PUNJAB & SIND BANK vs ALLAHABAD BANK .

The Supreme Court upheld the decisions of the Calcutta High Court regarding the procedural requirements for filing a suit involving public sector banks, clarifying that the modalities outlined in the ONGC-I case do not extinguish the right to sue. The Court emphasized that the intention behind the ONGC-I ruling was to avoid litigation among government entities, not to eliminate statutory remedies. The appeal was dismissed, affirming the lower courts' findings that the suit was valid despite the procedural objections raised by the appellant-Bank.