Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970

The appellants, members of Scheduled Castes and Scheduled Tribes employed in the clerical cadre of Punjab National Bank, were selected as Management Trainees on the condition of two years of training and subsequent confirmation based on a bank test and examination. While they were on training, the bank revised its pay …

Swapan Kumar Pani, an accountant of Canara Bank, was first exonerated in 1989 of charges of unauthorised removal of special bearer bonds. Later, after a CBI report, the bank’s Managing Director invoked Regulation 18 of the Canara Bank Officer Employees' (Discipline and Appeal) Regulations, 1976 to set aside the exonera…

UCO Bank (appellant) sought recovery of a large sum from Shree Sitaram Mills Ltd. and its successor National Textile Corporation Ltd. (NTC) after the mill was taken over and nationalised under the Textile Undertakings (Take‑over of Management) Act, 1983 and the Textile Undertakings (Nationalisation) Act, 1995. The bank…