Court : Mumbai
Reported in : AIR1971Bom365
..... resolution aforesaid shall to the extent to which it is repugnant to the provision of this part become or be void as the case may be. the banking regulation act, as amended, in general provided for the minimum paid up capital and reserves, cash reserve, for obtaining the licences, for permission to open new places ..... banking corporations generally. an act known as the reserve bank of india act, 1934 was also passed by the central legislature. the banking regulation act was further amended in the year 1965 by act no. 23 of 1965, called the banking laws (application to co-operative societies) act, 1965 by which amendments were made to the reserve bank of india act, 1934 and the banking regulation act, 1949 for the purposes of regulating the banking ..... registrar is distinct and for different purposes. in taking action under section 78 of the societies act, there is not an encroachment on the powers of the reserve bank or any of the powers under the reserve bank act or the banking regulation act. assuming that there is some encroachment, such encroachment would be negligible and would not denude ..... business of certain co-operative societies and for matters connected therewith. by this act .....Tag this Judgment!
Court : Mumbai
Reported in : 2003(2)ALLMR583; 2003(3)BomCR347; 114CompCas378(Bom); 42SCL769(Bom)
..... the expression, 'as defined in clause (c) of section 5 of the banking regulation act, 1949'. by virtue of section 56(a)(i) of the banking regulation act, 1949 the meaning assigned to the word 'banking company' in clause 5(c) of the banking regulation act, 1949 would include co-operative bank section 56(a)(i) of the banking regulation act, 1949 inserted since march 1, 1966 provides without ambiguity that reference to the ..... to the 'banking company' in clause 5(c) of the banking regulation act, 1949 shall include reference to ..... word 'banking company' shall be construed as reference to co-operative bank throughout the banking regulation act. in other words the reference .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 63CompCas210(AP)
..... 21a of the banking regulation act (act no. 1 of 1984). the contention of the bank in substance is that the above section 21a of the banking regulation act of 1938 and the usurious loans act of 1918, as amended by the madras amendment act vii of 1937, to the loans given by the banks to the agriculturists. 7. banking regulation act and its meaning : the banking regulation act no. 1 of ..... the courts which would have normally decided the questions relating to rate of interest will now refuse by reason of section 21a of the banking regulation act to decide that issue. section 21a of the banking regulation act is, therefore, applicable only to individual cases. its purpose is to forbid the courts from making an individual investigation and to forbid the ..... policy of protective discrimination of the weak, the helpless and the hapless for realising the egalitarian goals of our constitutional directives and fundamental rights. section 21a of the banking regulation act does not merely wink at inequality. by withdrawing legal defences traditionally available to the debtors from the arena of court litigation, section 21a actively enforces inequality. the ..... further, as a matter of construction, it is not easy for me to hold that by the use of the generic word 'debtor', section 21a of the banking regulation act intends to refer to the agriculturists. agriculturists constitute a special and particular economic segment of the society found to be in dire need of statutory relief from their .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2005(4)ALD582; 2005(4)ALT327; 126CompCas708(AP); 63SCL339(AP)
..... business of banking. the nomenclature of the act was also amended to read--the banking regulation act, 1949 -in this judgment referred to as the 1949 act. the 1949 act applies to three (3) main classes of banks.(a) banking companies that are not nationalised;(b) nationalised banks (including the state bank of india, other nationalised banks, regional rural banks and any subsidiary banks); and ..... notification, specify.section 2 definitions:in this act, unless the context otherwise requires,-(d) 'bank' means-(i) a banking company,(ii) a corresponding new bank,(iii) state bank of india,(iv) a subsidiary bank; or(v) a regional rural bank;(e) 'banking company' shall have the meaning assigned to it in clause (c) of the banking regulation act, 1949 (10 of 1949).'(g) ..... (c) certain classes of co-operative banks.32. all the provisions of the 1949 act ..... competent, valid and operative.5. interpretation of the provisions of statutes of the union of india, including the 1993 act and the banking regulation act, 1949 [central act 10/49] (for short the 1949 act), fall for consideration. as competing claims as to the vitality of the union and state legislations fall for determination in .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : II(2003)BC680
..... ' and various types of such societies and 'banking' as appear in the kerala co-operative societies act, 1969 (act 21 of 1969). banking regulation act, 1949 (act 10 of 1949). reserve bank of india act, 1934 (act 2 of 1934), national bank for agricultural and rural development act, 1981 generally known as nabard act (act 61 of 1989) and the deposit insurance and credit guarantee corporation act, 1961 (act 47 of 1961) also requires to be ..... examined.3. banking is entry 45 in list i ..... public deposits of money withdrawable by cheque. if any person, let alone a co-operative society, contravenes the said provision or any provisions under the banking regulation act it is the duty and function of the reserve bank of india to protect the gullible public in public interest. therefore, the steps taken by them including the press release cautioning the general public regarding the .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1970SC564; 40CompCas325(SC); (1970)1SCC248; 3SCR530
..... many indian statutes: e.g., indian electricity act, 1910, sections 6, 7 & 7a; air corporation act, 1953, sections 16 & 17; imperial bank of india act, 1920, sections 3 & 4; state bank of india act, 1955, section 6(2), (3) & (4); state bank of india (subsidiary banks) act, 1959; banking regulation act, 1949, section 36 ae; and cotton textile companies act, 1967, sections 4(1) & 5(1 ..... with the directives under the social control legislation. this, it is said, is a reversal of the policy underlying section 36ae of the banking regulation act under which inefficient and recalcitrant banks are contemplated to be taken over by the government. we need express no opinion on this part of the argument. but the petitioner is ..... and expressions used in the ordinance and not defined, but defined in the banking regulation act, 1949, had the meaning respectively assigned to them in that act. thereby the definitions of 'banking' and 'banking company' in section 5(b) and section 5(c) of the banking regulation act were incorporated in the ordinance.8. the principal provisions of the ordinance were:(1 ..... 2. in india there was till 1949 no comprehensive legislation governing banking business and banking institutions. the central legislature enacted the banking companies act 10 of 1949 (later called 'the banking regulation act') to consolidate and amend the law relating to certain matters concerning banking. by section 5(b) of that act, 'banking' was defined as meaning 'the accepting, for the purpose of .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2003SC4325; 97(2004)CLT363(SC); 120CompCas63(SC); 2003(4)CTC418; JT2003(Suppl1)SC470; 2003(3)KLT876(SC); (2004)ILLJ161SC; 2003(8)SCALE143; (2003)10SCC733; 2004(1)S
..... such a statutory function.20. learned senior counsel appearing for the respondent has drawn our attention to the various provisions of the reserve bank of india act, 1934 (for short 'the rbi act'), the banking regulation act, 1941 and the industries (development and regulation) act 1951 so as to emphasise that there is deep and all pervasive statutory control and the control of the central government over the ..... suited to india to be considered when the international monetary position has become sufficiently clear and stable to make it possible to frame permanent measures'. section 46-a of the banking regulation act provides as under ;-'46a. chairman, director, etc., to be public servants for the purpose of chapter ix of the indian penal code.-[every chairman who is appointed on a ..... is submitted that the nature and the control over the companies is more or less of the same degree and nature as the control exercised over the banking companies under the banking regulation act. there is control and supervision over the functioning and working and the conduct of business of the companies, a watchful eye is kept over the interest of the ..... whose paid-up capital and reserves becomes at any time less than five lakhs of rupees, or(ii) which is, in the opinion of the bank after making an inspection under section 35 of the banking regulation act, 1949 (10 of 1949), conducting its affairs to the detriment of the interests of its depositors, or(iii) which goes into liquidation or otherwise .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2007SC1584; 2007(3)ALT1(SC); 137CompCas63(SC); JT2007(5)SC201; 2007(3)KLT302(SC); 2007(3)MhLj434; 2007(5)SCALE366; (2007)6SCC236; 2007AIRSCW2325; 2007(3)AIRKarR406
..... information. in section 45a(a) 'banking company' means a banking company as defined in section 5 of the banking regulation act, 1949 (10 of 1949) and includes the state bank of india, [any subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959 (38 of 1959), any corresponding ..... was found necessary to extract more important provisions of the banking regulation act, 1949 ['the br act'] and allied provisions of the reserve bank of india act, 1934 ['the rbi act'] to the co-operative banks in public interest. section 2(10) of the mcs act, 1960 defines 'co-operative bank' to mean a society which is doing the business of banking as defined in clause (b) of sub-section (1) of ..... vii to chapter xiv. the reserve bank of india act, 1934 [the rbi act] 16. in section 2(i) of the rbi act, 'co-operative bank', 'co- operative credit society', 'director', 'primary agricultural credit society', 'primary co-operative bank' and 'primary credit society' shall have the meanings respectively assigned to them in part v of the banking regulation act, 1949.chapter iii-a of rbi act deals with collection and furnishing of credit .....Tag this Judgment!
Court : Delhi
Reported in : 61CompCas153(Delhi); [1987(54)FLR261]; (1986)IILLJ354Del
..... of the public sector and determine its true role and importance as also the scheme and some of the provisions of the banking regulation act, 1949, the banking companies (acquisition and transfer of undertakings) act, 1970, and the relevant service regulations applicable to the petitioner. 16. freedom from foreign domination was a legitimate goal of the national movement. its achievement was, ..... in holding an enquiry. it may be useful to remember in this context that section 36aa of the banking regulation act provides that where the reserve bank is satisfied that in the public interest or for preventing the affairs of a banking company being conducted in a manner detrimental to the interests of the depositors or for securing the proper ..... administrative law. 17. the banking regulation act, 1949, which before its amendment in 1965, was known as the banking companies act, is an act to consolidate and amend the law relating to banking. prior to the amendment, the preamble used the expression 'banking company' which was substituted by the amendment to 'banking', inter alia, because the provisions of the act were extended in that ..... a company in which the public are substantially interested. section 19 empowers the board of directors of the corresponding new bank to make regulations not inconsistent with the provisions of the act after consultation with the reserve bank and with the previous sanction of the central government for all matters for which provision is expedient for the purpose .....Tag this Judgment!
Court : Delhi
Reported in : AIR1998Delhi95; 89CompCas438(Delhi)
..... it will be seen from the above figures that consequent on erosion of its capital and reserves, the provisions of section 11 of the banking regulation act could also not be complied with by the petitioner-bank. for the purposes of that section, value of capital and reserves means the real or exchangeable value and not nominal value which may be ..... the country to its advantage. the powers under the reserve bank of india act as also under the banking regulation act have been conferred on the bank with a view to fulfill these objectives. it is submitted that various powers under the banking regulation act are related to public interest or the interest of banking policy. the expression 'banking policy' has been defined in clause (ca) of ..... , 1996. intimation in this regard was given to respondent no. 2. 31. that, vide letter dated october 21, 1995, the reserve bank of india sent report of the inspection under section 35 of the banking regulation act, 1949, pertaining to the financial inspection as on december 30, 1994. it will be pertinent to submit here that inspection under section 35 ..... . these principles governing the banking business have been embodied in the banking laws of india, namely, the reserve bank of india act, 1934, and the banking regulation act, 1949; (b) the significance of the reserve bank's position as the central bank of the country needs no emphasis. as the central bank and as the primary regulator of the banking business, the reserve bank has been vested with very .....Tag this Judgment!