Court : Mumbai
Reported in : AIR1997Bom7; 1996(4)BomCR100; 91CompCas871(Bom)
..... it is subject to all rights and liabilities which any agreement may suffer. 6. by act no. 17 of 1993, the legislature has also added section 2(g)(iv) to include every order passed by the high court under section 394 of the companies act, 1956, in respect of amalgamation of companies. in our view, applying the ratio of the decision in the case of ruby sales ..... of amalgamation of companies; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or ..... of the petitioners. 3. for appreciating the contentions of the petitioners, it would be necessary to refer to section 2(g). section 2(g). section 2(g) reads as under : '(g) 'conveyance' includes, - (i) a conveyance on sale, (ii) every instrument, (iii) every decree or final order of any civil court, (iv) every order made by the high court under section 394 of the companies act, in respect ..... cannot be stated to be in any manner making direct inroads into the judicial function of this court or of the supreme court. it cannot be said that article 261(3) of the constitution, which provides that final judgments or orders delivered or passed by civil courts in any part of the territory of india shall be capable of execution anywhere .....Tag this Judgment!
Court : Mumbai
Reported in : (1988)ILLJ95Bom; 1987MhLJ676
..... of the petitioners to the case of parmeshwari prasad gupta v. the union of india : 1scr304 in which provisions of section of 286 and 290 of the indian companies act, 1956 fell for consideration. it is held that the resolution passed at an invalid meeting terminating the services of a general manager can be ..... and for which you were compelled to submit application for casual leave even though you have signed the attendance register.'3. both preferred appeals on 24th april 1985 under section 42b(1) of the nagpur university act, 1974. the tribunal held, (a) services could not be terminated before expiry of a period of 23 ..... this point of fact for the first time at the fag end of the case. in this connection useful reference may be made to section 230(3) of the contract act which deals with ratification of contract. the governing body has paid salaries and other emoluments to the lecturers and had all through treated ..... the state of orissa and another v. ram narayan das : (1961)iillj552cal (ii) dr. t. c. pillai v. indian institute of technology 1967 i llj 530 (iii) oil and natural gas commission and others v. dr. md. s. iskander ali : (1980)iillj155sc . we do not think that the ratio of any of the above ..... state within the meaning of article 12 of the constitution; 2) whether even if it is not a state, the writ would still lie, and 3) whether on the consideration of the question of ratification in view of new decision cited by either of the parties, the order of remuneration is valid. .....Tag this Judgment!
Court : Madhya Pradesh
Reported in : 1990(0)MPLJ121
..... of property, and to contract and to sue and be sued in its name. section 3(3) of the act provides that entire capital of each corresponding new bank shall stand vested in, and allotted to, the central government. section 617 of the companies act, 1956, defines a government company as any company in which not less than fifty one per cent of the paid up share ..... capital is held by the central government. thus the complainant bank is not only a corporation but also falls under the category of a government company. the decision of delhi high court ..... drew a distinction between the expression 'body corporate' used in section 3 ..... respective submissions of the parties, i am of the opinion that the central bank of india is a corporation established under a central act, viz. banking companies (acquisition and transfer of undertakings) act, 1970. under section 3(4) of this act, the new bank was declared a body corporate with perpetual succession and a common seal with power, subject to the provisions of .....Tag this Judgment!
Court : Orissa
Reported in : AIR1957Ori203
..... action should be brought.' in this case, j, a share holder, applied to have his name removed from the register of the company under section 33 of the indian companies act. r. a mortgagee of the uncalled capital of the shares came to court and opposed. it was held that r. was entitled ..... being vitally interested in the proceedings and might be seriously prejudiced by an order for rectification made behind his back and the jurisdiction under section 38 of the indian companies act is unlimited. this case, in my opinion, does not help opposite party no. i. in the course of the judgment, the ..... . the share scrip was already with the company, consequently, the objection contended for bv mr. choudhury under section 34, clause (3) of the companies act. 1913 that it shall not be lawful for the company to register a transfer of shares in or debentures of the company unless the proper instrument of transfer duly stamped ..... which it was held, 'the case of a purchaser of a share at a court auction does not fall under article 22 of table a and therefore the contention that a transfer in a court sale is a transmission of the shares to the purchaser and the discretion which vesta in the directors of a company ..... (3) clearly shows that it applies only to transfers by acts of parties and does not apply to sales by the court.' mr. choudhury relied on a decision in support of his contention in the case of balwant transport co., ltd.. amraoti v. y. h. deshpande, air 1956 nag 20 (k), in .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : 140ITR437(P& H)
..... that there was a balance-sheet filed along with the original return. moreover, the balance-sheet was prepared as on march 31, 1971, though the same was audited under section 619 of the companies act, 1956, on may 22, 1973, that is, after the completion of the assessment by the ito. this auditing could not affect the assessment proceedings taken earlier. it has been ..... not justified in the facts and circumstances of this case, in holding that the requirements ofsection 34(3)(a) of the act were duly satisfied so us to qualify the asscssce to claim development rebate of rs. 7,18,208 under section 33(1)(a) of the act. however, it may be made clear that out of the total amount claimed on account of ..... of the case, the tribunal has been right, in law, in holding that the requirements of section 34(3)(a) were duly satisfied so as to qualify the assessee to claim development rebate of rs. 7,18,208 under section 33(1)(a) of the income-tax act, 1961 ?' 2. the brief facts giving rise to this reference are these. the assessment year of ..... total development rebate of rs. 7,18,208 in respect of certain plant and machinery was claimed under section 33(1)(a) of the act. the ito found that the assessee had credited to the reserve account, as contemplated under section 34(3)(a) of the act, only an amount of rs. 1,85,638 instead of the requisite amount of rs. 5,38,656 .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1994SC1918; JT1994(2)SC215; 1994(2)SCALE37; (1994)3SCC1; 2SCR644
..... of judicial review in such matters. barium chemicals was concerned with an enquiry ordered into the affairs of the appellant-company by the company law board under section 237(b) of the companies act, 1956. section 237 read as follows :without prejudice to its powers under section 235, the central government(a) shall appoint one or more competent persons as inspectors to investigate the affairs of a ..... ltd. and anr. v. the co. law board and ors.  supp. 3 s.c.r. 311, the facts were that an order was issued on behalf of the company law board under section 237(b) of the companies act appointing four inspectors to investigate the affairs of the appellant-company on the ground that the board was of the opinion that there were circumstances ..... that the constitution does not provide for such a course - that it does not provide for its own demise. 93. consistent with the constitutional philosophy, sub-section (3) of section 123 the representation of peoples act, 1951 treats an appeal to the electorate to vote on the basis of the religion, race, caste or community of the candidate or the use of religious ..... prejudicially affect the election of the candidate of the rival political party.274. the contention of sri ram jethmalani that the interpretation and applicability of sub-sections (3) & (3a) of section 123 of r.p. act would confined to only cases in which individual candidate offends religion of rival candidate in the election contest and the ratio therein cannot be extended when a .....Tag this Judgment!
Court : Kerala
Reported in : AIR1979Ker113
..... the travancore companies act, 1114, is a company coming within the purview of the companies act, 1956. the question for consideration is whether it is entitled to apply to the government for acquisition of land for the purpose of shifting a kudikidappu that is on its land on the ground that it requires its land for constructing a building for its residence under section 75(3) of the ..... kerala land reforms act, 1963, (hereinafter mentioned as ..... an establishment and do business'. if we accept the argument advanced on behalf of the respondent, the result would be that an artificial person like a company can seek acquisition of land under section 75 (3) of the act, for shifting to that land a kudikidappu that is on its land with the object of constructing a building thereon, for the purpose of maintaining ..... own residence, that is to say, 'to keep house and do business'; and that if the other conditions mentioned in section 75 (3) of the act are satisfied, a company is entitled to invoke that provision, and to have an alternate land acquired by government and given possession to it (the company) in the manner and in accordance with the provisions governing the same, sub .....Tag this Judgment!
Court : Rajasthan
Reported in : 2000(116)ELT32(Raj); 2000(1)WLC29; 1999(1)WLN377
..... registration certificate shows that the petitioner's unit has been recognised as a manufacturer/processor of fabrics. the petitioner being a company duly registered under the companies act, 1956, is a distinct and separate juristic person by virtue of section 34 of the companies act, 1956. it has a legal personality of its own distinct and separate from its individual members and shareholders. hence the registration certificate ..... issued under section 3a of the act. the petitioner company also contends that whether it is covered by notification or not can only be determined ..... the central excises and salt act, 1944 (hereinafter called as the act) and therefore the excise duty, they are liable to pay, is under notification no. 36/98, dated 10-12-1998 issued in exercise of powers conferred by section 3a of the act. according to the petitioner company, it is not liable to pay duty under section 3 of the act being covered by a notification ..... the central excise department and therefore it is covered by notification no. 36/98, dated 10-12-1998 and is liable to pay duty only under section 3a of the act and not under section 3 of the act.4. in reply it is contended on behalf of the respondents that the petitioner could claim to be covered under notification no. 36/98 only .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 88CompCas596(AP)
..... by g.v.k. hotels limited (hereinafter referred to as 'the transferee company') under section 391 of the companies act, 1956 (for short, 'the act'), seeking a direction of convene the meeting of the shareholders of the applicant companies for considering the proposed scheme of arrangement for amalgamation of the two companies. the scheme inter alia contemplates transfer of business, assets and liabilities of the ..... capital which is lost or is otherwise unrepresented by available assets, it is not mandatory to follow the procedure prescribed in sub-section (3) of section 101 unless the court so directs..... (xxv) the essential requirement of section 393(1)(a) is that the creditors and members who are the assemble in the meeting should have advance information of the ..... while examining the scheme the court should, keeping in view all the aspects of the matter, prefer a living scheme to compulsory liquidation bringing about an end to a company. (iii) before the court accords its sanction to any scheme of compromise and arrangement, it would normally expect to be satisfied about three important matters, namely, (a) whether ..... if it is substantially complied with. (xiii) though fresh capital cannot be issued without the permission of the controller of capital issues under the capital issues (control) act, 1947, section 3, where a scheme envisages increase of capital the fact that permission for issue of fresh capital was not obtained from the controller of capital issues need not come in .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1989SC295; (1988)90BOMLR477; JT1988(3)SC716; 1988(2)SCALE804; (1988)4SCC747; Supp3SCR44; 1989(1)LC130(SC)
..... , 74% of the equity share capital of the esso standard refining company of india limited, which therefore became a government company as defined by section 617 of the companies act, 1956.10. on 12th july, 1974 the company law board, in exercise of the powers conferred by sub-sections (1) and (2) of section 396 of the companies act, 1956, read with the notification of the government of india in the department ..... of company affairs no. gsr 443(e) dated 18th october, 1972, made lube ..... india limited a esso standard refining company of india limited (amalgamation) order, 1974. clause (3 .....Tag this Judgment!