KARNATAKA BANK LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) The first and second petitioners are banking companies in the Private sector governed by the provisions of the Banking (Regulation) Act, 1949. Petitioners 3 and 4 and petitioners 5 and 6 are employees of petitioners 1 and 2 respectively.

(2.) The banking activity carried on by petitioners 1 and 2 is the same as carried on by Nationalised Banks. There is no difference in this regard.

(3.) It is the case of the petitioners that the Employees Provident Funds and Miscellaneous Provisions Act, 1952 (hereinafter referred to as 'the Act' for brevity) was made applicable to Banks carrying on its business in any State or territory and having no operation or branch outside that State. By a notification dated March 9, 2000, the provisions of the Act have been made applicable to all non-Nationalised Banks in India. In view of this petitioners 1 and 2 are now required to cover their eligible employees under the provisions of the Act. And by this, there would be three categories of employees in the petitioner Banks, namely.