Court : Karnataka
Reported in : ILR1989KAR2506
..... government to establish the state bank of mysore and a few other state banks. that section reads:establishment ..... expression as defined in the act. the state bank of mysore is established under the provisions 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 ..... of new banks - with .....Tag this Judgment!
Court : Karnataka
Reported in : ILR2007KAR2439; 2007(4)KarLJ700; 2007(3)KCCR1709; 2007(3)AIRKarR495.
..... of india and other shareholders, if ..... state bank of mysore is also established, 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 .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1979Bom250; (1980)82BOMLR318
..... appellants are the 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, which include ..... was disposed of in accordance with the majority view.32. similar proposition arose before this court in the case of union of india v. a. k. mathiborwala, : (1974)76bomlr659 . respondents, mathiborwala, were registered as suppliers of timber with the director general of supplies and disposals of new delhi, which is the purchase organization of the central govt, since 1944. due to certain ..... hearing the respondents by two months from the date of this judgment.43. the appeal thus fails and is dismissed with costs, which are quantified at rs, 3000/- (three thousand).44. appeal dismissed.Tag this Judgment!
Court : Supreme Court of India
Reported in : [1998(79)FLR576]; JT1997(8)SC422; 1997(6)SCALE394; (1998)1SCC428; Supp4SCR475; 1998(1)LC107(SC); (1997)3UPLBEC2145
..... 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 ..... business of a subsidiary bank shall, as from the appointed day ..... the transfer of services of employees of existing banks. under section 24, the state bank may, from time to time give directions and instructions to a subsidiary bank in regard to any of its affairs and business, and that bank shall be bound to comply with the directions and instructions so given. subject to any such directions and instructions, the general superintendence and conduct of the affairs and .....Tag this Judgment!
Court : Mumbai
Reported in : (1974)76BOMLR552; (1974)IILLJ441Bom; 1974MhLJ845
..... . with a view to canvass the 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 purposes and which were in public interest ..... desirable for the efficient performance of its functions and determine the terms and conditions of their appointment and service. (2) the officers, adviser and employees of the state bank shall ..... entrusted to the central board which may exercise all powers and do all such acts and think as may be exercised or done by the state bank and are not by this act expressly directed or required to be done by the state bank in general meeting.'section 43 provides as under : '43. (1) the state bank may appoint such number of officers, advisers and employees as it considered necessary or .....Tag this Judgment!
Court : Mumbai
Reported in : (2003)181CTR(Bom)59; 261ITR82(Bom)
..... the 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 ..... incurred capital expenditure as the subsidy was given as cost of the development programme. he submitted that the subsidy was given by the state bank ..... of india .....Tag this Judgment!
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 ..... which is governed by the state bank of india [subsidiary banks] act, 1959 [for short 'subsidiary act']. in writ petition no. 37366 of 2003, m/s. vijaya bank, a nationalized bank under the provisions of the banking companies [acquisition and transfer of undertakings] act, 1980 [for short 'acquisition act, 1980'] and is identified under the provisions of the acquisition act, 1980 as a 'corresponding new bank' as defined in terms of section 2[b] of the ..... 2003 with effect from 01.04.2003, as violative of article 276(2) read with article 367(1) of the constitution of india and section 3(42) of the general clauses act in so far as the petitioner bank and its branches are concerned;c) issue a writ of prohibition or a direction in nature of a writ of prohibition restraining the respondents/ ..... 15(iv), 16, 17, 18(a), 19(i), 20(b), 21, 22, 27(b), 29(a), 29(b)(i), 31, 32(b), 34, 37, 40, 41(a), 42, 43, 44, 45, 46(d), 47, 49(b), 51(a), 52, 53, 54, 55, 56, 60, 61, 62, 64 and 66 of the schedule.explanation v. - no tax shall be levied under .....Tag this Judgment!
Court : Chennai
Reported in : (1982)ILLJ413Mad
..... powers conferred by s. 63 of the 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 of jaipur ltd., employees provident fund rules ..... out such duties and honour such obligations. 11. the 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, providing for all matters for which provision is ..... of directors shall have the authority to replace any trustee so nominate by them. meetings of the trustees 4. at every meeting of the trustees, the 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 ..... holding that the narrow concept of 'cause of action' and 'person aggrieved' and individual litigation is becoming obsolescent in some jurisdictions. it must fairly be stated that the learned attorney general has taken no objection to a non-recognised association maintaining the writ petitions.' 7. keeping in trend with the pronouncements of the supreme court, it is .....Tag this Judgment!
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, ..... 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 an acceptance ..... 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 .....Tag this Judgment!
Court : Kerala
Reported in : AIR1992Ker351
..... me to conduct the case and to make both ends meet'. he also denied that the account with the second respondent was being operated in his name and his wife's name.10. it is necessary to refer to the statutory provisions. section 52 of the state bank of india (subsidiary banks) act, (959 (corresponding to sec. 44 of the state bank of india act, 1955) reads as follows,:'52. obligation as to fidelity ..... third respondent. 7. questioning the said reply, the present writ petition was filed in this court.8. the learned single judge referred to the provisions of section 52 of the state bank of india (subsidiary banks) act, 1959 and held that the bank was under a duty to maintain confidentiality. the learned judge also held that the power of this court cannot be invoked for the purpose of collection ..... . national provincial and union bank of england, (1924) 1 kb 461. in that judgment, it was stated by bankes, l.j. that there is a ..... 'practices and usages customary' among bankers, the position appears to be as follows : in paget's 'law of banking', tenth edition, 1989 (chapter 15, pages 254 to 257), it is stated that there is a general duty of secrecy on the part of the bank subject to certain exceptions. the leading case is the one decided by the court of appeal in tournier v .....Tag this Judgment!