rule and the second notification were only methods to tide over the difficult situation which would arise in the public service if the new rule was applied at once and also to meet any financial objection arising out of the enforcement of the new rule. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1991SC79; JT1990(3)SC308; (1991)IILLJ122SC; 1990(2)SCALE110; (1990)4SCC481; [1990]3SCR398; 1990(2)LC467(SC); (1990)2UPLBEC961
..... . in exercise of the powers conferred by sub-section (1) of section 43 of the state bank of india act, 1955 (23 of 1955) and amended sub-regulation (2)(a) of regulation 55 of the state bank of india general regulations, 1955, the executive committee of the central board of the state bank of india hereby makes the following order:21 ..... the chief general manager of the state bank of india, local head office hyderabad dismissed hanumantha rao by an order dated 7.1.84. ..... . it may be further noted that an amendment in regulation 55 was approved by central board at its meeting dated august 25, 1988 which reads as under:55(1) save as provided in sub-regulation (2) and as may be directed 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.2(a) the appointing and/or promoting authority for various categories/grades of officers and employees shall be such as the executive committee may by general or special order ..... the proviso to the new rule and the second notification were only methods to tide over the difficult situation which would arise in the public service if the new rule was applied at once and also to meet any financial objection arising out of the enforcement of the new rule .....
Tag this Judgment!Court : Delhi
Reported in : [1980(41)FLR315]; ILR1977Delhi750; (1978)ILLJ48Del
..... in 1955 the state bank of india act (act 23 of 1955) (the act) was passed. ..... . the bank has got regulations (state bank of india general regulations 1955) made in exercise of powers conferred by sub-s.(3) of s ..... on that day he signed a declaration saying 'ihereby declare that i have received from the bank a copy of the state bank of india (sub-accountants and head cashiers) service rules and having read and understood them, i hereby subscribe and agree to be bound by the said rules. ..... . before amendment it read thus: '21.local boards and local committees (1)there shall be constituted at eash place where the state bank has a local head office, a local board which shall consist of the following members namely :- xxxx xx (3)a local board..... ..... . even after such amendment the position of local board remains unchanged as will be seen from sections 21(1) and 21b ..... . 17(1) of the act the general superintendence and direction of the affairs and business of the state bank shall be entrusted to the central board which may exercise all powers and do all such acts and things as may be exercised or done by the state bank (and are not by this act expressly required to be done by the state bank in general meeting) ..... (25) this case concerned a scottish teacher employed by a local education authority subject to statutory provisions for prior discussion by the authority of any motion to dismiss a teacher, with three weeks'notice to the teacher of the meeting at which the dismissal was to be considered. .....
Tag this Judgment!Court : Gujarat
Reported in : (2009)2GLR1633
..... section 10(1)(d) of the state bank of india act, 1955 provides that persons having knowledge of the work of co-operative institution and of rural economy or experience in commerce, industry, banking or finance, may be nominated as directors in terms of the nationalised banks (management & miscellaneous provisions) scheme, 1970/1980 and as per the provisions contained under sections 27, 28 and 29 of ..... petitioner has also stated that while appointing non-official directors on the board of directors of various public sector banks, provisions contained in section 9(3a) of the banking companies (acquisition and transfer of undertakings) act, 1980 (for short 'the act') were not followed and there was no effective consultation with reserve bank of india, departments of income tax, customs, central excise and enforcement directorates of the central ..... act, 1955, the directors are entitled for sitting fees for attending to any board meetings or at any committee of the board or for attending to any work of the bank ..... , the chairman complained, 'has not submitted 'deed of covenant' declaration of secrecy and other mandatory information despite repeated telephone calls, letters and contacts by local branch officials'.in the case of another director, umesh kumar sharma, the complaint is also serious. ..... , it was pointed out that if the government wants the bank to survive, the bank should have directors who are not only professional but also men of integrity and not connected with local politics. .....
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