Banking Law

Supreme Court mandates prior RBI consultation for Cooperative Bank board supersession: State of M.P. vs. Sanjay Nagayach (2013)

/ Banking Law, Cooperative Banks, Dipak Misra, Judges, K. S. Radhakrishnan, Madhya Pradesh Cooperative Societies Act, 1960, Madhya Pradesh Cooperative Societies Act, 1960 with Section 53, RBI Guidelines, Regulatory Compliance

Date of the Judgment: May 16, 2013 Citation: (2013) INSC 371 Judges: K. S. Radhakrishnan, J. and Dipak Misra, J. Can a state cooperative authority supersede a cooperative bank’s board of directors without consulting the Reserve Bank of India (RBI)? The Supreme Court of India addressed this critical question in a case concerning the District […]

Supreme Court mandates prior RBI consultation for Cooperative Bank board supersession: State of M.P. vs. Sanjay Nagayach (2013) Read Post »

Supreme Court settles the importance of civil court findings in departmental proceedings: Jasbir Singh vs. Punjab & Sind Bank (2006)

/ Banking Law, Departmental Proceedings, Embezzlement, Fraud, Indian Penal Code, 1860, Indian Penal Code, 1860 with Section 201, Indian Penal Code, 1860 with Section 409, Judges, Markandey Katju, Reinstatement, S.B. Sinha, Service Law

Introduction Date of the Judgment: 31st October 2006 Citation: Appeal (civil) 8046 of 2004 Judges: S.B. Sinha and Markandey Katju What happens when a bank employee is accused of fraud, acquitted in criminal court, but then faces departmental proceedings? The Supreme Court addressed this critical intersection of civil and service law in the case of

Supreme Court settles the importance of civil court findings in departmental proceedings: Jasbir Singh vs. Punjab & Sind Bank (2006) Read Post »

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