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...service. Thus, in the case of ex-ECOs/SSCOs reappointed in the public sector banks after nationalisation of banks, i.e, 19-7-1969, the age of retirement would be 58 years even though they have...letter dated 9-9-1996 wherein it is stated that in the case of ex-ECOs/SSCOs reappointed in the public sector banks after nationalisation of banks, i.e, 19-7-1969, the age of retirement would be 5...referred to as “the respondent”), is entitled for extension of service after his attaining the age of 58 years under Rule 19(1) of the State Bank of India Officers' Service Rules (hereinafter referred...
...under Article 19(1)(g) to carry on any occupation, trade or business was therefore held to be directly invaded by the nationalisation of Banks. It is in this context that Bank Nationalisation case held...or dispose of the same property. In Bank Nationalisation case (1970) 1 SCC 248, (1970) 3 SCR 530 it is said that the...acquisition which left the Banks free to do business other than banking was rendered unreasonable by reason of the Banks being deprived of the wherewithal to carry on the business. The right guaranteed...
...nationalised. At the commencement the process of nationalisation of these banks was not smooth sailing. On the Government of India taking a decision to nationalise the banking business of 14 banki...alteration that might be made by the Bank.9. Upon nationalisation of the 14 banks it became necessary to rationalise the terms and conditions of service of the employees ...the banks, particularly in view of the varying terms and conditions of service that existed in different banks prior to nationalisation which were continued by virtue of sub-section (2) ...
...representatives were brought on record. When the suit was filed, the appellant Bank was called the Canara Bank Ltd. After the nationalisation of banks it became the Canara Bank which is the appellant before us...was a customer of the three respondent banks and maintained with each of them a current account. The banks were authorised to pay cheques on behalf of the company if signed by its Managing Director or...two authorised signatories. The banks agreed to send the appellant periodic statements which were deemed to be confirmed unless the customer notified the bank of any error therein by a specified time...
.... 5, Federation of Indian Chamber of Commerce & Industry, No. 6 Institute of Chartered Accountant of India, No. 7, United Forum of Banks' Unions to offer their comments (a) in respect of ...Economist Adviser to GOI within a period of one month. Which will submit its report, in two months time, suggesting preventive measures, including denationalisation of Public Sector Banks...banks, as a remedical measurer.”2. The party-in-person, who claims to be President of Jagte...
...In Civil Appeal No. 1260 of 19811. Upon the nationalisation of banks, the undertaking of the Bank of India Limited was transferred to the Ban...of India, the first appellant. Section 19 of the Banking Companies' (Acquisition and Transfer of Undertakings) Act, 1970, empowered the Board of Directors thereof, after consultation with the Reserve...Bank and with the previous sanction of the Central Government, to make regulations not inconsistent with the provisions of the Act to provide for all matters for which provision was expedient for the...
...-government agencies. The very purpose of nationalisation of banks or of incorporation of these financial institutions is to render financial assistance in manufacture and production of g...the object and the provisions of SICA, perhaps, Mr. Subramanium's submissions may sound unanswerable. But I think, in the present context when financial institutions such as Nationalised Banks, Finance...1. In this summons for judgment, Mr. Subramanium relying on several judgments (some of them from the Division Bench of our own High Court) submitted that there is no defence available to...
...situation and thus various norms for financial institutions were brought into force, and other steps taken like the nationalisation of banks at the relevant stage.The objective...Writ Petition under Article 226 of the Constitution of India, praying for issuance of a writ of...consequently directing the respondents 1 to 3 to regulate the rate of interest being charged by the 4th and 5 respondents, the non-baking financial institutions and to curb the menace of collecting...
...competence in regard to the Act of 1969. Counsel for the petitioner contended that the Act was for nationalisation of banks and there was no legislative entry regarding nationalisation and therefore that...Section 22 of the Act of 1949. The concept of sale in such a situation is unreal. Furthermore, the possibility of nationalisation of undertakings like banks cannot be ruled out. Possibili...shown. The statement of objects and reasons shows that there was considerable speculation in the country regarding Government's intention with regard to “nationalisation” of banks during few days...
...assessment year 1970-71?”2. Consequent upon the nationalisation of banks and acting under the Banking...nationalisation of banks and acting under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, the...1. In compliance with the direction of this court contained in T.C No. 472 of 1977, the Tribunal has referred the following question for the opinion of this court:“Whether...
...expression “property” in R.C Cooper v. Union of India [1970] 40 Comp Cas 325, 353, 354 (SC). In that case, which related to the nationalisation of banks, the Supreme Court...The Judgment of the Court was delivered bySethuraman, J.:— In both these cases the Tribunal has made reference under section 256(1) of the Income-tax Act..., 1961, raising the following questions:T.C No. 175/71:“(1) Whether, on the facts and in the circumstances of the case, the decision of the Tribunal in holding...
.... The Central Bank of India was also one of the banks like Allahabad Bank that was nationalised. Before nationalisation the retirement age of officers of the Central Bank of India was 60 ...prior to 19th July, 1969 had acquired under the circular issued by the Central Bank of India Limited on 11th March, 1969 before nationalisation of the banks.” The corresponding circular of the...the age of superannuation, the said officers continued to enjoy the benefit of the condition of service relating to retirement which was in existence prior to nationalisation of banks. But as rega...
...of banks. The Court held that the provisions impugned therein are ultra vires. In that situation, it was held:“Impairment of the right of the individual and not the...S.B Sinha, J.—Introductory remarks1. Applicability of the provisions of the Wild Life (Protection) Act, 1972 is in...question in this set of appeals which arise out of a common judgment and order dated 20-3-1997 passed by a Division Bench of the Delhi High Court. The appellants herein are engaged in the business of...
...., [1972] 42 Comp Cas 72 (Bom). In this case, after the nationalisation of banks, the defunct Central Bank of India Ltd. sought to enter into a sc...The Judgment of the Court was delivered byDipak Kumar Sen, J.:— W.H Targett and Co. Ltd., the petitioner, seeks to transfer about 1 bigha, 5 cottahs and 19 sq. ft. land in...premises No. 20, Burdwan Road, Calcutta, to Wall Street Investment P. Ltd. against allotment of a number of shares of the latter in favour of the former by way of an arrangement under Chap. 3 of t...
...Committee appointed by the RBI on "The Training and Development of Higher Banking Personnel" of 1969 has been placed. In 1969, nationalisation of banks undertaken by the Government of India brough...nationalisation of banks in 1969. In our considered opinion, the objectives for which the assessee is set-up and the manner in which it is managed, i.e., through a Governing Board consisting, inter-alia, of...management and has an all-India character. The assessee-society has its members, the Reserve Bank of India, State Bank of India, other subsidiaries of State Bank of India and 19 nationalised banks. The...
...constituted under the provisions of the Banks Nationalisation Act. The said premises were let out to Pt. K.B Parsai, the appellant in this appeal, for a period of three years with effect from February 1.... Punjab National Bank and Allahabad Bank, constituted under the provisions of the Banks Nationalisation Act. It has been urged by Shri Yogeshwar Prasad, that the premises belonging to a nationalised bank do not fall within...corporation established by a Central Act, viz. the Banks Nationalisation Act, and the premises belonging to a nationalised bank are ‘public premises’ under Section 2(e) (2)(ii) of the Public Premises...
...encouraged banks and other financial institutions to liberalise the grant of loans and other credit facilities to the industrial entrepreneurs. With the nationalisation of banks, this policy got a boost...property of the dealer or such other person, who is liable to pay sales tax, etc. are inconsistent with the provisions contained in the Recovery of Debts Due to Banks and Financial Institutions Act, 1993...Act shall hold the field.”16. The Division Bench then noted that Section 13 of the Securitisation Act does not create first charge in favour of the banks; that...
...computing the 'capital gains' assessable for the asst. yr. 1970-71 ?"
2. Consequent upon the nationalisation of banks and acting under the...counsel appearing for the Department as well as learned counsel appearing for the assessee. The fact remains that consequent on the nationalisation of banks and acting under the...The Court
1. In compliance with the direction of this Court contained in the Tribunal has referred the following question for the opinion of this Court...
..., nationalisation of banks undertaken by the Government of India brought in the policy of social control over banking which intended to provide a new direction to the banking industry in India. Since banki...ti tu te of Bank Management further the national policy relating to banking sector consequent to nationalisation of banks in 1969. In our considered opinion, the objectives for which the assessee is...being charged and subscriptions are received from the member-banks which generates surplus in the course of activities, and thus, the activities are not for education. It is well understood that...
...India Officers Service Rules and the second proviso to Rule 19(1) is not applicable to the petitioner as the date of July, 1959 relates to the nationalisation of Banks and all those persons..., is to the effect that “in the case Ex. ECOs/SSCOs re-appointed in the Public Sector Banks after nationalisation of banks i.e 19th July, 1969, the age of retirement would be 58 years even though they...S.V Maruthi, J.:— The question involved in this writ petition is the applicability of the second proviso to Rule 19(1) of the State Bank of India Officers Service...