Supreme Court · 1996 INSC 101 · Decided 19 January 1996
Reserve Bank of India and ORS. v. Peerless General Finance and Investment Company LTD. and ANR.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 101 · [1996] 1 S.C.R. 58
- Case number
- CIVIL APPEAL No. 37/1996
- Decided
- 19 January 1996
- Bench
- S.C. AGRAWAL, G.B. PATTANAIK (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution
Headnote
Reserve Bank of India Act, 1934-Sectwn 45;K (3)-Pnwer of Reserve Bank to issue directions-Scope of-The Section confers a wide power 011 the Bank to issue directions and the said power is not restricted to or limited to the receipt of deposits only-The Section is an ·eiiabling so construed as to subserve the purpose for which it has been enacted. Residuary Non-Banking Companies (Reserve Bank) Directions I987-Para 4A (as inserted by Notification dated I9.4.I993)-Enacted to prevent evasion of directions contained in Paras 6 & 12 o_f 1987 DireLtions­ Held,
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)