SHRI RAM NARAIN vs THE SIMLA BANKING & INDUSTRIAL CO.LIMITED.

The Supreme Court held that under Sections 45-A and 45-B of the Banking Companies Act, 1949, as amended in 1953, the execution of decrees against banks is exclusively within the jurisdiction of the Punjab High Court, overriding the provisions of the Displaced Persons (Debts Adjustment) Act, 1951. The Court clarified that the Tribunal under the Displaced Persons Act is considered a 'court' for the purposes of Section 45-C of the Banking Companies Act. The appeal was dismissed, affirming the High Court's jurisdiction over the execution proceedings.