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Judgment Search Results Home > Cases Phrase: state bank of india subsidiary banks act 1959 section 25a fit and proper status of an elected director Page 1 of about 8 results (0.043 seconds)

Mar 06 2014 (HC)

The Managing Director Vs. R. Chandrasenan

Court : Kerala

..... time being in force, no person shall be eligible to be elected as director under clause (d) of sub-section (1) of section 25 unless he is a person having fit and proper status ..... challenged by the writ petitioners. the reserve bank of india has framed guidelines in regard to fit and proper criteria for electing directors on the board of governors of the state bank of india. in this context, he drew our attention to section 25a (2) & (3) of the state bank of india (subsidiary banks) act, 1959. section 25 a (2) & (3) reads as follows: "section 25a (2): without prejudice to the provisions of sub-section (1) and notwithstanding anything to the contrary ..... contained in this act or in any other law for .....

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Dec 01 1988 (HC)

Bombay Swadeshi Stores Vs. State Bank of Mysore

Court : Karnataka

Reported in : ILR1989KAR2506

..... of the state bank of india (subsidiary banks) act 1959. the preamble to the act reads:'an act to provide for the formation of certain government or government associated banks as subsidiaries of the state bank of india and for the constitution, management and control of the subsidiary banks so formed, and for matters connected therewith, or incidental thereto.'section 3 empowers the central government to establish the state bank of mysore and a few other state banks. that section reads:establishment ..... the purpose of the act (section 15). the state bank has the power to give directions and instructions to a subsidiary bank which are binding on them (section 24). the composition of the board of directors is specified in section 25 itself, among whom one is to be nominated by the reserve bank, not more than five by the state bank of india and one by the central government (section 25). the central government ..... has the power to f ix the term of office of directors appointed under clause (a) and clause (b) of sub-section (1) of section 25 (section 26). the state bank has the power to appoint managing director of a subsidiary bank (section 29). a subsidiary bank is required to furnish .....

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Apr 11 2007 (HC)

M.K. Vijayalakshmi W/O K. Srinivasa Murthy Vs. the State by Cbi/Spe

Court : Karnataka

Reported in : ILR2007KAR2439; 2007(4)KarLJ700; 2007(3)KCCR1709; 2007(3)AIRKarR495.

..... , apart from certain other state banks. thus, it is clear that the state bank of mysore is the subsidiary bank of state bank of india section 4(2) of the said act makes it further clear that the state banks established under the provisions of state bank of india (subsidiary banks) act, 1959, are the body corporates with perpetual succession. the body corporate constituting each of the new state banks established, including state bank of mysore, shall consist of state bank of india and other shareholders, if ..... the petitioner is a public servant and is liable to be prosecuted for the offences committed by her under the provisions of prevention of corruption act, 1947.5. the second question raised by the petitioner is also properly answered by the court below in the impugned order. it is no doubt true that the central government may have to pass an order ..... issued by the state government or by the central government, the same can be gone into during trial.6. except the aforesaid two points, no other points are argued by the petitioner. looking to the totality of the facts and circumstances of the case, as there is prima facie case for trial against the petitioner, this is not a fit case to .....

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Nov 17 1978 (HC)

State Bank of India Vs. Kalpaka Transport Co. Pvt. Ltd. and anr.

Court : Mumbai

Reported in : AIR1979Bom250; (1980)82BOMLR318

..... state bank of india. they have branches all over india and all the former indian states' banks have been taken over by them as subsidiary banks. the state bank has been created under the state bank of india act of 1955 (no. 23 of 1955) and all the former states' banks and government associated banks were taken over by the state bank of india (subsidiary banks) act, 1959. various kinds of banking business are being carried out by the state bank of india ..... of the partners of kerala transport were directors of the respondents-company, when the liability arose. simply because they involve the manager of the state bank of mysore, the bank could not countenance such a defence. if the two directors of the present respondents are parties to ..... authorities' under article 12 of constitution. in the case of the last two mentioned corporations, their employees are not given the status of public servants, nor have they any powers to enforce obedience on pain of penalty. however, the life insurance corporation has ..... government has a right to refused to deal with any person without assigning any reason or for any reason that it thinks fit. therefore, he cannot seek to set aside such refusal under article 226 on grounds of violation of article 14, or ..... state can enter into contract with any person it chooses. no person has a fundamental right to insist that the government must enter into a contract with him. a citizen has a right to claim equal treatment to enter into a contract which may be proper .....

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Oct 15 1997 (SC)

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

..... appointed as set out herein and two directors to be elected in the prescribed manner by the shareholders other than the state bank. the section also provides for a director to be nominated by the central government in consultation with the state bank.10. 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 ..... these provisions, it is submitted before us that the business of each of the subsidiary banks is under the control and management of the state bank of india and, therefore, the employees of the subsidiary banks should be considered as, in effect, employees of the state bank of india. sub-section (2) of section 50, however, of the state bank of india (subsidiary banks) act, 1959 provides as follows:'50. (2) for the removal of doubts, it is hereby ..... state bank of india (subsidiary banks) act, 1959 was passed. the statement of objects and reasons states, inter alia, that the future of certain major state-associated banks which are owned in part by the state governments or with which such governments have been closely associated, has been under consideration for some time. the question has recently been comprehensively re-examined, with particular reference to the necessity for making adequate and proper .....

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Jan 31 1974 (HC)

Ramesh Krishna Rao Vs. State Bank of India

Court : Mumbai

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

..... aforesaid elaboration mr. 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 ..... 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 ..... bank thought fit to terminate his services in the interest of bank. by a letter of the managing director dated february 15, 1967 the petitioner was informed that the executive committee of the central board of the state bank had resolved that his services be terminated in terms of rule 18 of the state bank of india ..... whom powers are conferred by law.'and according to him, this particular observation was very wide in its effect and should be given proper weight. it is true that this observation could be interpreted in a wide manner but then this observation will have to be read ..... breach of contract. this is the normal rule and that was applied in barbar's case and francis' case. but when a statutory status is given to an employee and there has been a violation of the provisions of the stature while terminating the services of such an .....

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Mar 12 2003 (HC)

Commissioner of Income-tax Vs. State Bank of India

Court : Mumbai

Reported in : (2003)181CTR(Bom)59; [2003]261ITR82(Bom)

..... said act of 1959 indicates reconstitution of the state bank of patiala, the state bank of saurashtra, the state bank of travancore, etc., which were earlier state associated banks owned in part by the state governments. these banks were reconstituted as subsidiaries of the state bank of india. the state bank of india was constituted under the state bank of india act of 1955. under section 32 of the said act of 1955, the state bank of india was required to act statutorily as agent of the reserve bank of india. section ..... department, contended that the state bank of india had provided subsidy to its subsidiaries, viz., the state bank of saurashtra, the state bank of patiala, etc., under section 48 of the state bank of india (subsidiary banks) act, 1959. he contended that under section 48 of the said act, 1959, subsidy is provided by the state bank of india to meet the cost of any specific programme of development undertaken by the subsidiary bank. he submitted that when the state bank of india gave a subsidy, it ..... the state bank of india. similarly, profits were earned by the subsidiaries and not the state bank of india. at the highest, by giving subsidy under section 48(1) of the act, the state bank of india got a business advantage. in the circumstances, we hold that the expenditure incurred by the state bank of india in giving subsidies to the state bank of saurashtra, the state bank of patiala, etc., under section 48(1) of the said act of 1959, represented .....

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Jul 03 2008 (HC)

State Bank of Mysore Rep. by Its Chief Manager, Personnel, Sri. G. Raj ...

Court : Karnataka

Reported in : 2009(1)AIRKarR90

..... company within the meaning of section 591 of that act;(da) 'corresponding new bank' means a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 (5 of 1970), or under section 3 of the companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980);(nd) 'subsidiary bank' has the meaning assigned to it in the state bank of india (subsidiary banks) act, 1959;11. when these two writ ..... the relief sought for and on the number of persons approaching the court; that as the petitioner had sought for relief in respect of each of the branches, it was proper at that time to insist payment of court fee on such basis, and prayer for refund of court fee cannot be entertained just because the petitioner has succeeded on the ..... notice or if in the opinion of the assessing authority the accounts and papers are incorrect or incomplete or unreliable, the said authority, shall, after such enquiry as it deems fit or otherwise, assess the tax due to the best of its judgment.(3) if an employer has failed to get himself registered or being registered, has failed to file any ..... notices on other branches of the petitioner, who have not been issued notices so far;d) issue such other writ or writs or directions which this hon'ble court deems fit on the facts and circumstances of the case; ande) direct the respondent to pay the costs of this writ petition.in wp no. 36339 of 2003 is sought for, an .....

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Nov 24 1981 (HC)

State Bank of Bikaner and Jaipur Employees Association and anr. Vs. St ...

Court : Chennai

Reported in : (1982)ILLJ413Mad

..... state bank of india (subsidiary banks) act, 1959 (no. 38 of 1959), the state bank of india, with the approval of the reserve bank of india and in consultation with the board of directors of the state bank of bikaner and jaipur hereby makes, in supersession of the bank of bikaner ltd, staff provident fund regulations and the bank ..... second respondent is a subsidiary of the first respondent. section 63(1) of the act empowers the state bank of india, with the approval of the reserve bank of india, to make in respect of a subsidiary bank the regulations not inconsistent with the act and the rules made thereunder ..... of the petitioners is that no exception could be taken to the interest credited to the fund and a proper interpretation of regulations 11, 12 and 18 will amply bear out that there is no prohibition for the payment ..... for such purpose connected with the fund in such manner as the trustees shall in their absolute discretion thin fit.' hence, it is not possible to countenance an argument that the fund as such cannot be allowed to earn ..... course of procedure, litigation and appeal, recourse cannot be had to declaration in addition. a question of status, e.g., nationality or of members of the house of commons or of a local authority may be established by ..... chairman of the state bank of india, and if for any reason he is unable to be present at a meeting, a director authorised by the chairman in writing in this behalf and in the absence of such authorisation any trustee elected by the trustees .....

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Jul 03 1991 (HC)

B. Seshagiri Rao Vs. State Bank of Hyderabad and ors.

Court : Andhra Pradesh

Reported in : 1991(2)ALT600; (1992)ILLJ802AP

..... scrutiny should not result in the court substituting the views for those of the selection committee. 7. the state bank of hyderabad (officers') service regulations, 1979 made in exercise of the power conferred by section 63 of the state bank of india (subsidiary banks) act, 1959 came into force with effect from october 1, 1979. the promotions in question were effected prior to that date. ..... november 4, 1978 as a consequence of which all the promotions made during the above period were set aside. thereafter an interim promotion policy was devised by the state bank of hyderabad as a consequence of which 17 promotions were effected on december 2, 1978, one promotion on september 24, 1979 and 17 promotions on august 9, ..... follows : on a specially designed format the performance of the eligible officers should be incorporated as a first stage. thereafter the screening committee comprising the managing director of the bank and two general managers will go through the performance data in respect of all eligible officers and select for interview from among them 'whose performance has reached ..... standard of efficiency' and who possess adequate potential to occupy senior management positions. thereafter the selection committee comprising the managing director of the bank, one of the non-official directors of the bank and the head of the subsidiary banks department will interview the officers and give individual ratings. finally the performance data and the ratings in the personal interview are .....

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