S. N. Variava, J. - (1.) Leave granted.
(2.) Both these Appeals are being disposed of by this common judgment as they arise out of the Judgment of the Bombay High Court dated 19th December, 1996. In this judgment the parties are being referred to in their capacity in Civil Appeal No. 439 of 1997.
(3.) Briefly stated the facts are as follows : On 28th of August, 1993, the Appellants appear to have made an application to the Reserve Bank of India (hereinafter referred to as RBI) for a license to start an Apex Bank for Maharashtra and Goa. The RBI by its letter dated 25th April, 1994 inter alia stated as follows : "2. As you are aware, the proposed bank requires to be got registered under the Multi State Co-operative Societies Act, 1984 since its area of operation extends beyond the boundaries of a State and as such it would not be a co-operative Bank as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), at present. Hence an amendment to the Banking Regulation Act, 1949 is considered necessary. The Government of India has already been apprised of the amendments needed in the context of establishment of National Co-operative Bank of India (NCBI) registered under the Multi-State Co-operative Societies Act, 1984 and other similar banks. 3. In view of the foregoing, you may please approach the Reserve Bank only after the needed legislative amendments are carried out by Government of India to bring the NCBI as also other Banks similar to those proposed by you within the definition of Co-operative Banks under the Banking Regulation Act, 1949 (as applicable to Co-operative Societies)." ;