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Judgment Search Results Home  Phrase:companies act 1956 1956 section 445

Sep 30 2004

Textile Labour Association Vs. O.L. of Amruta Mills Ltd.

  • Decided on : 30-Sep-2004

Court : Gujarat

Reported in : [2005]126CompCas469(Guj); [2005]58SCL452(Guj)

... as the Company goes into liquidation, as per the Provisions contained in Section 445(3) of the Companies Act, 1956, that relationship has come to an end. Section 468 of the Companies Act, 1956 provides a summary procedure for enabling the liquidator to avoid expensive litigation in discharge of one of his primary duties, namely, collection of the assets of the Company. When the company is ... to occupy their respective Chawls once the company goes into liquidation. Since their occupation was based on the employer employee relationship and as soon as the Company goes into liquidation, as per the Provisions contained in Section 445(3) of the Companies Act, 1956, that relationship has come to an end. Section 468 of the Companies Act, 1956 provides a summary procedure for enabling the ... on the provisions contained in Section 445(3) of the Companies Act, 1956 which says that winding up order shall be deemed to be notice of discharge to the Officers and employees of the Company, except when the business of the Company is continued. He has further relied on the provisions contained in Section 477 of the Companies Act, 1956 which says that the Court may ... in Section 445(3), 446, 468, 477 and 630 of the Companies Act, 1956, the Court is of the view that the Court has ample power to issue directions for eviction of the occupants from the Chawls belonging to the company as retention of all these Chawls by them is amounting to illegally or unlawfully withholding the properties of the company ...

Jan 04 2005

Sushila Pulp and Papers Ltd. Vs. Official Liquidator and Ors.

  • Decided on : 04-Jan-2005

Court : Allahabad

Reported in : III(2005)BC168; [2005]124CompCas281(All); [2005]62SCL502(All)

... Section 445(3) of the Companies Act, 1956, all officers and directors ceased to act for and on behalf of the company. Further under Section 457(1)(a) of the Companies Act, 1956, only the official liquidator can initiate or take proceedings by or on behalf of companies under liquidation. Sections 445(3) and 457(1)(a) of the Companies Act, 1956, reads as under :'Section 445. ... Companies Act, 1956, only the official liquidator can initiate or take proceedings by or on behalf of companies under liquidation. Sections 445(3) and 457(1)(a) of the Companies Act, 1956, reads as under :'Section 445. Copy of winding up order to be filed with Registrar,-. . .(3) Such order shall be deemed to be notice of discharge to the officers and employees of the company, except when the business of the company ... Section 457(1)(a) of the Companies Act, 1956, only the official liquidator can initiate or take proceedings by or on behalf of companies under liquidation. Sections 445(3) and 457(1)(a) of the Companies Act, 1956, reads as under :'Section 445. Copy of winding up order to be filed with Registrar,-. . .(3) Such order shall be deemed to be notice of discharge to the officers and employees of the company ...

Jan 05 1965

Ram Hari De Vs. Official Liquidator, High Court

  • Decided on : 05-Jan-1965

Court : Kolkata

Reported in : AIR1965Cal552,69CWN317,(1965)IILLJ230Cal

... by operation of Section 445(3) of the Companies Act, 1956. The principle to be observed has been laid down in Tait's case, (1871) 16 Solicitors' Journal 46. In that case, the terms of engagement of an officer by a company was that pounds 5000 would be paid to him if the company would discontinue his ... operation of law. Section 445(3) of the Companies Act 1956 deals with the effect of the making of a winding-up order and runs as follows:'Such order shall be deemed to be a notice of discharge of the officers and employees of the company, except when the business of the company is continued.'3 ... of retrenchment as laid down in Section 2(oo), there must be the termination of services of workmen by the employer. It is nobody's case that the hank terminated the services of the appellants. They stood discharged by operation of Section 445(3) of the Companies Act, 1956. The principle to be ... Section 445(3) of the Companies Act, 1956 all this was altered and no option or choice remained with the bank. By operation of law, all workmen were deemed to have been dismissed. It was not the case of a voluntary closure of business or discharge of workmen by the employer as a result of any deliberate act ... by the Supreme Court, or a number of English decisions cited in the court below, which do not turn on the special provisions of Section 445(3) of the Companies Act, 1956. Mr. Sen has argued that the tripartite agreement contemplated a gradual and phased reduction in the staff until the business was ...

Oct 28 2013

Vishwanath Namdeo Patil and Others Vs. The Official Liquidator of M/s ...

  • Decided on : 28-Oct-2013

Court : Mumbai

... provision. The only section of the Companies Act, 1956 which provides for the discharge of an employee, which includes a workman, is section 445(3), and that too by a deeming fiction, as no actual order of discharge / termination has been passed. In respect of workmen, the only two provisions under the Companies Act, 1956, and Rules framed there-under are section 445(3) and Rule ... of the Industrial Disputes Act, 1947. (e) The services of a workmen cannot be discharged or terminated by implication but by a method known to industrial/ labour law, or by any specific statutory provision. The only section of the Companies Act, 1956 which provides for the discharge of an employee, which includes a workman, is section 445(3), and that too ... prior thereto, as per Section 445(3) of the Companies Act, 1956, which expressly provides that the winding up order shall be deemed to be the notice of discharge to the employees, except where the business is continued. Rule 154 of the Companies (Court) Rules, 1959 provides that the value of all debts and claims against the company shall, as far ... Companies Act, 1956, and Rules framed there-under are section 445(3) and Rule 154. (f) There is a difference between provisional winding up and final winding up. Though a Provisional Liquidator has wide powers, Provisional Liquidator ensures the protection of assets during the winding up process. Till the order of winding up the Company continues to exists and the Directors remain the Directors of the Company ...

Jan 19 2001

Shri Sheriyar D. Foujdar Vs. Maharashtra State Textile Corporation Lim ...

  • Decided on : 19-Jan-2001

Court : Mumbai

Reported in : 2001(2)ALLMR310; 2001(2)BomCR756; (2001)2BOMLR269; [2001(90)FLR397]; (2001)ILLJ1207Bom

... of the petitioner was formally terminated by the 2nd respondent Company, he continued to be an employee, as the vinculum juris was not snapped, we cannot lose sight of the fact that upon passing of the winding up order, the services of the petitioner stood terminated by reason of section 445(3) of the Companies Act, 1956. Thus, there is no escape from the conclusion ... the petitioner stood terminated by reason of section 445(3) of the Companies Act, 1956. Thus, there is no escape from the conclusion that the petitioner's service came to an end from February, 1986, or at any rate in March, 1986. Conversely, the petitioner was not an employee of the textile mills, nor of the 2nd respondent Company, as on the date of acquisition ... respondent Company stood terminated if such persons were not employed before the designated day by the 1st respondent Corporation under sub-section (1) or (2). According to her. the petitioner's case falls squarely within it. In her submission, the petitioner not having been appointed under sub-section (1) or (2) of Section 12 by the 'proprietor' i.e. the 2nd respondent Company, ... sub-section, services of all persons employed by the 2nd respondent Company stood terminated if such persons were not employed before the designated day by the 1st respondent Corporation under sub-section (1) or (2). According to her. the petitioner's case falls squarely within it. In her submission, the petitioner not having been appointed under sub-section (1) or (2) of Section ...

Jul 24 2002

In Re: Electronics Ltd. (In Liqn)

  • Decided on : 24-Jul-2002

Court : Delhi

Reported in : 2002(64)DRJ402

... Section 445(3) of the Companies Act, 1956 (hereinafter referred to as 'the Act') do not override the provisions of the I.D. Act since, had this been the intention, a non obstinate clause could easily have been employed in the said Section, which is a later enactment than the I.D. Act. Mr. Tiku has relied on Sections 25F, 25FFF, 25K, 25N and 25-O of the I.D. Act ... Act) or any other enactment or law. He has emphasised that Mr. Tiku's clients are regretfully protecting their interests even though they may substantially defeat the interests of the majority of workers.9. Mr. Tiku, learned counsel for the applicants has contended that the provisions of Section 445(3) of the Companies Act, 1956 (hereinafter referred to as 'the Act') ... Act, 1947 (hereinafter referred to as the I.D. Act) or any other enactment or law. He has emphasised that Mr. Tiku's clients are regretfully protecting their interests even though they may substantially defeat the interests of the majority of workers.9. Mr. Tiku, learned counsel for the applicants has contended that the provisions of Section 445(3) of the Companies Act, 1956 ... Section 445(3) of the Companies Act, upon the compulsory liquidation of a company, operates as an order of retrenchment. If it does, then the appellants would be entitled to amounts agreed upon between the parties under the so-called tripartite agreement. If not, they are not entitled to the same, although they may be entitled to payment under Section 25FFF of the Industrial Disputes Act ...

Mar 25 1996

M/s. Credit Capital Finance Corporation Vs. Foremost Industries Ltd.

  • Decided on : 25-Mar-1996

Court : Delhi

Reported in : AIR1996Delhi310; [1996]87CompCas251(Delhi)

... Section 20 of the Arbitration Act, the plaintiff filed an application under Order 40, Rule 1 of the same Act for appointment of a Receiver with respect to the leased equipment. On the said application, this court had appointed a Receiver to take possession of the leased equipment. In the meantime the present application has been filed under Sections 442 and 446 of the Companies Act, 1956 ... the Company has failed to deposit the amount by the specified date.4. In view of all these facts, the applicant is not correct in saying that a Provisional Liquidator stands appointed and, thereforee, permission of the Company Court under Section 446 of the Companies Act must be obtained before the present suit can be proceeded with. The conditions contained in Section 445 ... the meantime the present application has been filed under Sections 442 and 446 of the Companies Act, 1956 praying that proceedings pending in this court are liable to be stayed until the plaintiff seeks permission or leave of the Company Court which has allegedly passed the winding up order with respect to the defendant Company. The learned counsel for the plaintiff has ... Company Court under Section 446 of the Companies Act must be obtained before the present suit can be proceeded with. The conditions contained in Section 445 on the basis of which the said provision comes into operation are not satisfied in the facts of the present case. Neither it can be said that any winding up order has been passed qua the respondent company ...

Jul 07 1981

In Re: Britannia Engineering Company Ltd. (In liquidation)

  • Decided on : 07-Jul-1981

Court : Kolkata

Reported in : [1983]54CompCas277(Cal)

... contention of Mr. Bhalla cannot be accepted at all. Further, under Section 445(3) of the Companies Act, 1956, services of all officers and employees of the company are deemed to have been terminated by reason of winding-up. Therefore, Mr. Bhalla pn any account cannot be said to be an employee of the said company in liquidation.5. In the result the occupation of Mr. Bhalla ... in this application under Section 446(2)(a), (b) and (d) of the Companies Act, 1956, and the rights of the parties may be determined. Mr. R. Chowdhury argued that the winding-up proceeding is stayed under Section 18FA of the I (D & R) Act, 1951. He referred to Sub-section (10) and accord^ ing to Mr. Chowdhury, pursuant to the said Sub-section (10), during the management ... Companies Act, 1956, and the rights of the parties may be determined. Mr. R. Chowdhury argued that the winding-up proceeding is stayed under Section 18FA of the I (D & R) Act, 1951. He referred to Sub-section (10) and accord^ ing to Mr. Chowdhury, pursuant to the said Sub-section (10), during the management and control by the authorised controller under the said I (D & R) Act ... . Chowdhury caunot be accepted and the said flat, the monthly tenancy of which belonged to the company in liquidation, being Britannia Engineering Co. Ltd., now devolves on the official liquidator and is deemed to be in the custody of the court under Section 456(3) of the Companies Act, 1956, of which the official liquidator is the custodian. It is also admitted by S. C ...

Mar 18 2004

Canara Bank a nationalized bank constituted and functioning under the ...

  • Decided on : 18-Mar-2004

Court : Andhra Pradesh

Reported in : 2004(4)ALD738; [2004]55SCL686(AP)

... 164 of Companies (Court) Rules, 1959 (for short, the Rules).2. Mopeds India Ltd. (now in liquidation) was incorporated under the Companies Act, 1956 on 30-5-1962 as an automobile industry for manufacture of two wheelers. The company has 300 workmen under its control. On 29-9-1987, the company made a reference under Section 15(1) of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). ... order in accordance with sub-section (3) of Section 445 of the Act which lays down that winding up order filed with Registrar of Companies under sub-section (1) of Section 445 of the Act shall be notice of discharge to employees of the company. In view of this, prior to passing of winding up order, in law, there was no closure of the company by the erstwhile management. ... Companies Act, 1956, giving the workers the status of secured creditors?iii) Whether any part of any amount claimed by the workmen falls outside Sections 529 and 529A of the Companies Act, 1956?iv) Whether workmen are entitled for closure compensation @ 15 days salary for every completed year of service or only for 3 months in terms of provisions of Section 25FFF of the Industrial Disputes Act ...

Dec 10 1982

National Textile Workers' Union and Ors. Vs. P.R. Ramakrishnan and Ors ...

  • Decided on : 10-Dec-1982

Court : Supreme Court of India

Reported in : AIR1983SC75; [1983]53CompCas184(SC); (1983)1CompLJ1(SC); (1983)ILLJ45SC; (1983)IIMLJ1(SC); 1982(2)SCALE1144; (1983)1SCC228; [1983]1SCR922

... out below in extenso :1. That the Company Petition is not maintainable under the Companies Act, 1956, hereinafter referred to as the 'Act'.2. That no case has been made out by the petitioners under Section 433(f) of the Act.3. That, on the facts and circumstances of the case, it is not just and equitable that the company should be wound up.4. That another remedy ... company. A petition for winding-up the company has been presented by one group of shareholders. And an application for the appointment of a provisional liquidator too. Quite apart from Section 445(3) of the Companies Act which provides that the order for winding-up shall be deemed to be notice of discharge of the officers and employees of the company, except when the business of the company ... maintainable under the Companies Act, 1956, hereinafter referred to as the 'Act'.2. That no case has been made out by the petitioners under Section 433(f) of the Act.3. That, on the facts and circumstances of the case, it is not just and equitable that the company should be wound up.4. That another remedy is available to the petitioners and hence the Company cannot be ... the company and since the dispute could not be settled amicably, Respondent Nos. 1 to 5 filed a petition for winding up the Company on two grounds set out in Clauses (e) and (f) of Section 433 of the Companies Act, 1956. One ground was that the Company is unable to pay its debts and the other was that it is just and equitable that the Company should ...

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