https://www.taxtmi.com/caselaws?id=280332 SC held that Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 empowered the Central Government to frame a placement scheme covering fitment and inter-se seniority of employees after amalgamation. Judicial review was limited to whether the scheme was arbitrary, irrational, perverse, mala fide, or based on extraneous considerations, and the Court would not substitute its own view. The 2:1 ratio in the placement clauses was upheld because it was supported by relevant material, including the transferor bank's weakness and manpower considerations. The scheme was not treated as retrospectively altering rights, and the scheme-making process was held to be legislative in nature. The challenge failed. en-us Wed, 13 Mar 1996 00:00:00 +0530 Wed, 01 May 2019 13:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280332 SC held that Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 empowered the Central Government to frame a placement scheme covering fitment and inter-se seniority of employees after amalgamation. Judicial review was limited to whether the scheme was arbitrary, irrational, perverse, mala fide, or based on extraneous considerations, and the Court would not substitute its own view. The 2:1 ratio in the placement clauses was upheld because it was supported by relevant material, including the transferor bank's weakness and manpower considerations. The scheme was not treated as retrospectively altering rights, and the scheme-making process was held to be legislative in nature. The challenge failed. Case-Laws Indian Laws Wed, 13 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280332