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{{Short description|Indian politician and chartered accountant}} |
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{{Use Indian English|date=March 2023}} |
{{Use Indian English|date=March 2023}} |
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{{Use dmy dates|date=September 2024}} |
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| ⚫ | '''Rustom Cavasjee Cooper''' (18 August 1922 – 18 June 2013) was an Indian politician and chartered accountant.<ref>{{Cite web |author=Livelaw News Network |date=2013-06-21 |title=R C Cooper, Petitioner in Bank Nationalization case passes away |url=https://www.livelaw.in/r-c-cooper-petitioner-in-bank-nationalization-case-passes-away/ |access-date=2023-03-13 |website=www.livelaw.in |language=en}}</ref> He served as treasurer and general-secretary of [[Swatantra Party]].<ref name=":5">{{Cite news |title=Dr Rustom C. Cooper |newspaper=[[The Times]] |language=en |url=https://www.thetimes.co.uk/article/dr-rustom-c-cooper-ng6wsnkjs0w |access-date=2023-03-13 |issn=0140-0460}}</ref> Between 1963 – 1964, he also served as president of [[Institute of Chartered Accountants of India]].<ref name=":3">{{Cite web |title=ICAI - The Institute of Chartered Accountants of India |url=https://www.icai.org/ |access-date=2023-03-13 |website=ICAI |language=en}}</ref> |
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== Early life == |
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| ⚫ | '''Rustom Cavasjee Cooper''' (18 August 1922 – 18 June 2013) was an Indian politician and chartered accountant.<ref>{{Cite web | |
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R. C. Cooper got his early education from [[Sydenham College of Commerce and Economics]] and University School of Economics in [[Bombay]].<ref name=":4" /><ref name=":6" /> Later, he received his [[PhD]] from [[London School of Economics]].<ref name=":5" /> |
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On 19 December 1954, Cooper married Zarin Mehta. They both had two daughters.<ref>{{Cite book |url=http://archive.org/details/menofachievement0000unse_j2s8 |title=Men of achievement |location=Cambridge, Eng. |publisher= Melrose Press |year=1992 |isbn=978-0-948875-75-5 |pages=173 |language=en}}</ref><ref>{{Cite book |last=Satyajit |url=http://archive.org/details/in.ernet.dli.2015.176016 |title=Indian Whos Who 1980-81 |year=1981 |pages=44 |language=en}}</ref> |
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== Positions held == |
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* 1960-65 – Member, Research Programmes Committee in [[Ministry of Finance (India)|Ministry of Finance]].<ref name=":4">{{Cite book |last=Lal |first=Sham |url=http://archive.org/details/cftri.0143timesofindiadire0000sham |title=The Times Of India Directory And Yearbook |date=1973 |publisher=The Times Of India Press, Bombai |others=Servants of Knowledge |pages=749 |language=en}}</ref> |
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* 1960-71 – Senior Partner, ''Touche, Ross, Bailey & Smart.''<ref>{{Cite book |last=Kay |first=Ernest |url=http://archive.org/details/menofachievement0000unse_j2s8 |title=Men of achievement |location=Cambridge, Eng. |publisher= Melrose Press |year=1992 |isbn=978-0-948875-75-5 |pages=173 |language=en}}</ref> |
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* 1963-64 – President, [[Institute of Chartered Accountants of India]].<ref name=":3" /><ref name=":4" /> |
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* 1964-65 – Member, Central Direct Taxes Advising Committee.<ref name=":4" /> |
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* 1964-66 – chairman, [[Bennett, Coleman]].<ref name=":4" /> |
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* 1966 – Vice Chairman, [[Indian Merchants' Chamber]].<ref name=":6">{{Cite book |last=Nanporia |first=N. J. |url=http://archive.org/details/cftri.timesofindiadire0000njna |title=The Times of India Directory & Yearbook |publisher=The Times of India Press |others=Servants of Knowledge |year=1967 |pages=970 |language=en}}</ref> |
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* 1967 – President, [[Indian Merchants' Chamber]].<ref name=":4" /> |
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== ''Rustom Cavasjee Cooper vs Union of India'' == |
== ''Rustom Cavasjee Cooper vs Union of India'' == |
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On 19 July 1969, Acting President [[V. V. Giri]] gave assent to the ordinance prepared by [[Indira Gandhi]]'s government to nationalize fourteen banks, which held the deposits of more than fifty crores rupees. On 20 July 1969, Cooper who was one of the |
On 19 July 1969, Acting President [[V. V. Giri]] gave assent to the ordinance prepared by [[Indira Gandhi]]'s government to nationalize fourteen banks, which held the deposits of more than fifty crores rupees. On 20 July 1969, Cooper who was one of the shareholders in [[Central Bank of India]], [[Bank of Baroda]], [[Union Bank of India]] and [[Bank of India]] filed petition in [[Supreme Court of India]] challenging the ordinance and claiming violation of their rights under ''Article 14, Article 19'' and ''Article 31'' of [[Indian Constitution]].<ref name=":0">{{Cite book |last=Austin |first=Granville |url=https://books.google.com/books?id=r42bAAAAMAAJ |title=Working a Democratic Constitution: The Indian Experience |publisher=Oxford University Press |year=1999 |isbn=0195648889 |pages=215 |language=en}}</ref><ref name=":2">{{Cite web |date=10 February 1970 |title=Rustom Cavasjee Cooper vs Union Of India |url=https://indiankanoon.org/doc/513801/ |website=indiankanoon.org}}</ref><ref>{{Cite web |last=Kidwai |first=Rasheed |date=23 July 2019 |title=The Singaporean who took Indira Gandhi to court |url=https://www.orfonline.org/expert-speak/the-singaporean-who-took-indira-gandhi-to-court-53298/ |access-date=13 March 2023 |website=Observer Research Foundation}}</ref><ref>{{Cite web |last=Kidwai |first=Rasheed |date=2019-07-24 |title=When a Singaporean critic of Marxist socialism took Indira Gandhi to court |url=https://theprint.in/opinion/when-a-singaporean-critic-of-marxist-socialism-took-indira-gandhi-to-court/267244/ |access-date=2023-03-13 |website=ThePrint |language=en-US}}</ref> |
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On 21 July 1969, [[Indira Gandhi]]'s government brought ''Banking Companies (Acquisition and Transfer of Undertakings)'' ''Act'' on the floor of [[Parliament of India]].<ref>{{Cite web |last=Nagpal |first=Abhinav Kumar & Chetan |date=2020-06-17 |title=50 Years to Bank Nationalisation Case: Rustom Cavasjee Cooper v. Union of India |url=https://www.livelaw.in/columns/50-years-to-bank-nationalisation-case:-rustom-cavasjee-cooper-v.-union-of-india-(1970)-1-scc-248-158474 |url-status=live |archive-url=https://web.archive.org/web/20200617132526/https://www.livelaw.in/columns/50-years-to-bank-nationalisation-case:-rustom-cavasjee-cooper-v.-union-of-india-(1970)-1-scc-248-158474 |archive-date=17 June 2020 |access-date=2023-03-13 |website=www.livelaw.in |language=en}}</ref> On 22 July 1969, an eight-judge bench of [[Supreme Court of India|Supreme Court]] gave interim order restraining the government to remove banks chairmen and giving the direction to the banks under ''Banking Companies Act 1968,'' despite [[Attorney-General for India|Attorney-General]] [[Niren De]]'s argument that nationalization is a policy decision and not subject to court scrutiny''.''<ref name=":0" /> |
On 21 July 1969, [[Indira Gandhi]]'s government brought ''Banking Companies (Acquisition and Transfer of Undertakings)'' ''Act'' on the floor of [[Parliament of India]].<ref name=":1">{{Cite web |last=Nagpal |first=Abhinav Kumar & Chetan |date=2020-06-17 |title=50 Years to Bank Nationalisation Case: Rustom Cavasjee Cooper v. Union of India |url=https://www.livelaw.in/columns/50-years-to-bank-nationalisation-case:-rustom-cavasjee-cooper-v.-union-of-india-(1970)-1-scc-248-158474 |url-status=live |archive-url=https://web.archive.org/web/20200617132526/https://www.livelaw.in/columns/50-years-to-bank-nationalisation-case:-rustom-cavasjee-cooper-v.-union-of-india-(1970)-1-scc-248-158474 |archive-date=17 June 2020 |access-date=2023-03-13 |website=www.livelaw.in |language=en}}</ref><ref>{{Cite web |date=21 July 1969 |title=Ordinances under Provisions of Articles 123(2) (a) of the Constitution |url=https://eparlib.nic.in/handle/123456789/853153 |website=Lok Sabha Digital Library}}</ref> On 22 July 1969, an eight-judge bench of [[Supreme Court of India|Supreme Court]] gave interim order restraining the government to remove banks chairmen and giving the direction to the banks under ''Banking Companies Act 1968,'' despite [[Attorney-General for India|Attorney-General]] [[Niren De]]'s argument that nationalization is a policy decision and not subject to court scrutiny''.''<ref name=":0" /> On 4 August 1969, [[Parliament of India]] passed ''Banking Companies (Acquisition and Transfer of Undertakings)'' ''Act'' ''1969.''<ref name=":0" /><ref>{{Cite web |date=4 August 1969 |title=Banking Companies (Acquisition and Transfer of Undertakings) |url=https://eparlib.nic.in/handle/123456789/852943 |website=Lok Sabha Digital Library}}</ref> |
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On 10 February 1970, eleven-judge bench of [[Supreme Court of India|Supreme Court]] with a majority judgement of ten to one struck down the Act. ''Section 15(2)(e)'' of the Act was held unreasonable by the bench which prohibited these banks from carrying on banking business. But the court ruled that the said Act is not violative of ''Article 19(1)(f)'' as the State has the right to carry absolute monopoly, giving reference to ''Akadasi Padhan vs State Of Orissa'' judgement of 1962.<ref name=":1" /><ref name=":02">{{Cite book |last=Austin |first=Granville |url=https://books.google.com/books?id=r42bAAAAMAAJ |title=Working a Democratic Constitution: The Indian Experience |publisher=Oxford University Press |year=1999 |isbn=0195648889 |pages=216–217 |language=en}}</ref> Justice [[A. N. Ray]] was the lone dissenter in this eleven-judge bench. He held that the compensation fixed by legislature cannot be questioned in court.<ref name=":02" /> |
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In this case, Justice [[Jayantilal Chhotalal Shah]] presided over the bench. [[Chief Justice of India]] [[Mohammad Hidayatullah]] recused himself from the case as he gave the assent to the Act as an Acting President.<ref name=":02" /> R. C. Cooper was represented by lawyers [[Nanabhoy Palkhivala]], [[M. C. Chagla]], J. B. Dadachanji, etc. Government side was represented by [[Attorney-General for India|Attorney-General]] [[Niren De]], [[Solicitor General of India|Solicitor General]] Jagdish Swarup, [[M. C. Setalvad]], [[C. K. Daphtary]], etc. Intervenor for the government included [[Mohan Kumaramangalam]], [[V. K. Krishna Menon]], etc.<ref name=":2" /><ref name=":02" /><ref>{{Cite web |date=2019-06-03 |title=Take it to the bank |url=https://punemirror.com/news/india/take-it-to-the-bank/cid5105357.htm |access-date=2023-03-13 |website=punemirror.com |language=en}}</ref> |
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== References == |
== References == |
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{{Reflist}} |
{{Reflist}} |
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[[Category:1922 births]] |
[[Category:1922 births]] |
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[[Category:2013 deaths]] |
[[Category:2013 deaths]] |
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[[Category:Swatantra Party politicians]] |
[[Category:Swatantra Party politicians]] |
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[[Category:Singaporean people of Parsi descent]] |
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Latest revision as of 19:55, 29 September 2024
Rustom Cavasjee Cooper (18 August 1922 – 18 June 2013) was an Indian politician and chartered accountant.[1] He served as treasurer and general-secretary of Swatantra Party.[2] Between 1963 – 1964, he also served as president of Institute of Chartered Accountants of India.[3]
Early life
[edit]R. C. Cooper got his early education from Sydenham College of Commerce and Economics and University School of Economics in Bombay.[4][5] Later, he received his PhD from London School of Economics.[2]
On 19 December 1954, Cooper married Zarin Mehta. They both had two daughters.[6][7]
Positions held
[edit]- 1960-65 – Member, Research Programmes Committee in Ministry of Finance.[4]
- 1960-71 – Senior Partner, Touche, Ross, Bailey & Smart.[8]
- 1963-64 – President, Institute of Chartered Accountants of India.[3][4]
- 1964-65 – Member, Central Direct Taxes Advising Committee.[4]
- 1964-66 – chairman, Bennett, Coleman.[4]
- 1966 – Vice Chairman, Indian Merchants' Chamber.[5]
- 1967 – President, Indian Merchants' Chamber.[4]
Rustom Cavasjee Cooper vs Union of India
[edit]On 19 July 1969, Acting President V. V. Giri gave assent to the ordinance prepared by Indira Gandhi's government to nationalize fourteen banks, which held the deposits of more than fifty crores rupees. On 20 July 1969, Cooper who was one of the shareholders in Central Bank of India, Bank of Baroda, Union Bank of India and Bank of India filed petition in Supreme Court of India challenging the ordinance and claiming violation of their rights under Article 14, Article 19 and Article 31 of Indian Constitution.[9][10][11][12]
On 21 July 1969, Indira Gandhi's government brought Banking Companies (Acquisition and Transfer of Undertakings) Act on the floor of Parliament of India.[13][14] On 22 July 1969, an eight-judge bench of Supreme Court gave interim order restraining the government to remove banks chairmen and giving the direction to the banks under Banking Companies Act 1968, despite Attorney-General Niren De's argument that nationalization is a policy decision and not subject to court scrutiny.[9] On 4 August 1969, Parliament of India passed Banking Companies (Acquisition and Transfer of Undertakings) Act 1969.[9][15]
On 10 February 1970, eleven-judge bench of Supreme Court with a majority judgement of ten to one struck down the Act. Section 15(2)(e) of the Act was held unreasonable by the bench which prohibited these banks from carrying on banking business. But the court ruled that the said Act is not violative of Article 19(1)(f) as the State has the right to carry absolute monopoly, giving reference to Akadasi Padhan vs State Of Orissa judgement of 1962.[13][16] Justice A. N. Ray was the lone dissenter in this eleven-judge bench. He held that the compensation fixed by legislature cannot be questioned in court.[16]
In this case, Justice Jayantilal Chhotalal Shah presided over the bench. Chief Justice of India Mohammad Hidayatullah recused himself from the case as he gave the assent to the Act as an Acting President.[16] R. C. Cooper was represented by lawyers Nanabhoy Palkhivala, M. C. Chagla, J. B. Dadachanji, etc. Government side was represented by Attorney-General Niren De, Solicitor General Jagdish Swarup, M. C. Setalvad, C. K. Daphtary, etc. Intervenor for the government included Mohan Kumaramangalam, V. K. Krishna Menon, etc.[10][16][17]
References
[edit]- ^ Livelaw News Network (21 June 2013). "R C Cooper, Petitioner in Bank Nationalization case passes away". www.livelaw.in. Retrieved 13 March 2023.
- ^ a b "Dr Rustom C. Cooper". The Times. ISSN 0140-0460. Retrieved 13 March 2023.
- ^ a b "ICAI - The Institute of Chartered Accountants of India". ICAI. Retrieved 13 March 2023.
- ^ a b c d e f Lal, Sham (1973). The Times Of India Directory And Yearbook. Servants of Knowledge. The Times Of India Press, Bombai. p. 749.
- ^ a b Nanporia, N. J. (1967). The Times of India Directory & Yearbook. Servants of Knowledge. The Times of India Press. p. 970.
- ^ Men of achievement. Cambridge, Eng.: Melrose Press. 1992. p. 173. ISBN 978-0-948875-75-5.
- ^ Satyajit (1981). Indian Whos Who 1980-81. p. 44.
- ^ Kay, Ernest (1992). Men of achievement. Cambridge, Eng.: Melrose Press. p. 173. ISBN 978-0-948875-75-5.
- ^ a b c Austin, Granville (1999). Working a Democratic Constitution: The Indian Experience. Oxford University Press. p. 215. ISBN 0195648889.
- ^ a b "Rustom Cavasjee Cooper vs Union Of India". indiankanoon.org. 10 February 1970.
- ^ Kidwai, Rasheed (23 July 2019). "The Singaporean who took Indira Gandhi to court". Observer Research Foundation. Retrieved 13 March 2023.
- ^ Kidwai, Rasheed (24 July 2019). "When a Singaporean critic of Marxist socialism took Indira Gandhi to court". ThePrint. Retrieved 13 March 2023.
- ^ a b Nagpal, Abhinav Kumar & Chetan (17 June 2020). "50 Years to Bank Nationalisation Case: Rustom Cavasjee Cooper v. Union of India". www.livelaw.in. Archived from the original on 17 June 2020. Retrieved 13 March 2023.
- ^ "Ordinances under Provisions of Articles 123(2) (a) of the Constitution". Lok Sabha Digital Library. 21 July 1969.
- ^ "Banking Companies (Acquisition and Transfer of Undertakings)". Lok Sabha Digital Library. 4 August 1969.
- ^ a b c d Austin, Granville (1999). Working a Democratic Constitution: The Indian Experience. Oxford University Press. pp. 216–217. ISBN 0195648889.
- ^ "Take it to the bank". punemirror.com. 3 June 2019. Retrieved 13 March 2023.