Judgment Search Results Home > Cases Phrase: state bank of india subsidiary banks act 1959 section 36 subsidiary bunk to act as agent of the state bank Page 1 of about 2,540 results (0.364 seconds)

C.V. Raman and ors. Vs. Bank of India and ors.

Court : Chennai

Reported in : [1985]57CompCas126(Mad); (1984)IILLJ34Mad

..... we find too, that a subsidiary bank such as the state bank of travancore is to act as an agent of the state bank of india if required (section 36 of the subsidiary banks act, 1959), and that the state bank of india is to act as an agent of the reserve bank if so required (section 32 of the state bank of india act). ..... we were taken through 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. ..... on the first of the objections, namely, the applicability of section 4(1)(c) of the shops act to the state bank of india, after an analysis of the relevant provisions of the act and on a reference to relevant case-law, he rejected the contention that the state bank would fall under section 4(1)(c) of the shops act. ..... a preliminary objection was raised on behalf of the writ petitioner that the state bank of india would fall under the exemption clause contained under section 4(1)(c) of the shops act and, therefore, the act would not apply to the state bank of india. ..... 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. ..... section 3 established the state bank of india to carry on the business of banking and other business in accordance with the provisions of the act and for taking over the undertaking of the imperial bank. .....

Philomina Francis Vs. the Accountant General of Kerala and ors.

Court : Kerala

Reported in : 2008(1)KLJ83

..... we find too, that a subsidiary bank such as the state bank of travancore is to act, as an agent of the state bank of india if required (section 36 of the subsidiary banks act, 1959), and that the state bank of india is to act as an agent of the reserve bank if so required (section 32 of the state bank of india act). ..... we were taken through 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. ..... this is for the reason that just as the kerala financial corporation is created under the state financial corporations act, 1951, indisputably, the state bank of travancore is also a corporation which is a creature of the state bank of india (subsidiary banks) act, 1959. ..... the state bank of travancore is stated to be a statutory corporation constituted under the state bank of india (subsidiary banks) act, 1959. ..... under section 24 of the subsidiary banks act the state bank has the right of issuing any directions, and the subsidiary banks are bound to comply. ..... again, under section 37 of the subsidiary banks act, the central government has power, after consultation with the reserve bank, to direct the subsidiary banks to carry on any business or to prohibit such banks from carrying on any business. .....

Jacob Philip Vs. State Bank of Travancore and ors.

Court : Kerala

Reported in : AIR1973Ker51

..... we find too, that a subsidiary bank such as the state bank of travancore is to act, as an agent of the state bank of india if required (section 36 of the subsidiary banks act, 1959), and that the state bank of india is to act as an agent of the reserve bank if so required (section 32 of the state bank of india act). ..... the state bank of india (subsidiary banks) act, 1959, and the reserve bank of india act, 1934. ..... under section 24 of the subsidiary banks act, the state bank has the right of issuing any directions, and the subsidiary banks are bound to comply. ..... the position disclosed is that the reserve bank of india owns not less than 55% of the shares in the state bank of india, and cent per cent of the shares in the reserve bank of india are owned by the government. ..... we were taken through the provisions of the state bank of india act, 1955. ..... again, under section 37 of the subsidiary banks act, the central government has power, after consultation with the reserve bank, to direct the subsidiary banks to carry on any business or to prohibit such banks from carrying on any business. .....

Ramesh Krishna Rao Vs. State Bank of India

Court : Mumbai

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

..... dhanuka took us through the several provisions of the 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. ..... thirdly, with great respect, we do not 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 not ..... 32 of the act under which it is contemplated that the state bank shall act as agent of the reserve bank at all places in india where it has a branch and where the reserve bank has none, though he accepted the fact that under the said provision the state bank has to act as agent of the reserve bank only for the purposes indicated in cls ..... 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, give to it .....

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

..... 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. ..... under section 3 of the state bank of india (subsidiary banks) act, 1959, the new banks are constituted. ..... sub-section (2) of section 50, however, of the state bank of india (subsidiary banks) act, 1959 provides as follows:'50. ..... despite this section, it is contended by the petitioner-association that since the subsidiary bank shares a common chairman of its board of directors with the state bank of india, and since the state bank of india has the power to nominate five directors on the board of the subsidiary bank and has power to give directions to the subsidiary bank, the subsidiary bank in fact, is a part of the state bank of india. ..... four years later, the state bank of india (subsidiary banks) act, 1959 was passed. ..... the managing director is to be appointed under section 25 by the state bank of india after consulting the board of directors of the subsidiary bank and with the approval of the reserve bank. ..... there is a similar provision for a subsidiary bank acting as an agent of the reserve bank if so required by the reserve bank.11. ..... under section 36, a subsidiary bank shall, if so required by the state bank, act as agent of the state bank at any place in india for the purpose of certain businesses specified therein. .....

C.V. Raman Vs. the Management of Bank of India, Regional Office, South ...

Court : Chennai

Reported in : (1985)2MLJ439

..... section 36 of the subsidiary banks act, 1959, and that the state bank of india is to act as an agent of the reserve bank if so required (section 32 of the state bank of india act). ..... we 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. ..... likewise section 29 (2) deals with the fixation of salary of the vice chairman.chapter vi of the act concerns with the business of the state bank of india.under section 35, it is stated thus:state bank may acquire the business of other banks with the sanction of the central government.under section 37, it is stated thus:reserve fund: state bank shall establish a reserve fund consisting of the amount held in the reserve fund of the imperial bank transferred to the state bank and such further sums as may be transferred to it by state bank out of its annual net profits before declaring a dividend.35. ..... we find too, that a subsidiary bank such as the state bank of travancore is to act as an agent of the state bank of india if required. ..... on the first of the objections, namely, the applicability of section 4 (1) (c) of the shops act to state bank of india, after analysis of the relevant provisions of the act, and on a reference to relevant case law, he rejected the contention that the state bank would fall under section 4 (1) (c) of the shops act. .....

Babulal Ajmera Vs. the State Bank of Bikaner and Jaipur Through Its Ge ...

Court : Rajasthan

Reported in : 1974WLN288

..... the bank is a corporation constituted under section 3 of the state bank of india (subsidiary banks) act, 1959 section 41 of the said act enacts that every bank constituted under section 3 (new bank) shall be a body corporate with perpetual succession and a common seal and shall sue or be sued in its name. ..... agent, state bank of india, gaya : air1958pat418 . ..... suffice it to say that there is no cogent evidence on the record to show that the post of the agent is subordinate in rank to the post of the manager pw 5 dulicband & pw 6 nirmal kumar who are the employees of the bank, have stated that they were appointed as cashiers in the year 1956 by the manager* they have further stated that they were appointed as cashiers in th'e year 1956 by the manager. ..... datta cannot be accepted on the short ground that the court is not entitled to go into the facts to find out as to whether the finding of negligence arrived at by the enquiry officer and confirmed by the agent and the chief accountant on appeal is correct and not, i am of the view that the court is not entitled to reconsider on the facts the decision given in the domestic enquiry the court is not concerned with the question whether before the officer or authority passing the order there was sufficient evidence to justify the order. .....

Saraf Trading Corporation and Vs. State Bank of India

Court : DRAT Madras

Reported in : I(2003)BC71

..... directed by the central government with reference to any place, the bank may, having regard to public interest, convenience of banking development and such other factors which in its opinion are relevant in this regard, appoint the national bank, or the state bank, or a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 (5 of 1970), or a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980), or any subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959 (38 of 1959), as its agent at all places, or at any place in india for such purposes as the bank may ..... "state bank to act as agent of the reserve bank -- (1) the state bank shall, if so required by the reserve bank, act as agent of the reserve bank at all places in india where it has a branch and where there is no branch of the banking department of the reserve bank, for- (a) paying, receiving, collecting and remitting money, bullion and securities on behalf of any government in india; and (b) undertaking and transacting any other business which the reserve bank may from time-to-time entrust to it. .....

Smt. Sharda Devi Vs. State of U.P. and ors.

Court : Allahabad

Reported in : AIR2002All1; (2001)3UPLBEC1941

..... -sections (b), (f) and (g) of section 2 and sub-sections (1), (2) and (3) of section 3 which are relevant for deciding the controversy in hand are being reproduced below :-- (b) 'financial assistance' means any financial assistance - (i) for establishing, expanding moderning renovating or running any industrial undertaking; or (ii) for purposes of vocational training; or (iii) for the development of agriculture, horticulture, animal husbandry or agro-industry; or (iv) for purposes of any other kind of planned development; or (v) for relief against distress; (f) 'banking company' 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 ..... instalment thereof; or (iii) otherwise fails to comply with the terms of the agreement, then, in the case of state government, such officer as may be authorised in that behalf by the state government by notification in the official gazette, and in the case of the corporation or a government company the managing director (or where there is no managing director then the chairman of the corporation, by whatever name called) thereof, and in the case of a banking company, the local agent thereof, by whatever name called, may send a certificate to the collector, mentioning the sum due from such person and requesting .....

The Bangalore, Bangalore Rural And Vs. The Asst. Commissioner

Court : Karnataka

..... definitions- (1) in this act, unless the context otherwise requires- (a) bank means,- (i) a co-operative society (including a co-operative bank); (ii) the reserve bank of india constituted under the reserve bank of india act, 1934; (iii) a banking company as defined in the banking regulation act, 1949; (iv) the state bank of india constituted under the state bank of india act, 1955; (v) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (vi) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970; (vii) the agricultural refinance and development corporation constituted under the agricultural refinance co-operation act, 1963; (viii) the karnataka state agro-industries corporation, a company incorporated under the companies act, 1956; (ix) the agricultural finance corporation limited ..... khc:29381 wp no.29196 of 2014 c/w wp no.17857 of 2015 wp no.17858 of 2015 any past officer, past agent or past employee or the nominee, heirs, or legal representatives of any deceased officer, deceased agent, or deceased employee of the society; or (d) between the society and any other co-operative society, or a credit agency, such dispute shall be referred to the registrar for decision and no civil or labour or revenue court or industrial tribunal shall have jurisdiction to entertain any suit or other proceeding in respect of such dispute. .....