By S A Ishaqui
Hyderabad,June 15: Justice Goda Raghuram of the AP High Court on Monday expressed surprise at banks acting like a real estate dealer by selling and buying lands.
The Judge was dealing with a petition filed by Thummala Chetty Builders and Developers Pvt. Ltd and others challenging the decision of the mandal revenue officer of Qutubullapur mandal in Ranga Reddy district, who recognised Mega City Cooperative Urban Bank Ltd as an occupier of 3.5 acres land in Qutuballapur.
The Judge said he would issue a notice to the RBI asking it to explain how such things are being allowed despite a Banking Regulation Act, which bars a banker from doing any business other than banking.
According to Mr M. Rama Rao, counsel for the bank, the bank purchased the land from some private individuals. However, some more individuals claimed ownership of that land and challenged the decision of the mandal revenue officer.
The petitioners’ counsel told the court that the bank was not functioning and was under liquidation. The Judge said it should not matter as the directors of the bank are alive and they should be prosecuted for the same.
The Judge called for additional facts and other relevant records and posted the matter to Tuesday for further hearing.
Notice to state to save farmers
The Andhra Pradesh High Court on Monday issued notices to the state and the Central governments seeking their replies on a petition challenging the inaction of the governments to rescue paddy farmers in the state.
A division bench comprising Chief Justice Anil R. Dave and Justice Ramesh Ranganathan was dealing with a petition filed by one Mr R. Chandrasekhar Reddy, an agriculturist from Timmapur village of Medak district, asking the court to direct the state government to ensure the implementation of the GO issued in October 2008, fixing Rs 930 as the minimum support price for paddy.
The court asked the respondents to file their counter affidavits within four weeks.
No comments:
Post a Comment