Supreme Court · 2006 INSC 560 · Decided 28 August 2006
Ganesh Bank Kurundwad LTD. and ORS. v. The Union of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2006 INSC 560 · [2006] SUPP. 5 S.C.R. 437
- Case number
- CIVIL APPEAL No. 3698/2006
- Decided
- 28 August 2006
- Bench
- ARIJIT PASAYAT, C.K. THAKKER (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
B Banking Regulation Act, 1950-Sections 45 (/) and 36 (AB)-Bank incurring huge losses-Imposition of moratorium in respect of Bank by RBI and order of amalgamation of bank with private sector commercial bank, within one month of order of moratorium-Correctness of-Held Moratorium C imposed justified based on negative net worth, risk weighted assets ratio, high level non-performing assets of the bank and its inability to infi1se fresh capital-Federal Bank being a strong bank, amalgamation of the bank with it in interest of depositors and no malafide involved-A/so RBI has necessaiy D powers to
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