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Supreme Court of India

Pandurang Ganpati Chaugule v. Vishwasrao Patil Murgud Sahakari Bank Limited

Neutral citation
Reported as [2020] 5 S.C.R. 1038
Bench Arun Mishra, Indira Banerjee, Vineet Saran, M. R. Shah and Aniruddha Bose JJ.
Decided 5 May 2020

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

In view of the aforesaid discussion, we are of the opinion that recovery of dues would be an essential function of any banking institution and the Parliament can enact a law under Entry 45 of List I as the activity of banking done by co-operative banks is within the purview of Entry 45 of List I. Obviously, it is open to the Parliament to provide the remedy for recovery under Section 13 of the SARF AESI Act.

Judgment, page 70

From the headnote

Constitution of India – Seventh Schedule – List I, Entry 45; List II, Entry 32 – Power of the Parliament to legislate – Applicability of SARFAESI Act, 2002 to co-operative banks – Held: Co-operative banks r egistered under the S tate legislation and multi-S tate level co-operative societies r egistered under MSCS Act w .r.t ‘banking’ are governed by the legislation r elatable to Entr y 45, List I, Seventh Schedule – Co-operative banks run by co-operative societies register ed under the S tate legislation w .r.t the aspects of ‘incorporation, r egulation and winding up’, in par ticular, w.r.t

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