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Judgment Search Results Home  Phrase:reserve bank of india act 1934 2 of 1934 section 36

Nov 12 2002

CIT Vs. Catholic Syrian Bank Ltd.

  • Decided on : 12-Nov-2002

Court : Kerala

Reported in : [2003]130TAXMAN447(Ker)

... India.(2A)(a) Notwithstanding anything contained in sub-section (1), or in sub-section (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962) :(i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), and(ii) every other banking ... section (1), or in sub-section (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962) :(i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), and(ii) every other banking company, in addition to the cash reserve ... section (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962) :(i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), and(ii) every other banking company, in addition to the cash reserve which it is required to maintain under section ...

Dec 05 2002

Commissioner of Income-tax Vs. Syndicate Bank

  • Decided on : 05-Dec-2002

Court : Karnataka

Reported in : (2003)180CTR(Kar)1; [2003]261ITR528(KAR); [2003]261ITR528(Karn)

... section (2) of Section 11 to be made with the Reserve Bank by a banking company incorporated outside India and any balances maintained in India by a banking company in current account with the Reserve Bank or the State Bank of India or with any other bank which may be notified in this behalf by the Central Government, including in the case of a scheduled bank the balance required under Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934 ... bank the balance required under Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), to be so maintained, shall be deemed to be cash maintained in India ; (2A)(a) Notwithstanding anything contained in Sub-section (1) or in Sub-section (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962),-- (i) a scheduled bank ... India ; (2A)(a) Notwithstanding anything contained in Sub-section (1) or in Sub-section (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962),-- (i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), and (ii) every other banking ...

Dec 05 2002

CIT Vs. Syndicate Bank

  • Decided on : 05-Dec-2002

Court : Karnataka

Reported in : [2003]127TAXMAN287(Kar)

... section (2) of section 11 to be made with the Reserve Bank by a banking company incorporated outside India and any balances maintained in India by a banking company in current account with the Reserve Bank or the State Bank of India or with any other bank which may be notified in this behalf by the Central Government including in the case of a scheduled bank the balance required under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934 ... bank the balance required under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), to be so maintained shall be deemed to be cash maintained in India;(2A)(a) Notwithstanding anything contained in sub-section (1) or in subsection (2), after the expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962) :(i) a scheduled bank ... Banking Companies (Amendment) Act, 1962 (36 of 1962) :(i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), and(ii) every other banking company, in addition to the cash reserve which it is required to maintain under section 18, shall maintain in India ...

Dec 02 1960

Itty Kurian and Anr. Vs. Union of India (UOI) and Ors.

  • Decided on : 02-Dec-1960

Court : Kerala

Reported in : AIR1962Ker267

... banks'.60. Section 36(2) of the Banking Companies Act, 1949, makes provision for the Reserve Bank to make annual Report to the Central Government on the trend and progress of banking in the country with particular reference to its activities under Clause (2) of Section 17 of the Reserve Bank of India Act 1934, including in any sued reports, its suggestions, if any, for the strengthening of banking business throughout the country. Accordingly, the Reserve Bank ... 2) of Section 17 of the Reserve Bank of India Act 1934, including in any sued reports, its suggestions, if any, for the strengthening of banking business throughout the country. Accordingly, the Reserve Bank has sent a Report for the period 1949-1932 en-titled 'Trend and Progress of Banking in India. 1949-1952.' In that report in chapter 2 under the heading 'History of Banking Legislation in India ... Reserve Bank also is an institution which functions under the Reserve Bank of India Act 1934. Again, the State Bank of India, which really is a successor to the original Imperial Bank of India, is functioning under a similar statute namely, Central ACT XXXII/1955. Banking Com-panies referred to in Section 49-A, are all subject to the provisions of the Indian Companies Act as well as the Banking Companies Act ...

Aug 31 2000

Deputy Commissioner Of Income Tax Vs. Dhanalakshmi Bank Ltd.

  • Decided on : 31-Aug-2000

Court : Income Tax Appellate Tribunal (ITAT) - Cochin

... section (2) of Section 11 to be made with the Reserve Bank by a banking company incorporated outside India and any balance maintained in India by a banking company in current account with the Reserve Bank or the State Bank of India or with any other bank which may be notified in this behalf by the Central Government, including in the case of a scheduled bank the balance required under Section 42 of the RBI Act, 1934 (2 of 1934 ... bank the balance required under Section 42 of the RBI Act, 1934 (2 of 1934), to be so maintained, shall be deemed to be cash maintained in India : (2-A) (a) Notwithstanding anything contained in Sub-section (1) or in Sub-section (2), after expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1962),-- (i) a scheduled bank ... Banking Companies (Amendment) Act, 1962 (36 of 1962),-- (i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under Section 42 of the RBI Act, 1934 (2 of 1934), and (ii) every other banking company, in addition to the cash reserve which it is required to maintain under Section 18, shall maintain in India ...

Aug 31 2000

Dy. Cit Vs. Dhanalakshmi Bank Ltd.

  • Decided on : 31-Aug-2000

Court : Income Tax Appellate Tribunal (ITAT) - Cochin

... section (2) of section 11 to be made with the Reserve Bank by a banking company incorporated outside India and any balance maintained in India by a banking company in current account with the Reserve Bank or the State Bank of India or with any other bank which may be notified in this behalf by the, Central Government, including in the case of a scheduled bank the balance required under section 42 of the RBI Act, 1934 (2 of 1934 ... bank the balance required under section 42 of the RBI Act, 1934 (2 of 1934), to be so maintained, shall be deemed to be cash maintained in India : (2-A) (a) Notwithstanding anything contained in sub-section (1) or in sub-section (2), after expiry of two years from the commencement of the Banking Companies (Amendment) Act, 1962 (36 of 1964 (i) a scheduled bank ... Banking Companies (Amendment) Act, 1962 (36 of 1964 (i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the RBI Act, 1934 (2 of 1934), and (ii) every other banking company, in addition to the cash reserve which it is required to maintain under section 18, shall maintain in India ...

Nov 28 1986

Reserve Bank of India Vs. Dhanalakshmi Funds (India) Ltd. and Anr

  • Decided on : 28-Nov-1986

Court : Chennai

Reported in : [1987]167ITR658(Mad)

... March 17, 1986, in three criminal revision cases, viz., 34, 35 and 36 of 1986, on his file. Those revision peitions came before him under the following circumstances. 2. As per section 45S(1) of the Reserve Bank of India Act, 1934 (2 of 1934), as it stands amended now, hereinafter referred to as 'the Act', no person, being an individual or a firm or an unincorporated association ... Asian Integrated Finances and Industrial Corporation, 95, Mount Road, Madras-2, are two partnership firms, hereinafter referred to as 'the firms'. On the belief entertained that these firms, and a few others were accepting deposits in contracention of the provisions of section 45S of the Act, the Reserve Bank of India filed three petitions before the Chief Metropolitan Magistrate, Egmore, for the ... that the Reserve Bank of India has not acted under the provisions of Chapter III-B which wasopen to it has chosen to act under chapter III-C of the Act. It also observed that, under the circumstances, the administrators of the company to whom the records now belong, would not be guilty of any conttracention under section 45S of the Act. On the ... case. Secondly, section 45S of the Act deals with the time of the offence. As per that section, each category, as long as it belongs to that category, should not have deposits from more than the number of depositors specified against the category in the table indicated in that section. Therefore, before launching any prosecution, the Reserve Bank of India would have only ...

Aug 23 2013

Prabhakar Dattatraya Gune and Others Vs. Vishnukant Bapurao Urankar an ...

  • Decided on : 23-Aug-2013

Court : Mumbai

... Section 45 MB (2) of the Reserve Bank of India Act, 1934, imposed injunction to sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the Reserve Bank of India. (c) KIFL s attention was also invited to the provisions of Section 58 B (5) r.w. Section 58C of the Reserve Bank of India Act, 1934 ... 36 Mr. Pradhan, therefore, submits that the Company Law Board has taken care of interest of depositors who are aggrieved by failure of the KIFL to redeem the deposits. A comprehensive scheme of the Company Law Board provides for all eventualities. It sets out consequences of default in complying with the scheme. The Reserve Bank of India Act, 1934 ... Section 45 (1) (A) of the Reserve Bank of India Act, 1934. In the said Petition it was averred that KIFL had on 04.07.1997 applied before the Reserve Bank of India for issuance of a certificate of registration under Chapter IIIB of the Reserve Bank of India Act, 1934 to carry on business of Non Banking Financial Institution. During an inspection by the Reserve Bank of India ... Section 45NB of the Reserve Bank of India Act, 1934, then, such powers can be exercised in terms of the said Act by the authority prescribed therein. The authorities are empowered to hold an inquiry into affairs of the Non Banking Financial Company. Thus, the area and field is covered by the Reserve Bank of India Act, 1934. Our attention has been invited to Chapter-V of the Reserve Bank of India Act, 1934 ...

Jun 05 1987

H.H. Marthanda Varma and H.H. Bhupendra Narayana Singh Vs. Registrar o ...

  • Decided on : 05-Jun-1987

Court : Karnataka

Reported in : [1988]64CompCas125(Kar); ILR1987KAR2257

... of the directions issued by the Reserve Bank of India from time to time. As per the provisions of clues (c) of sub-section (3) of section 58A of the Act, any deposits received by the company in contravention of any directions made under Chapter III-B of the Reserve Bank of India Act, 1934 (2 of 1934), before the commencement of the companies (Amendment ) Act, 1974, should be repaid in ... . Exhibits P-21 to P-27 are the copies of the complaints produced along with the complaint referred to by the witness in the course of his evidence. 36. The trial court has referred to the evidence of PW-1 and the documents admitted in evidence for the respondent spoken to by PW-1. Though the trial ... section 58A of the Act, any deposits received by the company in contravention of any directions made under Chapter III-B of the Reserve Bank of India Act, 1934 (2 of 1934), before the commencement of the companies (Amendment ) Act, 1974, should be repaid in full on or before the 1st day of April, 1975, and such repayment shall be without prejudice to any action taken under the Reserve Bank of India Act ... section (3) of section 58A of the Act, any deposits received by the company in contravention of any directions made under Chapter III-B of the Reserve Bank of India Act, 1934 (2 of 1934), before the commencement of the companies (Amendment ) Act, 1974, should be repaid in full on or before the 1st day of April, 1975, and such repayment shall be without prejudice to any action taken under the Reserve Bank ...

Jul 05 2005

M. Babu Rao and Ors. Vs. Deputy Registrar of Co-operative Societies/Of ...

  • Decided on : 05-Jul-2005

Court : Andhra Pradesh

Reported in : 2005(4)ALD582; 2005(4)ALT327; [2005]126CompCas708(AP); [2005]63SCL339(AP)

... Act' means the Deposit Insurance Corporation Act, 1961 (Central Act 47 of 1961).(b) 'eligible Co-operative Bank' means a co-operative bank as defined in Clause (gg) of Section 2 of the said Act.(c) 'Corporation' means the Deposit Insurance Corporation established under Section 3 of the said Act.(d) 'Reserve bank' means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 2 of 1934 ... Banks are a 'Co-operative Bank' within the meaning of the provisions of the 1949 Act?36. The amending Act 23 of 1965 added certain definitions to the 1949 Act. The Reserve Bank of India Act, 1934 contained certain definitions pertaining to Co-operative Societies pursuing banking business. Act 23 of 1965 introduced wide ranging amendments to the 1949 Act ... Bank' means a co-operative bank as defined in Clause (gg) of Section 2 of the said Act.(c) 'Corporation' means the Deposit Insurance Corporation established under Section 3 of the said Act.(d) 'Reserve bank' means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 2 of 1934).(e) all other expressions used in this Chapter but not defined shall have the meaning respectively assigned to them in the said Act ...

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