Skip to content

Filter by :

Search Results Judgments > Act:COMPANIES ACT, 1956 Section 248

Apr 02 1954

All India Anglo Indian Association Vs. R.A. Massey

  • Decided on : 02-Apr-1954

Court : Punjab and Haryana

Reported in : AIR1956P& H210

... Companies Act provides a special manner for enquiry into, or trial of, offences under the Indian Companies Act, then those provisions would override the general provisions of the Criminal Procedure Code. The Indian Companies Act does not itself contain any such special procedure. Section 248, Sub-section (2), however, says this:'The Central Government may appoint such Registrars and Assistant Registrars as it thinks necessary for the registration of companies ... Companies Act, then those provisions would override the general provisions of the Criminal Procedure Code. The Indian Companies Act does not itself contain any such special procedure. Section 248, Sub-section (2), however, says this:'The Central Government may appoint such Registrars and Assistant Registrars as it thinks necessary for the registration of companies under this Act ... the accused, and it was that under the Companies Act a complaint of this type by a private individual was not competent, as under the regulations made by the appropriate Government under Section 248, Sub-section (2) Indian Companies Act the Registrar of Joint Stock Companies, or a person duly authorised by him, were ... because it appears that in Bengal no regulation under Section 248, Indian Companies Act, has been framed, in connection with such a matter.In ILR (1940) 1 Cal 575 :- (AIR 1940 Cal 232) (D) the argument rested on the language of Sections 137 and 141, Indian Companies Act, which sections, however, deal with an entirely different matter. ...

Apr 10 1952

The Public Prosecutor Vs. Ustepalle Swami Chetty and Ors.

  • Decided on : 10-Apr-1952

Court : Chennai

Reported in : AIR1953Mad196; (1952)2MLJ184

... the accused for offences under Sections 76 and 131, Companies Act.2. A complaint was laid against the respondents by the Assistant Registrar at the instance of the Registrar of Joint Stock Companies for the said offences. Under Section 248 (2), Companies Act 'The Central Government may appoint such registrars and assistant registrars as it thinks necessary for the registration of companies under this Act, and may make regulations with ... offence under the Companies Act there is no provision that any offence should not be taken cognizance of unless the complaint is filed by any of the persons mentioned in the Act. In the absence of such a provision the normal rule namely that any person may set the criminal law in motion will apply. But in cases under the Companies Act, it has ... any of the persons mentioned in the Act. In the absence of such a provision the normal rule namely that any person may set the criminal law in motion will apply. But in cases under the Companies Act, it has been considered desirable that either the Registrar or Joint Registrar or officer concerned in dealing with the Act should prefer the complaint. The ... do not take away the right of any citizen to file a complaint under the Companies Act. In the absence, therefore, of any special provision requiring that the complaint should be filed by a particular person, a complaint either by any citizen or a member of the company or by the Assistant Registrar will be a valid complaint. The complaint, therefore, filed ...

Jul 06 2012

Commissioner of Income Tax. Vs. Ms.NEPC India Limited

  • Decided on : 06-Jul-2012

Court : Chennai

... the profit and loss account prepared under sub section (2) of Section 115JA that for the purposes of assessment under section 115JA, every assessee being a company has to prepare its profit and loss account for the relevant assessment year in accordance with the provisions of Parts II and III of Schedule VI to the companies Act 1956.12. In considering the said provision, in ... Sections 246A to 248 of the Income Tax Act.6. During the course of scrutiny of the assessment under Section 143(2), the assessee requested the Assessing Officer to take cognizance of revised return of income filed for the purpose of arriving at the tax liability under Section 115JA and to arrive at the taxable income under the provisions of the Income Tax Act, excluding Section ... to Rs.1,890 lakhs. The assessee submitted that the same had been carried out in view of the objection raised by the Registrar of Companies, by invoking the provisions of Section 209A of the Companies Act, 1956. The Assessing Officer pointed out that during the course of assessment proceedings, the assessee was asked to produce the book of accounts based on which ... and loss account. It is stated that the said course was adopted by the assessee, consequent on the order passed by the Registrar of Companies, on an inspection conducted by him under Section 209A of the Companies Act, 1956 pointing out certain mistake committed, while preparing the original profit and loss account and balance sheet.4. It is further seen from the narration ...

Apr 17 1995

Sugarcane Growers and Sakthi Sugars Shareholders' Association Vs. Sakt ...

  • Decided on : 17-Apr-1995

Court : Chennai

Reported in : [1998]93CompCas646(Mad); (1995)IIMLJ469

... does not offend the provisions of the second proviso to section 394(1) of the Companies Act. 13. Before considering the merits of the contentions, it will be better to refer to the relevant provisions of law and the principles laid down in the judgments cited by both the sides. Section 391 of the Companies Act provides that the court may order a meeting of the ... both the sides. Section 391 of the Companies Act provides that the court may order a meeting of the creditors or members to be called, held and conducted in such manner as it directs, where a compromise or arrangement is proposed between a company and its creditors or between a company and its members and an application is filed by the company or creditor or member ... . Thereafter, C.P. Nos. 88 and 89 of 1994 were filed on June 14, 1994, respectively, by the respondent and the transferor-company under sections 391 and 394 of the Companies Act for sanctioning the scheme of amalgamation and dissolution of the transferor-company, without being wound up. 5. The benefits of amalgamation as set out in the petitions are as follows : '(i) The respondent ... of the official liquidator as regards the affairs of the transferor-company. According to him, such a report is a pre-condition under the second proviso to section 394(1) of the Companies Act. 12. Per contra, learned counsel for the respondent has submitted that the amalgamation is in the interest of both the companies and so long as it is fair and reasonable, the ...

May 04 1998

Bakhtawar Construction Co. (P.) Ltd. Vs. Blossom Breweries Ltd. and Or ...

  • Decided on : 04-May-1998

Court : Mumbai

Reported in : [1999]95CompCas28(Bom)

... Company Law Board was that the Company Law Board should direct investigation to be made in terms of the provisions of Section 248 of the Companies Act in relation to respondent No. 1-company. It appears that before filing Company Petition No. 36 of 1997, the appellant had filed Company Petition No. 65 of 1996, under Section 248 read with Section 250 of the Companies Act. However, that petition was dismissed by the Company ... Company Petition No. 36 of 1997 was filed by the appellant under Section 248 read with Section 250 of the Companies Act, and, therefore, in view of the filing of the subsequent petition, the earlier petition filed under Section 247 read with Section 250 of the Companies Act which was Company Petition No. 65 of 1996 was withdrawn. According to the appellant, an investigation under Section 248 in relation to respondent No. 1-company ... Company Law Board has rejected the appeal filed by the appellant because according to the Company Law Board, a direction under Section 248 of the Companies Act can be issued by the Company Law Board only if any other proceedings are pending before the Company Law Board. In the submission of learned counsel, the section has been misread by the Company Law Board. Learned counsel submitted that Section 248 of the Companies Act ...

Apr 17 1961

Satish Churan Law Vs. R. Goho, (Official Liquidator)

  • Decided on : 17-Apr-1961

Court : Kolkata

Reported in : AIR1962Cal23

... file. Rule 248 of the Companies (Court) Rules 1959, shows that the deposition taken under Section 477 of the Companies Act 1956 need not be kept on the file of the liquidation proceedings; the deposition 'is not open to inspection by any creditor, contributory or other persons, save upon orders of Court. Section 477 read with Rules 243 to 248 shows that a proceeding under Section 477 is a ... under Rule 11 of the Companies (Winding up) Rules of April 1892 which required that all depositions and other proceedings in a Winding up were to be kept and remain :on record in the office of the Registrar in one continuous file. Rule 248 of the Companies (Court) Rules 1959, shows that the deposition taken under Section 477 of the Companies Act 1956 need not be kept ... . The Court acts upon his statement, but the statement not being an affidavit need not be placed on the file of the liquidation proceedings. In Re London and Lancashire Paper Mills Co., (1888) 57 LJ Ch. 766, North, J. held that the deposition of the person summoned under Section 115 of the English Companies Act, 1862 corresponding to Section 477 of the Companies Act 1956 need not be ... respondent contends that no appeal lies from the order dated the 15th July 1960. Now an order or a decision in the winding up of a company in order to be appealable under Section 483 of the Companies Act, 1956 must amount to a judgment within the meaning of Clause 15 of the Letters Patent. On behalf of the respondent it was contended that having ...

May 06 1982

Sales Tax Officer, Central Circle, New Delhi Vs. Byford Ltd.

  • Decided on : 06-May-1982

Court : Delhi

Reported in : [1984]55CompCas204(Delhi); ILR1982Delhi181; [1984]145ITR537(Delhi); [1983]53STC357(Delhi)

... s. 391(6) of the Companies Act, 1956 (the Act), by the company, the court stayed proceedings against the company before the STO. The STO contests the validity of this order of the company judge. The question is whether the judge can restrain proceedings against the company before the STO. 2. These are the facts. The respondent Byford Limited (the company), is a dealer in Fiat ... sections in so far as proceedings under the two enactments - the I.T. Act and the Sales Tax Act - are concerned. 16. In Damji Valji Shah v. LIC of India : [1965]3SCR665 , it was held that the company court under s. 446(2) has no jurisdiction to entertain and adjudicate upon any matter which the Tribunal under s. 41 of the Life Insurance Corporation Act, 1956 ... Sales Tax Act will override the provisions of the Companies Act. It is subject to this that the recovery proceedings can be stayed by the company judge, as we have already said. 17. The Federal Court in Governor-General in Council v. Shiromani Sugar Mills Ltd. [1946] 16 Comp Case 71; 14 ITR 248 , held that the leave of the company court will ... Act, 1956, has exclusive jurisdiction to decide and to determine. It was further held that the Act of 1956 will override the provisions of the general Act, namely, the Companies Act, which is an Act relating to companies in general. Following that decision we hold that the STO has exclusive jurisdiction over the sales tax proceedings. Furthermore, the Sales Tax Act will override the provisions of the Companies Act ...

May 23 1995

Gulmohar Finance Ltd. Vs. In Re and others

  • Decided on : 23-May-1995

Court : Delhi

Reported in : [1998]93CompCas544(Delhi)

... 2. It is also claimed that there are no proceedings pending under sections 235 to 251 of the Companies Act, 1956, against either the transferor company or the transferee company. 3. Notice was issued to the official liquidator and the Central Government through the Regional Director of the Company Law Board, Northern Region, Kanpur and publication was also made in the 'Statesman' ... company'). It has also been claimed that the proposed scheme will result in economies of scale, reduction in administrative and procedural work, better and more productive utilisation of various resources and will enable the undertakings concerned to effect internal economies and optimize productivity and profitability. 2. It is also claimed that there are no proceedings pending under sections ... that the same shall be binding on all the shareholders and creditors of the transferee company and all the shareholders and creditors of the transferor companies and all the assets, liabilities and reserves of the transferor companies shall, vest in the transferee company. 13. The registry shall draw up a formal order in accordance with law. Copy of ... through the record. 10. As already referred to, the scheme of amalgamation of the transferor company with the transferee company has been approved by the shareholders and creditors of both the companies and both the official liquidator and the Regional Director, Northern Region, Company Law Board, both have not found any objection to the scheme of amalgamation being ...

Nov 14 1994

In Re: Mafatlal Industries Ltd.

  • Decided on : 14-Nov-1994

Court : Gujarat

Reported in : [1995]84CompCas230(Guj)

... is also borne out when the language of section 392 is contrasted with the language of section 186 of the Companies Act, 1956. Both the sections confer power on the court (section 156 prior to its amendment by the Act 41 of 1974) to convene meetings. Sub-section (1) of section 186 in terms refers to a 'meeting of a company'. Section 391 refers to a 'meeting of creditors or ... to be a decision in the interest of the company or its shareholders. It is, therefore, submitted that the proposed scheme which would result in dipping of the profits of MIL should not be sanctioned as it would not be in the interest of shareholders of MIL to amalgamate with MF. 248. Miheer has in his objection tried to ... company but the thrust of the two sets of sections clearly establishes a different legal identity of such meetings. This distinction is also borne out when the language of section 392 is contrasted with the language of section 186 of the Companies Act, 1956. Both the sections confer power on the court (section 156 prior to its amendment by the Act 41 of 1974) to convene meetings. Sub-section (1) of section ... Companies Act, 1956. Both the sections confer power on the court (section 156 prior to its amendment by the Act 41 of 1974) to convene meetings. Sub-section (1) of section 186 in terms refers to a 'meeting of a company'. Section 391 refers to a 'meeting of creditors or class of creditors or members of class of members'. There is a deliberate omission of the words 'of a company' in section ...

Jul 06 1979

Vasant Investment Corporation Ltd. Vs. Official Liquidator, Colaba Lan ...

  • Decided on : 06-Jul-1979

Court : Mumbai

Reported in : [1981]51CompCas20(Bom)

... has observed as follows : 'Section 391 envisages a compromise or arrangement being proposed for consideration by members and/or creditors of a company liable to be wound up under the Companies Act, 1956. Compromise or arrangement has to be between creditors and/or members of the company and the company, as the case may be. It was always open to the company to offer a compromise ... section, once the scheme is passed by the requisite majority, all the members become bound by it. In this connection, a reference may be made to In re Trix Ltd. reported in [1970] 3 All ER 397 , which makes a clear distinction between a stay of winding up under s. 245 of the English Companies Act (equivalent to s. 466 of the Companies Act, 1956 ... to the company. Originally, the company also had a textile mill which was sold some time before the commencement of the winding-up proceedings against the company. By an order made by this court on 7th October, 1969, the company was ordered to be wound up under the provisions of the Companies Act, 1956, and the official liquidator was appointed the liquidator of the company. In ... company consisted of dealings in a large number of immovable properties belonging to the company. Originally, the company also had a textile mill which was sold some time before the commencement of the winding-up proceedings against the company. By an order made by this court on 7th October, 1969, the company was ordered to be wound up under the provisions of the Companies Act, 1956, ...

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