Court : Kerala
Reported in : (1999)152CTR(Ker)63; [1999]236ITR185(Ker)
..... --for the purposes of sub-clause (ii), 'scheduled bank' means the state bank of india constituted under the state bank of india act, 1955, a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959, a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970, the banking companies (acquisition and transfer of undertakings) act, 1980, or any other bank, being a bank included in the second schedule to the reserve bank of india act, 1934. ..... security as defined in clause (2) of section 2 of the public debt act, 1944 (central act 18 of 1944), or in any other security which may be approved by the state government in this behalf, or (ii) deposited in any account with the post office savings bank [including deposits made under the post office (time deposits) rules, 1970] or a scheduled bank or a co-operative society engaged in carrying on the business of banking (including the kerala state co-operative agricultural and rural development bank), or (iii) deposited in an account with the kerala financial .....
Tag this Judgment!Court : Kerala
Reported in : (2003)183CTR(Ker)1; [2004]265ITR177(Ker)
..... ' of a scheduled bank which is not a state cooperative bank, to,-- (i) the state bank; (ii) a subsidiary bank as defined in section 2 of the state bank of india (subsidiary banks) act, 1959 (38 of 1959); (iii) a corresponding new bank constituted by section 3 of the banking companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980); (iv) a banking company as defined in clause (c) of section 5 of the banking regulation act, 1949 (10 of 1949); (v) a co-operative bank; or (vi) any other financial institution notified by the central government in this behalf, shall be reduced by the aggregate of the liabilities of all such banks and institutions to the scheduled bank; (e) the aggregate of the 'liabilities' of a scheduled bank which is a state cooperative bank, to,-- (i) the state bank; (ii) a subsidiary bank as defined in section 2 of the state bank of india (subsidiary banks) act, 1959 (38 of 1959 ..... to time, by notification in the official gazette, specify, of the total of its demand and time liabilities in india, as on the last friday of the second preceding fortnight; (b) in computing the amount for the purposes of clause (a),-- (i) the deposit required under sub-section (2) of section 11 to be made with the rbi by a banking company incorporated outside india; (ii) any cash or balances maintained in india by a banking company other than a scheduled bank with itself or with the rbi or by way of net balance in current account in excess of the aggregate .....
Tag this Judgment!Court : Kerala
Reported in : [2003]130TAXMAN447(Ker)
..... a state co-operative bank, to,(i) the state bank;(ii) a subsidiary bank as defined in section 2 of the state bank of india (subsidiary banks) act, 1959 (38 of 1959);(iii) *** *** ***(iiia) a corresponding new bank constituted by section 3 of the banking companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980);(iv) a banking company as defined in clause (c) of section 5 of the banking regulation act, 1949 (10 of 1949);(v) a co-operative bank; or(vi) any other financial institution notified by the central government in this behalf,shall be reduced by the aggregate of the liabilities of all such banks and institutions to the scheduled bank;(e) the aggregate of the 'liabilities' of a scheduled bank which is a state co-operative bank, to,(i) the state bank;(ii) a subsidiary bank as defined in section 2 of the state bank of india (subsidiary banks) act, 1959 (38 of 1959);(iii ..... in the official gazette, specify, of the total of its demand and time liabilities in india, as on the last friday of the second preceding fortnight;(b) in computing the amount for the purposes of clause (a),(i) the deposit required under sub-section (2) of section 11 to be made with the reserve bank by a banking company incorporated outside india;(ii) any cash or balances maintained in india by a banking company other than a scheduled bank with itself or with the reserve bank or by way of net balance in current account in excess of the aggregate of the cash .....
Tag this Judgment!Court : Kerala
Reported in : AIR1992Ker351
..... the learned single judge referred to the provisions of section 52 of the state bank of india (subsidiary banks) act, 1959 and held that the bank was under a duty to maintain confidentiality. ..... 52 of the state bank of india (subsidiary banks) act, 1959 for claiming absolute protection to the bank. ..... section 52 of the state bank of india (subsidiary banks) act, (959 (corresponding to sec. ..... coming to the second aspect of 'practices and usages customary' among bankers, the position appears to be as follows : in paget's 'law of banking', tenth edition, 1989 (chapter 15, pages 254 to 257), it is stated that there is a general duty of secrecy on the part of the bank subject to certain exceptions. ..... (2) every director, auditor, adviser, officer or other employee of a subsidiary bank shall, before entering upon his duties, make a declaration of fidelity and secrecy as in the form set out in the second schedule; provided that........,.......... ..... p4 letter dated 10-9-1991 of the first respondent is quashed and the first respondent is directed to issue orders' to its branch office at kollangode (second respondent) to furnish the details of the remittances made by the third respondent to the second respondent-branch during the period 1978 to 1984. ..... he also denied that the account with the second respondent was being operated in his name and his wife's name.10. ..... he also denied that he sent any amount to the second respondent-branch at kollankode. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1982Ker1
..... state bank of india (subsidiary bank) act, 1959 ..... (ilr (1978) 2 ker 519) : (1979 tax lr noc 49) by the proviso to rule 19 (1) of the taxation and finance rules in schedule ii to the kerala municipalities act, 1960 (hereinafter the kerala act) the kerala legislature has validly provided for the continuance of the levy of profession tax by the municipalities in this state at the higher rates that were in force in those municipalities as contemplated by the proviso to article 276(2) of the constitution. ..... that we are called upon to examine that case here, and this is so because that decision concerned the state bank of travancore governed by an entirely different statute, viz. ..... why such a classification of persons into 'persons' and 'companies' in section 91 of the travancore act the object is not far to seek, for the answer thereto is afforded by section 16 in schedule ii of that act, whereunder 'companies' are treated differently for the purpose of levy of professional tax; companies whose half-yearly income ..... ideas -- namely, first that the association is of persons so numerous as not to be aptly described as a firm; and secondly, that the consent of all the other members is not required to the transfer of a member's interest. ..... this device has teen used only to achieve the second purpose mentioned by raman nayar ag. c. j. ..... 9,026/-for the second half of that year as per exhibits a-1 ..... involved is second half of ..... secondly, for roping in things that, either partly or in whole, would not come .....
Tag this Judgment!Court : Kerala
Reported in : 2006(3)KLT38
..... protection of the mutual interest of co- operative banks or co-operative land mortgage banks, or(c) any co-operative society, not being a primary credit society, formed by the employees of-(i) a banking company or the state bank of india or a corresponding new bank or a subsidiary bank of such banking company, state bank of india or a corresponding new bank, or(ii) a co-operative bank or a primary credit society or a co-operative land mortgage bank in so far as the words 'bank', 'banker' or 'banking' appears as part of the name of the employer 'bank', or as the case may be, of the bank, whose subsidiary the employer bank is,') (a) substituted for clause (f) by the banking laws (amendment) act (1 of 1984), section 42(ii)(15-2-1984). ..... the expiry of one year from such commencement; or(b) to any business as is specified in pursuance of clause (o) of sub-section (1) of section 6;;(fii) in section 9, for the second proviso, the following provisos shall be substituted, namely:-provided further that in the case of a primary credit society which becomes a primary co-operative bank after the commencement of clause (iii) of section 42 of the banking laws (amendment) act, 1983, the period of seven years shall commence from the day it so becomes a primary co-operative ..... 'banking' comes under the exclusive jurisdiction of central government covered under list i item 45 - (see article 246 of the constitution and seventh schedule). .....
Tag this Judgment!Court : Kerala
Reported in : 2006(3)KLT609
..... municipality urges that since relevant rules have not been framed under the 1994 act and in view of the provisions of the said act providing for repeal and saving of provisions made under the predecessor statute, namely, the kerala municipalities act, 1960, hereinafter, the '1960 act', for short, the provisions of the second schedule to the 1960 act namely the 'taxation and finance rules' would apply and that therefore, ..... objected to the revision of property tax of one of their buildings, a commercial one, that is, a lodge, hereinafter, the 'assessed building,' for short and stated in opposition to the demand that the rate at which revision has been made, is unreasonable and exorbitant. ..... by section 237 of the 1994 act is the statutory guard provided by the legislature for the municipality to ensure that its priority in so far as recovery of property tax is concerned, does not get entangled by any subsidiary rights created by act of parties or other situations. ..... contempt of court case filed by the defaulter, alleging that the municipality-failed to act on the bank guarantee, was also not entertained by this court.6. ..... however, the fact remains that there was no proper bank guarantee obtained and placed thereafter, before the municipality, by the defaulter, and the vehicle in question is still lying ..... the municipality took the stand that the bank guarantee furnished was not in the form, that is normally adopted in relation to such matters and they even placed a draft of the proper form .....
Tag this Judgment!Court : Kerala
Reported in : AIR1991Ker402
..... lower court held that the plaintiffs are entitled to one-third each in the plaint schedule property; there is no evidence to show that any amount as alleged by defendant was paid to the plaintiffs at ..... out that, pw 1 has only admitted that she was given ornaments worth 7/2 sovereigns; and p.w 2, the second plaintiff though said she was given 25 sovereigns of ornaments admitted in the cross-examination that in o.s. ..... the cochin christian succession act has already been repealed by part b states (laws) act and since the death of the mother of the plaintiffs and defendant was after the commencement of the part b states (laws) act, the law that governed the succession to her estate is the indian succession act. ..... subsidiary contention, according to us, indirectly and obliquely seeks to resurrect the dead issues of the cochin succession act ..... a subsisting importance for the subsidiary contention raised in the appeal ..... the limitation envisaged as per the provisions of the cochin christian succession act with respect to the right of the daughter to claim share no longer ..... into force of part b states (laws) act, 1951 the travancore christian succession act 1092 stood repealed. ..... principle the cochin act also stood repealed at the commencement of the part b states (laws) act 1951 (mathew ..... therefore a contention on the basis of section 22 of the cochin christian succession act to the effect that plaintiffs who are sisters of the first defendant are not entitled to a share in the estate of the .....
Tag this Judgment!Court : Kerala
Reported in : AIR1962Ker298
..... specify the rates at which, and the year, half-year, or the quarter for which the tax shall be levied, provided that the rate shall not exceed the maxima specified in schedule i in the case of motor vehicles and the maxima specified in schedule iii in the case of vehicles other than motor vehicles.section 4(1) (a) provides that the tax levied in respect of a motor vehicle in pursuance of a notification issued under sub-section (1) ..... has been or shall hereafter be, made or repaired at the expense of our government at such rates as our government may fix from time to time'.i do not propose to deal with the points urged regarding this act at this stage, because that will have to be considered and dealt with by me when dealing with thealternative contention of the learned advocate general andin that context i will have to consider the scope and nature ..... . state of ajmer, (s) air 1955 s c 25, wherein, the government's power to alter a schedule, by issuing a necessary notification wider the minimum wages act was recognised, has not been even placed before the learned judges who decided 1959 ker lt 829: ..... the legislative policy and principle, and must afford guidance for carrying out the said policy before it delegates its subsidiary powers in that behalf ..... . union of india, air 1960 sc 554, the validity of one of the sections namely, section 3 (d) in the drugs and magic remedies (objectionable advertisement) act, 1954 -- act 21 of 1954 was ..... its second counter-affidavit, the state gives ..... .....
Tag this Judgment!Court : Kerala
Reported in : (1999)ILLJ490Ker
..... under section 6 as regards the appellate authority, it is provided in section 4 as follows:-'standing orders shall be certifiable under this act if- (a) provision is made therein for every matter set out in the schedule which is applicable to the industrial establishment, and(b) the standing orders are otherwise in conformity with provisions of this act; and it shall be the function of the certifying officer or appellate authority to adjudicate upon the fairness or reasonableness of the provisions ..... in schedule to the act, can be prescribed in terms of section 15(2) read with section 2(b) of the act only by the state government and the state government have promulgated the rules, prescribing such additional matters in model standing order as schedule to the state rules ..... contends that this is against the provisions in the act and the rules and the schedule to the act, whereas the first respondent contends that transfer comes ..... found to be adverse to the interest of either the workmen or the employer, none can take a stand that such provision cannot be deleted because of the absence of provision for an amendment in the act and that the provision contained in section 10 for modification is only to effect minor changes and not for deletion of any clause. ..... workman is liable to be transferred inter-departmentally or to any of the offices or branches or subsidiary concerns managed by the company'. ..... order of the second respondent in that ..... which is applicable to 'whole of india', that ext. ..... india .....
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