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1 - 7 of 7 (0.45 seconds)Central Bank Of India vs Ravindra And Ors on 18 October, 2001
"6. It may also be stated that RBI circulars
have statutory force and are binding on the
constituent Banks and FIs who are under a
statutory obligation to comply with the mandates
of the circular, refer : Central Bank of
India v. Ravindra, (2002) 1 SCC 367 where the
Supreme Court held that the power conferred by
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sections 21 and 35-A of the Banking Regulation
Act, 1949 is coupled with a duty to act and that
the Reserve Bank of India, as the prime banking
institute of the country, is entrusted with a
supervisory role and is empowered to issue
binding directions having statutory force in the
interest of public."
Section 21 in The Banking Regulation Act, 1949 [Entire Act]
Section 35A in The Banking Regulation Act, 1949 [Entire Act]
Section 39 in The Companies Act, 1956 [Entire Act]
The Companies Act, 1956
Dreamlight Vyapaar Pvt. Ltd vs The Karur Vysya Bank Limited & Ors on 31 March, 2023
In the case reported in 2023
SCC OnLine Cal 788 (Dreamlight Vyapaar Pvt. Ltd vs. Karur Vysya
Limited and Others), the Coordinate Bench of this Court held that:
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