Supreme Court · 2011 INSC 183 · Decided 4 March 2011
K.K. Baskaran v. State REP. BY Its Secretary, Tamil Nadu & ORS.
- Court
- Supreme Court of India
- Citation
- 2011 INSC 183 · [2011] 3 S.C.R. 527
- Case number
- CIVIL APPEAL No. 2341/2011
- Decided
- 4 March 2011
- Bench
- MARKANDEY KATJU, GYAN SUDHA MISRA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; Companies Act
Headnote
Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 - Constitutional Validit:I A B of - Held: Is constitutionally valid - The Act does not C roncentrate on the transaction of banking or acceptance of deposits - It has been enacted to provide a speedy who were deceived by fraudulent financial establishments - Activities of these financial companies do not come within the term 'banking' as defined in the Banking D Regulation Act, 1949 or Reserve Bank of India Act, 1934 - Reserve Bank of India Act, Banking Regulation Act and Companies Act
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