Landmark case · Law of Banking and Negotiable Instruments · Semester 5

Joseph Kuruvilla Vellukunnel v. Reserve Bank of India

AIR 1962 SC 1371 · Supreme Court of India

Section 38 of the Banking Regulation Act empowering RBI to apply for winding up of a banking company was upheld as a reasonable special procedure.

From topic

Reserve Bank of India Act, 1934 — Unit I, Law of Banking and Negotiable Instruments.

Related sections:

Reserve Bank of India Act, 1934, 3 — Establishment and incorporation of Reserve Bank
Reserve Bank of India Act, 1934, 22 — Right to issue bank notes
Reserve Bank of India Act, 1934, 45JA — Power of Bank to determine policy and issue directions (NBFCs)
Reserve Bank of India Act, 1934, 58B — Penalties