Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Banking Companies (Acquisition and Transfer of Undertakings) Act |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Promotion to the Post of Assistant General Manager in terms of procedure laid down in a Circular as per Regulation 17(1)-Circular-Challenge to- Single Judge of the High Court held the Regulation as arbitrary as without guidelines-On appeal, Division Bench of the High Court held the Regulation not ultra vires the Constitution of India, however, observed that the procedure laid down in Section 19 of the Act should have been followed while formulating the promotion policy-On appeal, held: Parliament has conferred essential legislative functions upon the Board of Directors/Bank to make regulations-While formulating a promotional policy 'a corresponding new Bank must follow directions of the Central Government in consultation with the Reserve Bank of India-Amendments, if proposed in the Regulations, has to be placed before both the Houses of Parliament-Hence the Regulation does not confer any unguided, uncanalised and arbitrary power on the Bank while laying down the promotion policy-However, procedure laid down therefore is irrelevant for the purpose of formulating the promotion policy decision.Words and Phrases: 'corresponding new Bank'-Meaning of in the context of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.Legal Maxims:Maxim 'ut res magis valeat quam pereat'-Applicability of-Discussed. |
Judge | Hon'ble Mr. Justice S.B. Sinha |
Neutral Citation | 2004 INSC 99 |
Petitioner | Andhra Bank |
Respondent | B. Satyanarayana And Ors. |
SCR | [2004] 2 S.C.R. 304 |
Judgement Date | 2004-02-12 |
Case Number | 1877 |
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