2021 (9) TMI 561

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....i Milind Sharma, counsel for the petitioner. Shri J.K. Jain, learned Assistant Solicitor General for respondent Nos.1 to 4/Union of India on advance notice. Shri Pushpendra Yadav, learned Additional Advocate General for respondent Nos.5 & 6/State on advance notice. The contention of learned counsel for the petitioner is that the service conditions of the Managing Director and/or the Chief Execu....

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....the State and does not lie within the domain of the Union, much less the Reserved Bank of India. The learned counsel argued that the Banking Regulation Act, 1949 was amended by the Amendment Act of 1965 w.e.f 01.03.1966, whereby in view of this conflict, Sections 10, 10A, 10B, 10BB, 10C, 10D and 35B were purposely omitted. However, the Parliament by Constitution (97th Amendment) 2011 while inserti....