Judgment Search Results Home > Cases Phrase: state bank of india subsidiary banks act 1959 section 10 transferof undertaking of existing banks to new banks Page 1 of about 2 results (0.084 seconds)

Bombay Swadeshi Stores Vs. State Bank of Mysore

Court : Karnataka

Reported in : ILR1989KAR2506

..... contention, the learned counsel for the petitioner contended that state bank of mysore was an independent corporate body constituted under the provisions of state bank of india (subsidiary banks) act 1959 and therefore the premises cannot be regarded as a public premises as defined under the act.5. ..... of directors is specified in section 25 itself, among whom one is to be nominated by the reserve bank, not more than five by the state bank of india and one by the central government (section 25). ..... power to make rules for purposes of the act and the state bank has the power to make regulations (sections 62 and 63), which are binding on a subsidiary bank. ..... state bank has the power to appoint managing director of a subsidiary bank (section ..... state bank has the power to give directions and instructions to a subsidiary bank which are binding on them (section ..... section reads:establishment of new banks - with effect from such date as the central government may, by notification in the official gazette, specify in this behalf, there shall be constituted the following new banks, namely -(a) state bank of bikaner;(b) the state bank of indore;(c) omitted;(d) the state bank of mysore;(e) the state bank of patiala;(f) the state bank of travancore and different dates may be specified for different new banks ..... thereafter a notice was issued by the estate officer of the state bank of mysore, appointed under section 4 of the act calling upon the petitioner to show cause as to why an order of eviction should .....

M.K. Vijayalakshmi W/O K. Srinivasa Murthy Vs. the State by Cbi/Spe

Court : Karnataka

Reported in : ILR2007KAR2439; 2007(4)KarLJ700; 2007(3)KCCR1709; 2007(3)AIRKarR495.

..... . thus, it is clear that the state bank of mysore is the subsidiary bank of state bank of india section 4(2) of the said act makes it further clear that the state banks established under the provisions of state bank of india (subsidiary banks) act, 1959, are the body corporates with perpetual succession ..... . it is also made clear therein that the government company includes a company which is subsidiary of a government company.the state bank of india (subsidiary banks) act, 1959, is enacted by the central government to provide for formation of certain government or government associated banks as subsidiaries of the state bank of india and for the constitution, management and control of the subsidiary banks -so formed, and for matters connected therewith, or incidental thereto ..... . the said submission is opposed by sri ravishankar, learned counsel appearing for the respondent-cbi, who inter alia contended that the petitioner is an employee of a government, company as defined under section 617 of the companies act, inasmuch as, the state bank of mysore is an subsidiary bank of state bank of india ..... . the state bank of india came into existence by an act of parliament, as successor to the imperial bank of india ..... . the body corporate constituting each of the new state banks established, including state bank of mysore, shall consist of state bank of india and other shareholders, if any .....

State Bank of India Vs. Kalpaka Transport Co. Pvt. Ltd. and anr.

Court : Mumbai

Reported in : AIR1979Bom250; (1980)82BOMLR318

..... ) and all the former states' banks and government associated banks were taken over by the state bank of india (subsidiary banks) act, 1959. ..... detected, business was suspended with all the three firms of mallappa, and in addition the state bank of mysore ceased to accept the bills for discounting of any other client which were accompanied by the lorry receipts of kerala transport company, later, instructions were issued to all the local officers of the state bank of india and all the subsidiary banks not to accept any lorry receipts issued by the kerala transport company for the purpose of ..... such of them as were found to be sound operators in the estimate of iba and were further willing to give the undertaking and enter into a contract as proposed by schedule a to the scheme, were alone listed in the approved list of the ..... that was sought to be construed was contained in paragraph 5 of the report the passage is as follows:--'the meaning of the word 'authority' given in webster's third new international dictionary, which can be applicable is 'a public administrative agency or corporation having quasi-governmental powers and authorised to administer revenue-producing public enterprise'. ..... were registered as suppliers of timber with the director general of supplies and disposals of new delhi, which is the purchase organization of the central govt, since 1944. ..... of the state's activities is expanding in the modern welfare state, judicial concepts are being remodeled to suit new situations. .....

Associate Banks Officers' Association Vs. State Bank of India and Ors. ...

Court : Supreme Court of India

Reported in : [1998(79)FLR576]; JT1997(8)SC422; 1997(6)SCALE394; (1998)1SCC428; [1997]Supp4SCR475; 1998(1)LC107(SC); (1997)3UPLBEC2145

..... under section 3 of the state bank of india (subsidiary banks) act, 1959, the new banks are constituted. ..... even dehors section 50, looking to the scheme of the state bank of india (subsidiary banks) act, 1959, it is quite clear that each of the subsidiary banks is setup as a separate bank. ..... sub-section (2) of section 50, however, of the state bank of india (subsidiary banks) act, 1959 provides as follows:'50. ..... four years later, the state bank of india (subsidiary banks) act, 1959 was passed. ..... under the act the undertaking of the imperial bank was transferred to the state bank of india which was the new bank constituted under the said act to carry on banking business. ..... the associated banks were constituted as subsidiaries instead of being amalgamated because it was considered desirable to maintain the separate character of the state-associated banks as also their existing contacts and traditions. ..... we have interpreted and applied the doctrine even more widely to prevent discriminatory pay scales within an organisation which is owned by or is an instrumentality of the state, provided that the different pay scales that exist in one organisation, are applied to employees doing work of equal value, and there is no rational explanation for the difference.3. ..... section 11 deals with the transfer of services of employees of existing banks. .....

State Bank of Mysore Rep. by Its Chief Manager, Personnel, Sri. G. Raj ...

Court : Karnataka

Reported in : 2009(1)AIRKarR90

..... 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;(d) 'company' means any company as defined in section 3 of the companies act, 1956; and includes a foreign company within the meaning of section 591 of that act;(da) 'corresponding new bank' means a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 (5 of 1970), or under section 3 of the companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980);(nd) 'subsidiary bank' has the meaning assigned to it in the state bank of india (subsidiary banks) act, 1959;11. ..... state bank of mysore, a subsidiary of state bank of india is the writ petitioner and is an institution which is governed by the state bank of india [subsidiary banks] act, 1959 [for short 'subsidiary act']. ..... in the statement of objections filed on behalf of the state government, it is contended, inter alia, that the petitioner themselves have admitted as pleaded in para-1 of their writ petitions that all existing banks come within the meaning of expression 'banking company' in so far as the petitioner in wp no. ..... the definition of 'companies' under the companies act, 1956 is to be found in section 3 of the act, which is either a company formed and registered under this act or an existing company as defined in clause 2.30. ..... an existing company is not roped in under this entry. .....

Ramesh Krishna Rao Vs. State Bank of India

Court : Mumbai

Reported in : (1974)76BOMLR552; (1974)IILLJ441Bom; 1974MhLJ845

..... state bank of india act, 1955 as also some of the provisions of the state bank of india (subsidiary banks) act, 1959 and he obviously did so to bring out the fact that the state bank was a statutory corporation incorporated for undertaking functions meant to serve public purposes and which were in public interest and it was functioning under the control of the government of india ..... section 18(1) was particularly relied upon by him to show that in the discharge of its functions including those relating to a subsidiary bank the state bank shall be guided by such directions in matters of policy involving public interest as the central government may, in consultation with the governor of the reserve bank and the chairman of the state bank ..... find any discussion in the judgment of the madhya pradesh high court on the question as to whether though the state bank could be said to possess inherent power under some sections of the act, in fact such power had been exercised and bye-laws were framed incorporating service conditions of its employees or ..... a bye-law made by a country council, lord russell described a bye-law having the force of law as one affecting the public or some section of the public, imposed by some authority clothed with statutory powers ordering something to be done or not be done and accompanied by some sanction or penalty ..... every new rule or alteration in an existing rule shall take effect, unless otherwise directed by the central board, from the date on which the new rule .....

Commissioner of Income-tax Vs. State Bank of India

Court : Mumbai

Reported in : (2003)181CTR(Bom)59; [2003]261ITR82(Bom)

..... under section 48 of the state bank of india (subsidiary banks) act, 1959. ..... desai further contended that under section 48(2) of the said act of 1959, it is further provided that any subsidy received by a subsidiary bank under section 48(1) shall not be treated as income of the subsidiary bank and, consequently, he argued that if receipt of such subsidiary does not constitute income in the hands of the subsidiary bank then, even expenditure incurred by the state bank of india by way of subsidy cannot constitute revenue ..... contended that under section 48 of the said act, 1959, subsidy is provided by the state bank of india to meet the cost of any specific programme of development undertaken by the subsidiary bank. ..... he further contended that the state bank of india had paid subsidy to enable its subsidiaries to open new branches and, consequently, the subsidy was used to create assets and, therefore, the expenditure was capital expenditure and not revenue expenditure incurred by the state bank of india.findings :4. ..... 19,17,820 on account of amount paid by the state bank of india to its subsidiaries towards opening of new branches ? ..... , when the state bank of india gave subsidy under section 48(1)(a), it was a part of its business under section 32 of the state bank of india act of 1955. ..... he submitted that the subsidy was given by the state bank of india to the aforestated subsidiaries to open new branches all over india and, therefore, such expenditure cannot be revenue expenditure. .....

Kattabomman Transport Corporation Limited Vs. State Bank of Travancore ...

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. ..... section 52 of the state bank of india (subsidiary banks) act, (959 (corresponding to sec. ..... 52 of the state bank of india (subsidiary banks) act, 1959 for claiming absolute protection to the bank. ..... coming to the first exception 'required by law', the position is that the information could be called for under orders of government or under sections 131 and 133 of the income-tax act, 1961, section 135 or 137 of the companies act, 1956, bankers books evidence act, 1891, section 45(b) of the reserve bank of india act, 1934, section 26 of the banking regulation act, 1949, section 36of the gift-tax act, 1958, section 91(3) of the criminal procedure code, 1973 and section 43 of the foreign exchange regulation act, 1983.12. ..... , be seen that the division bench directed that the third respondent would be entitled to back-wages from the date of dismissal till the date of reinstatement subject to the condition that the third respondent filed an undertaking sup-ported by an affidavit before the appellant-transport corporation to the effect that in the event it is 'established' that the third respondent had, after the date of dismissal till the date of reinstatement, been gainfully employed ..... considered that the right to disclose exists 'to the extent to which it is reasonably necessary ..... .....

State Bank of Bikaner and Jaipur Employees Association and anr. Vs. St ...

Court : Chennai

Reported in : (1982)ILLJ413Mad

..... 63 of the state bank of india (subsidiary banks) act, 1959 (no. ..... section 63(1) of the act empowers the state bank of india, with the approval of the reserve bank of india, to make in respect of a subsidiary bank the regulations not inconsistent with the act and the rules made thereunder, providing for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of the act. ..... the undertaking of the state bank of jaipur limited was merged with the bank of jaipur limited was merged with the bank of bikaer limited under the terms of the amalgamation scheme sanctioned by the government of india under s. ..... the stand of the learned counsel for the petitioners that a representative action in appropriate cases cannot be completely ruled out : 'but, we feel concerned to point out that the maintainability of a writ petition which is correlated to the existence and violation of a fundamental right is not always to be confused with the locus to bring a proceeding under art. ..... whether the petitioners belong to a recognised union or not, the fact remains that a large body of persons with a common grievance exists and they have approached this court under art. 32. ..... orders, nor appellate, though it partakes of the nature of both forms of remedy, that the action is peculiar in form, since it is not usually a lis inter partes enforceable by execution and that it merely declares rights and liabilities on existing state of facts. .....

C.Sankari. Vs. State Bank of Hyderabad

Court : Chennai

..... in support, learned counsel placed reliance on section 63 of the state bank of india (subsidiary banks) act, 1959, which lists out the procedure for framing of regulation, governing the subsidiary banks. ..... section 63 provides that the state bank of india is competent to make regulations, with regard to the subsidiary banks, by issuing notification in the official gazette, which is further required to be placed before the parliament.18. ..... for the petitioner contends, that by way of statutory settlement arrived at between the parties, which is binding on the management as well as employees, the person, who had ceased to be in service on or after 29th september 1995 in case of nationalised banks / 26th march 1996 in case of associate banks of state bank of india on account of voluntary retirement under special scheme after rendering service for a minimum period of 15 years, is eligible, to avail benefits under the settlement.11. ..... the option given by the petitioner on 21.06.2010 reads as under: "sankari chandrasekaran p.f.no.030263 retired under vrs address: b-4, kala flats new no.10, old no.13, temple avenue, srinagar colony, (behind saidapet court) chennai-600 015 date 21st june 2010tothe chief manager,state bank of hyderabadgunfoundry,hyderabad-500 001.without prejudicedear sir,sub: pension payable to me as per 9th bi-partite settlementi retired under vrs in the year 2000/2001 from thousand lights branch, chennai. .....