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

Shanti Prasad Jain v. Director of Enforcement

AIR 1962 SC 1764 · Supreme Court of India

Foreign-exchange and banking controls can qualify the ordinary banker–customer relation without converting the bank into a trustee of every deposit.

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Related sections:

Banking Regulation Act, 1949, 5(b) — Meaning of banking (accepting deposits for lending or investment)
Negotiable Instruments Act, 1881, 5–6 — Bill of exchange and cheque
Constitution of India, 19(1)(g) — Occupation of banking as a trade subject to regulation