Ramji Shukla vs M.D./Chairman Canara Bank

The High Court held that the plaintiff, an officer of Laxmi Commercial Bank, was not a 'manager' as defined under the Banking Regulation Act, thus the termination of his services did not require prior approval from the Reserve Bank of India under Section 35B(b). The Court reversed the lower appellate court's finding that the plaintiff was a manager at the time of termination, emphasizing that the definition of 'manager' in the Companies Act does not apply in this context. Consequently, the High Court allowed the second appeal and dismissed the plaintiff's suit.