Topic
The Supreme Court held that RBI's supersession power under Section 36AAA BR Act for multi-State co-op banks is not subject to Article 243ZL's six-month cap, allowing up to five years aggregate. It also ruled that consultation with State Government is not required for multi-State banks, unlike single-State societies.
The Supreme Court ruled that amalgamation of a tenant bank under Section 45(7) of the Banking Regulation Act, without the landlord's written consent, constitutes a ground for eviction under Section 14(1)(b) of the Delhi Rent Control Act. This holding applies regardless of the involuntary nature of the amalgamation, impacting tenancy rights and corporate restructuring in property disputes.
The Kerala High Court has ruled that the Reserve Bank of India cannot supersede a co-operative bank’s board under Section 36AAA without first consulting the state government, making state consultation a mandatory procedural step. This decision strengthens the federal structure of co-operative banking regulation and protects state-level oversight, directly impacting RBI’s regulatory autonomy and co-operative banks’ governance across India.
Delhi High Court holds that acquittal on benefit of doubt does not entitle employee to count suspension period as service for pension benefits unless fully exonerated.