Skip to content

Filter by :

Search Results Judgments > Act:COMPANIES ACT, 1956 Preamble 1 Year:1967

Feb 27 1967

I.C. Golak Nath and Ors. Vs. State of Punjab and Anr.

  • Decided on : 27-Feb-1967

Court : Supreme Court of India

Reported in : AIR1967SC1643; 1967(0)BLJR818; [1967]2SCR762

... , at least in so far as 'estates' as defined by Art. 31-A. This is the culmination of a process. 236. Previous to the Constitution (Seventeenth Amendment) Act the Constitution (Seventh Amendment) Act, 1956 had given power indirectly by altering entry No. 42 in List III. The entries may be read side by side : '42. (Before Amendment) (After Amendment)Principles on ... -B and the Ninth Schedule. The original thirty-first article read : '31. Compulsory acquisition of property. (1) No person shall be deprived of his property save by authority of law. (2) No property, movable or immovable, including any interest in, or in any company owning, any commercial or industrial undertaking, shall be taken possession of or acquired for public purposes ... to the individual and of Government to both and the rights of the minorities and the backward classes are clearly laid down. This social document is headed by a Preamble (PREAMBLE -WF, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN DEMOCRATIC REPUBLIC and to secure all its citizens; JUSTICE, social, economical and political; LIBERTY of ... [approved by Sankari Prasad's case : [1952]1SCR89 ], was found so attractive that many more Acts were sought to be included but were dropped on second thoughts. Even so, one wonders how the Railway Companies (Emergency Provisions) Act, 1951, The West Bengal Land Development and Planning Act and some others could have been thought of in this connection. By this device, which ...

Mar 21 1967

Shahdara (Delhi) Saharanpur Light Railway Co. Ltd. Vs. The Municipal B ...

  • Decided on : 21-Mar-1967

Court : Supreme Court of India

Reported in : AIR1967SC1747; [1967]3SCR243

... Act. 15. The Indian Tramways Act, 1902 (Act IV of 1902) was one to apply the provisions of the Indian Railway Companies Act, 1895, to certain tramway companies. The preamble to this Act IV of 1902, stated that it was expedient to apply the provisions of the Indian Railway Companies Act, 1895, to companies formed for the construction of tramways 'not differing in structure and working from light railways'. This preamble ... Act, except s. 135, have been extended to the appellant company. 14. The next enactment to be referred to is the Indian Railway Companies Act, 1895 (Act X of 1895), which provided for the payment, by railway companies, registered under the Indian Companies Act, 1882, of interest out of capital during construction. Section 2(1) defines ... of India Act, 1935, and the Constitution. The provisions of the Indian Railway Companies Act, 1895, have also been applied to the tramways constructed, under the Tramways Acts, by the Indian Tramway Act of 1902. The second preamble to the last mentioned Act, clearly shows that the tramways, to which the Indian Railway Companies Act was made ... company paying interest on its paid-up share capital, out of capital, for the period, and subject to the conditions and restrictions contained in that section. There are other consequential provisions, in this Act. 15. The Indian Tramways Act, 1902 (Act IV of 1902) was one to apply the provisions of the Indian Railway Companies Act, 1895, to certain tramway companies. The preamble to this Act ...

Nov 23 1967

A. Sanjeevi Naidu and Ors. Vs. The Madras State Transport undertaking ...

  • Decided on : 23-Nov-1967

Court : Chennai

Reported in : (1970)1MLJ300

... Sections 68-A, 68-G, 68-D and 68-E of the Motor Vehicles Act, (ii) Section 68 (i) of the Act (iii) Rule 294-C and Rule 294-E of the Rules framed under the Act and (iv) the preamble to the scheme in form I, under Rule 294-C, which was actually promulgated ... independent authority, in the shape of a corporation, has been established by the State Government under Section 3 of the Road Transport Corporation Act, 1950. There is no company or corporation also operating these services which can be said to be controlled or owned by the State Government. The Transport Department of the ... , and refers to Vine v. National Dock Labour Board L.R (1957) A.C. 488 : (1957) 2 W.L.R. 106 : (1956) 3 All E.R. 939, for an act beyond the scope of the delegation. The author points out that procedural ultra vires under the several categories relating thereto,applies, in ... defined in the sub-section, with a corresponding divestiture of the Governor of any responsibility in the matter, whereas under Section 49, Sub-section (1), of the Act of 1935 the Governor remains responsible for the action of his subordinates taken in his name.50. This decision is clear authority for the ... form its opinion according to the rules governing its constitution. If it is a company, its decision or opinion is formed according to the articles of the company. A Road Transport Corporation established under sections of the Road Transport Corporation Act, 1950, is a body corporate having perpetual succession and a common seal. It ...

Apr 06 1967

Standard Literature Co. Private Ltd. and Ors. Vs. Union of India (UOI) ...

  • Decided on : 06-Apr-1967

Court : Kolkata

Reported in : AIR1968Cal1,71CWN719

... The petitioner No. 1. Standard Literature Company Private Ltd. (hereinafter referred to as the 'company') is a company incorporated under the Indian Companies Act and the petitioners Nos. 2 and 3 are directors and shareholders thereof. Prior to September 19, 1963 and commencing from the year 1916, this Company was a tenant in ... 1955 S. C. 13, : [1954]26ITR713(SC) , : [1956]29ITR390(SC) and 64 Cal WN 1 :(AIR 1960 Cal 1691 (SB). 24. But where there is any guide line in the Act. which may be gathered from the objects and reasons or the preamble or the body of the Act, by which the classification ... company') is a company incorporated under the Indian Companies Act and the petitioners Nos. 2 and 3 are directors and shareholders thereof. Prior to September 19, 1963 and commencing from the year 1916, this Company was a tenant in respect of room nos. 22, 24, 27, 28 in the ground floor and Nos. 46. 62. 66, 57, 58, 60, 64, 65, 66, 66/1 ... of the Act are discriminatory and violative of Article 14 fails The result is that all the three objections taken against the vires of the Act fail In this particular case, a special point is taken that the appellant is a company incorporated under the Indian Companies Act and as ... lands The proviso to Section 1 of the West Bengal Premises Tenancy Act, 1956 states that the 1956 Act does not apply to any premises belonging to Government. Therefore, where the tenancy of a person has been properly determined under the Transfer of Propertv Act, then in the case of ...

Mar 27 1967

Baltimore & Ohio R. Co. v. United States

  • Decided on : 27-Mar-1967

Court : US Supreme Court

... 's a stock speculation venture, instead of a railroad business" said one director. Time, January 30, 1956, p. 76. Is the new Penn-Central Company also to be milked by predatory finance? Alternatively, if a regime as big and as ... 1, 19. The Commission's piecemeal, hands-off approach to the merger problem is, however, not commanded by the Transportation Act of 1940. There is no evidence that Congress intended to remove entirely the planning and policy function of the Commission with respect to rail consolidations. Indeed, such a position ignores the mandate of the preamble to the Act ... 1, 2, 3, 4, and 5, an agreement pertaining to the interests of E-L, D & H and/or B & M may be hereinafter entered by the merged company and the protected carriers, or any of them, which shall supersede the protection provided by such sections to the extent the agreement does not violate the provisions of the Interstate Commerce Act ... Company (D & H) and the Boston and Maine Corporation (B & M), three smaller competing carriers designated as the "protected railroads" by the Commission. These protected railroads had filed under 5(2)(d) of the Act applications for inclusion in both this merger and in Norfolk & W. Ry. Co. and New York, C. & St. L.R. Co. -- Merger, 324 I.C.C. 1 ... Commission permitting the merger of the Pennsylvania Railroad Company and the Page 386 U. S. 375 New York Central Railroad Company (Penn-Central) pursuant to 5(2) of the Interstate Commerce Act, as amended, 41 Stat. 481, 49 U.S.C. ...

May 02 1967

Commissioner of Income-tax, Hyderabad Vs. Motors and General Stores (P ...

  • Decided on : 02-May-1967

Court : Supreme Court of India

Reported in : [1967]66ITR692(SC); [1967]3SCR876

... etc., for a consideration of Rs. 1,20,000/-. Mr. Narasaraju also referred to the preamble in which the resolution of the Board of Directors dated September 9, 1955 is quoted and also the resolution of the meeting of the general body of the assessee-company held on October 4, 1955, authorising the ... under section 66(2) of the Income-tax Act, 1922 on the following question of law : ' (1) Whether the transaction dated 21-2-1956 amounts to a sale within the purview of the second proviso to section 10(2) (vii) of the Indian Income-tax Act; alternatively, (2) Whether, the consideration for the ... the transaction of February 21, 1956 was a sale and whether the income-tax authorities were entitled to include the amount of Rs. 43,568/-as profits under section 10(2) (vii) of the Income-tax Act as representing the excess of the consideration realised by the assessee-company over the written down ... 1956-57, the assessee-company submitted a return of income showing a sum of Rs. 9,823/-as profits derived from the transaction. The Income-tax Officer found that the value realised exceeded the written down value by Rs. 43,568/- and accordingly computed the profits under section 10(2)(vii) of the Income-tax Act ... meeting of the general body of the assessee-company held on October 4, 1955, authorising the Managing Director to negotiate 'for the sale of the entire concern known by the name of Sree Rama Talkies'. But, in our opinion, neither the recital in the preamble nor the resolution of the Board of ...

Apr 10 1967

Devi Das Gopal Krishnan and Ors. Vs. State of Punjab and Ors.

  • Decided on : 10-Apr-1967

Court : Supreme Court of India

Reported in : AIR1967SC1895; [1967]3SCR557; [1967]20STC430(SC)

... second period from November 1, 1958 to March 31, 1960. It is, therefore, necessary to notice the relevant provisions governing the said two periods. 49. The relevant part of section 15 of the Central Sales Tax Act, 1956 (74 of 1956), as amended by Central Sales Tax (Amendment) Act 16 of 1957, reads thus ... for three reasons, namely, (1) the decision of this Court in Calcutta Corporation v. Liberty Cinema : [1965]2SCR477 should be confined only to the provisions of the Calcutta Municipal Act wherein this Court found a guidance; (2) the provisions of the Sales Tax Act, including the preamble, do not disclose any ... Act in respect of the total income of the previous year of every individual, Hindu undivided family, company and local authority, and every firm and other association of persons or the partners of the firm or the members of the association individually.' 27. Section 2 of the Finance (No. 2) Act, 1957, read : ' (1 ... Act is in conflict with section 15 of the Central Sales Act, 1956, inasmuch as to enables the levy of sales-tax at more than one stage. In these and connected appeals we are concerned only with two periods - the first period upto October 31, 1958 and the second period from November 1 ... the tax under the Act is a purchase tax and not an excise duty. 45. Then it is contended that while section 15 of the Central Sales Tax Act, 1956 (Act 74 of 1956) imposes a restriction on the State not to tax at more than one stage, the amending Act by introducing the definition ...

Jul 31 1967

N.E. Merchant and Anr. Vs. State

  • Decided on : 31-Jul-1967

Court : Mumbai

Reported in : AIR1968Bom283; (1967)69BOMLR758; ILR1967Bom1392

... part of a chartered accountant. The company Law requires that the accounts of a company should be audited by auditors. Section 226 of the Companies Act 1956 lays down the qualifications and the disqualifications of auditors. Under that section, an auditor will not be qualified unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949. Section 227 then prescribes ... operation which will reduce what is essentially a profession to a commercial venture.(11) Mr. Rane for the State invited our attention to the preamble of the Act. The Bombay Shops and Establishments Act, 1948, is an Act to consolidate and amend the law relating to the regulation of conditions of work and employment in shops, commercial establishments residential hotels, restaurants, ... The word 'profession' has not been defined, but the sense of the word has been brought out by Scrutton L. J. in Commissioners of Inland Revenue v. Maxse, (1919) 1 KB 647. It was observed in that case at page 657:'.................. it seems to me as at present advised that a 'profession' in the present use of language ... company should be audited by auditors. Section 226 of the Companies Act 1956 lays down the qualifications and the disqualifications of auditors. Under that section, an auditor will not be qualified unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949. Section 227 then prescribes the powers and the duties of the auditors. Every auditor of a company ...

Sep 29 1967

Jay Engineering Works Ltd. and Ors. Vs. State of West Bengal and Ors.

  • Decided on : 29-Sep-1967

Court : Kolkata

Reported in : AIR1968Cal407,72CWN440

... company or a firm is the petitioner. He takes the objection that a company is not entitled to take advantage of Article 19 or 21. So far as a company is concerned it has been clearly laid down by the Supreme Court, in State Trading Corporation of India Ltd. v. Commercial Tax Officer, AIR 1963 SC 1811 that a company registered under the Indian Companies Act, 1956 ... R. Das. C J. In : [1959]35ITR190(SC) . is:'to secure to all persons, citizens or non-citizens the equality of status and of opportunity referred to in the glorious preamble of our Constitution. It combines the English doctrine of the rule of law and the equal protection clause of the 14th Amendment to the American Federal Constitution which enjoins that ... . In this case the petitioner No. 1 is the Jay Engineering Works Ltd., a company incorporated under the Indian Companies Act. Besides the company, there are six other petitioners who are in the managerial and supervisory staff of the company. So far as the fundamental rights guaranteed by Article 19 of the Constitution, the petitioner No. 1 which is a company cannot claim any relief on the ground ... that a company registered under the Indian Companies Act, 1956 was not a citizen within the meaning of Article 19 of the Constitution and cannot ask for the enforcement of a fundamental right granted to citizens under Article 19. In the Tata Engineering and Locomotive Co. v. State of Bihar : [1964]6SCR885 it was held that Article 18 did not apply to companies and corporations ...

Jul 31 1967

Merchant (N.E.) Vs. Bombay Municipal Corporation

  • Decided on : 31-Jul-1967

Court : Mumbai

Reported in : (1968)ILLJ187Bom; 1967MhLJ1008

... part of a chartered accountant. The Company Law requires that the accounts of a company should be audited by auditors. Section 226 of the Companies Act, 1956, lays down the qualifications and the disqualifications of auditors. Under that section, an auditor will not be qualified unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949. Section 227 then prescribes ... operation which will reduce what is essentially a profession to a commercial venture. 21. Sri Rane for the State invited our attention to the preamble of the Act. The Bombay Shops and Establishments Act, 1948, is an Act to consolidate and amend the law relating to the regulation of conditions of work and employment in shops, commercial establishments, residential hotels, restaurants, eating ... . The word 'profession' has not been defined, but the sense of the word has been brought out by Scrutton, L.J., in Commissioners of Inland Revenue v. Maxse [(1919) 1 K.B. 647]. It was observed in that case (p. 657) : '. . . it seems to me as at present advised that a 'profession' in the present use of language ... company should be audited by auditors. Section 226 of the Companies Act, 1956, lays down the qualifications and the disqualifications of auditors. Under that section, an auditor will not be qualified unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949. Section 227 then prescribes the power and the duties of the auditors. Every auditor of a company ...

Get Latest cases on this phrase via RSS

RSS feed
Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //