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Supreme Court of India

Pandurang Ganpati Chaugule v. Vishwasrao Patil Murgud Sahakari Bank Limited

Neutral citation
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.

1 Supreme Court bench has cited this judgment.

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 SARFAESI 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 registered under the State legislation and multi-State level co-operative societies registered under MSCS Act w.r.t ‘banking’ are governed by the legislation relatable to Entry 45, List I, Seventh Schedule – Co-operative banks run by co-operative societies registered under the State legislation w.r.t the aspects of ‘incorporation, regulation and winding up’, in particular, w.r.t the matters outside the purview of Entry 45, List I, Seventh Schedule, are governed by the said legislation relatable to Entry 32, List II, Seventh Schedule…

Authorities it was built on

Where later benches applied it

Of those, 1 mentioned

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