Ganesh Bank, Kurundwad Ltd. And Ors vs The Union Of India And Ors

The Supreme Court upheld the validity of the moratorium imposed by the Reserve Bank of India (RBI) under Section 45 of the Banking Regulation Act, 1949, affirming that the RBI acted within its jurisdiction to protect depositors' interests. The Court found no mala fide intention in the RBI's actions, including the appointment of directors and the proposed amalgamation with Federal Bank. The appeal against the Bombay High Court's order was dismissed, maintaining the status quo regarding the moratorium and amalgamation.