R. C. Cooper

R. C. Cooper got his early education from Sydenham College of Commerce and Economics and University School of Economics in Bombay. Later, he received his PhD from London School of Economics.

On 19 December 1954, Cooper married Zarin Mehta. They both had two daughters.{{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}}{{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}}

• 1960-65 – Member, Research Programmes Committee in Ministry of Finance.{{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}}
• 1960-71 – Senior Partner, Touche, Ross, Bailey & Smart.{{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}}
• 1963-64 – President, Institute of Chartered Accountants of India.
• 1964-65 – Member, Central Direct Taxes Advising Committee.
• 1964-66 – chairman, Bennett, Coleman.
• 1966 – Vice Chairman, Indian Merchants' Chamber.{{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}}
• 1967 – President, Indian Merchants' Chamber.

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.{{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}}{{Cite web |date=10 February 1970 |title=Rustom Cavasjee Cooper vs Union Of India |url=https://indiankanoon.org/doc/513801/ |website=indiankanoon.org}}{{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}}{{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}}

On 21 July 1969, Indira Gandhi's government brought Banking Companies (Acquisition and Transfer of Undertakings) Act on the floor of Parliament of India.{{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}}{{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}} 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. On 4 August 1969, Parliament of India passed Banking Companies (Acquisition and Transfer of Undertakings) Act 1969.{{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}}

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.{{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}} 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.

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. 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.{{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}}

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