Uco Bank vs Saumyendra Roy Choudhury & Ors

The Supreme Court upheld the interim order of the High Court, which deemed the respondent as having been elected as a shareholder director despite being over the age limit and having served two terms. The Court clarified that the RBI Guidelines dated 1st November 2007, framed under Section 9(3AA) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, govern the election of directors and emphasize the importance of assessing a candidate's fit and proper status based on various criteria. The Court refrained from delving into the merits of the case, focusing instead on the applicability of the RBI Guidelines.