LAWS(MAD)-2000-8-73

STATE BANK STAFF UNION Vs. UNION OF INDIA

Decided On August 14, 2000
STATE BANK STAFF UNION, MADRAS CIRCLE Appellant
V/S
UNION OF INDIA Respondents

JUDGEMENT

(1.) petitioner has questioned the constitutional validity of the banking laws amendment act, 1984 (central act 64 of 1984), by which the state bank of india act, 1955, state bank of india (subsidiary banks) act, 1970 and the banking companies (acquisition and transfer of undertakings) acts, 1970 and 1980, were amended.

(2.) by that amending act, a new section 43-a comprising of three sub-sections (1), (2) and (3) was introduced in the state bank of india act, 1955. That section reads as under:

(3.) in the state bank of india (subsidiary banks) act, 1959, a new section 50-a with the marginal heading bonus was introduced in identical language. Similar provisions numbered as section 12-a were introduced in the banking companies (acquisition and transfer of undertakings) acts of 1970 and 1980.