Banking Company
Legal definition for Indian law research
Definition
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]
--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).
does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]
means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949), s. 5 (c)]
shall have the meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949). [Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), s. 2 (e)]
shall have the meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949). [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2 (1) (d)]
Banking company, means a company which is an authorized institution, Halsbury's Laws of England, Vol. 7(1), 4th Edn., Para 873, p. 642.
Banking company, means a company which is an authorized institution, Halsbury's Laws of England, Vol. 3(1), 4th Edn., Para 10, p. 9.
--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).
does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]
means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949), s. 5 (c)]
shall have the meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949). [Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), s. 2 (e)]
shall have the meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949). [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2 (1) (d)]
Banking company, means a company which is an authorized institution, Halsbury's Laws of England, Vol. 7(1), 4th Edn., Para 873, p. 642.
Banking company, means a company which is an authorized institution, Halsbury's Laws of England, Vol. 3(1), 4th Edn., Para 10, p. 9.
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.