Supreme Court of India
Small Industries Development Bank of India v. M/s. Sibco Investment Pvt. Ltd.
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
Resultantly an obligation has been imposed on the transferee of the promissory notes, to be deemed to be a ‘Holder in due course’, that the notes should have been acquired in good faith; after exercising reasonable care and caution ab out the holder’s title.
Judgment, page 33
From the headnote
Reserve Bank of India, 1934: Supervisory powers of RBI – Held: RBI has wide supervisory powers over financial institutions – For ‘public interest’ the RBI is empowered to issue any di rective to any banking institution, and monitor the conduct of ever y NBFC – Banking Regulation Act, 1949 – s.35A. Reserve Bank of India, 1934: s.45K – Authority of R BI to issue directions for ensuring effective implementation of its orders – Held: Any direction by the RBI, is compelling and enforceable similarly like the provisions of the RBI Act by its very nature – For ensuring effective implementation of
Authorities it was built on
- 1992 Peerless General Finance and Investment Co. Ltd. and Anr v. Reserve Bank of India
- 2004 Clariant International Ltd. and Anr. v. Securities and Exchange Board of India
- 2020 Internet and Mobile Association of India v. Reserve Bank of India
- 2010 Icici Bank Limited v. Official Liquidator of Aps Star Industries Ltd. and Ors.
- 2012 Bihar Public Service Commission v. Saiyed Hussain Abbas Rizwi & Anr.
- 2006 Ganesh Bank Kurundwad Ltd. and Ors. v. The Union of India and Ors.
- 1990 U. Ponnappa Moothan Sons, Palghat v. Catholic Syrian Bank Ltd. and Others
- 2006 M/s. Bhagwati Prasad Pawan Kumar v. Union of India
- 1996 Reserve Bank of India and Ors. v. Peerless General Finance and Investment Company Ltd. and Anr.
Where later benches applied it
Of those, 1 referred to
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