Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980

The Central Government Industrial Tribunal awarded a customary bonus to State Bank of India employees, which the bank’s management challenged. While the award was pending, Parliament enacted the Banking Laws (Amendment) Act, 1984, inserting provisions in the State Bank Act and related statutes that prohibited any bonus…

The New Bank of India, a loss‑making nationalised bank, was merged with Punjab National Bank under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. The Central Government, in consultation with the Reserve Bank of India, framed a Placement Scheme to determine the inter‑se seniority of the tran…

Andhra Bank, a "corresponding new bank" under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, issued a circular under Regulation 17(1) of its Officers' Service Regulations to promote certain Regional Managers to Assistant General Manager. Two officers (Respondents 1 and 2) challenged the cir…

The Supreme Court examined the validity of Punjab National Bank’s (PNB) transfer of surplus officers and staff of the merged New Bank of India (NBI) before a Central Government placement scheme was issued. The petitioners argued that such transfers violated paragraphs 5(2) and 5(4) of the Amalgamation Scheme, were arbi…

Andhra Bank, a "new bank" under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, had a scheme (Regulation 26) that treated travel between an officer's residence and office as official, allowing reimbursement. In 1990 the Central Government issued a circular stating such travel should not be c…