Supreme Court · 2004 INSC 137 · Decided 26 February 2004
MR. Pramod Malhotra and ORS. v. Union of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 137 · [2004] 2 S.C.R. 688
- Case number
- WRIT PETITION (CIVIL) No. 119/2001
- Decided
- 26 February 2004
- Bench
- S.N. VARIAVA, H.K. SEMA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Writ / Constitutional
- Acts & sections cited
- Constitution Article 21
Headnote
Banking Laws: . Banking Regulation Act, I987-Sections 22, 23, 45(2) and (7)-Sikkim C Banking Limited (SBL) applied for a licence, but RBI did not respond-Rather, RBI found several shortcomings and deficiencies in SBL functioning, yet authorised SBL to open a Branch in Delhi-Depositors depositing siphoning of funds-Amalgamation of the bank with another bank and under D the scheme depositors to be paid interest lesser than the contractual rate­ Depositors seeking re-payment of their amount at the contractual rate of interest by RBI-Writ Petition filed in Supreme Court-Held: RBI while
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