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Search Results Judgments > Act:COMPANIES ACT, 2013, - Preamble

Mar 15 1963

SENAIRAM DOONGARMAL AGENCY (P.) LTD. AND OTHERS Vs. K.E. JOHNSON AND O ...

  • Decided on : 15-Mar-1963

Court : Guwahati

... heard together and a common question had been raised. Civil Rule No.195 of 1962 arises out of a petition filed by Senairam Doongarmall Agency (Private) Ltd., a company incorporated under the Companies Act and having its registered office at Tinsukia. The petitioner caries on banking business and also business in foodgrains, mustard oil and other commodities. The petitioner took over the business ... making the necessary selection....."It will suffice for me to point out that the preamble to the Travancore Act was in much more definite terms than the preamble to the Indian Income-tax Act or to the Indian Finance Act of 1956. Yet the Supreme Court found the preamble to the Travancore Act as of no assistance to the administrative authority for guiding it to make the ... and necessary that the facts alleged in the petitions are briefly set out.In Civil Rule 195 of 1962, the petitioner is one Senairam Doongarmall Agency (Private) Ltd., a company incorporated under the Companies Act and having its registered office at Tinsukia, in the Lakhimpur district, of the State of Assam. Shri K.E.Johnson, the Commissioner of Income-tax, Assam, Tripura and ... in the Finance Act or the Income-tax Act. The preamble of the Income-tax Act is of no help, as the preamble has remained the same from the beginning of the Act, namely, 1922, and obviously, it could not throw any light on the scope of a new provision introduced into the Act, like section 37(2); nor can the scheme of the Act be of any ...

Jul 04 1972

Union of India Vs. Seksarai Cotton Mills Ltd. (In Liquidation) and Ors ...

  • Decided on : 04-Jul-1972

Court : Mumbai

Reported in : [1975]45CompCas613(Bom)

... Companies Act or in any other law for the time being in force. But this aspect of the matter has nothing to do with the question as to whether absolute, unguided or unfettered power or discretion has been conferred upon the Central Government to pick and choose without providing any guideline under section 15A in that behalf. As stated earlier, the preamble ... thereof with necessary powers under the Indian Companies Act, 1956, to take charge of the assets of the company and to conduct its affairs in the course of winding-up and to distribute its assets in accordance with the provisions of the Companies Act. However, it appears that on 14th September, 1962, the 1st respondent-company had executed two debenture trust deeds - ... the Industries (Development and Regulation) Act, 1951, as amended by the Amending Act No. 72 of 1971. 2. The fact giving rise to the application by way of judge's summons may be stated : The Seksaria Cotton Mills Ltd. (hereinafter referred to as 'the 1st respondent-company'), a public limited company incorporated under the Indian Companies Act, VII of 1913, used to ... 1st respondent-company'), a public limited company incorporated under the Indian Companies Act, VII of 1913, used to run textile mills situate at Delise Road, Parel, Bombay. It ceased production and actually stopped its business since about 18th October, 1967. On a creditor's petition, being Company petition No. 139 of 1967, filed on 7th December, 1967, the 1st respondent-company was ordered ...

Dec 04 1950

Chiranjit Lal Chowdhuri Vs. The Union of India (UOI) and Ors.

  • Decided on : 04-Dec-1950

Court : Supreme Court of India

Reported in : AIR1951SC41; (1951)53BOMLR499; [1951]21CompCas33(SC); [1950]1SCR869

... company alone. In fact, the Central Government is empowered to exclude, restrict or limit the operation of any of the provisions of the Companies Act in relation to this company. It is thus plain that the impugned Act denies to the shareholders of this particular company the protection of the law relating to incorporated joint stock companies in this country as embodied in the Companies Act ... 71. On January 9, 1950, the Governor-General of India, acting under section 42 of the Government of India Act, 1935, promulgated an Ordinance, being Ordinance No. II of 1950, concerning the Sholapur Spinning and Weaving Company, Limited, (hereafter referred to as the said company). The preambles and the provisions of the Ordinance have been referred to ... Companies Act. - (1) Notwithstanding anything contained in the Companies Act or in the memorandum or articles of association of the company (a) it shall not be lawful for the shareholders of the company or any other person to nominate or appoint any person to be a director of the company; (b) no resolution passed at any meeting of the shareholders of the company ... Act in the case of the shareholders of this company alone. In fact, the Central Government is empowered to exclude, restrict or limit the operation of any of the provisions of the Companies Act in relation to this company. It is thus plain that the impugned Act denies to the shareholders of this particular company the protection of the law relating to incorporated joint stock companies ...

Jan 10 2001

Union of India Vs. Elphinstone Spinning and Weaving Co. Ltd. and Ors. ...

  • Decided on : 10-Jan-2001

Court : Supreme Court of India

Reported in : AIR2001SC724; JT2001(1)SC536; 2001(1)SCALE157; (2001)4SCC139; [2001]1SCR221; 2001(1)LC496(SC)

... to implement the decision to nationalise the mills being the basis for enactment of the Taking Over of the Management of the Mills Act, question of taking recourse to the remedies available under the Companies Act or Industries Development and Regulation Act really do not arise and on that score it cannot be said that there has been a violation of Article 19( ... that it should have a limited application. In Coal Bearing Areas (Acquisition and Development) Act 1957 the Court was construing a Notification issued under Section 4(1) of the said Act and as in the present case the preamble of that Act was to the effect 'An Act to establish in the economic interest of India greater public control over the coal mining ... the appropriate Government did not take any action under the provisions of the Companies Act, nor there had been any investigation as provided under Section 15 and 15A of the Industrial Development and Regulation Act, according to Mr. Nariman, obviously, those provisions are less drastic in nature than the impugned Act and in fact, there was no urgent necessity for enacting a law ... larger public interest and not an executive decision of the Government which could have taken recourse to some other remedial measure provided under the Industries Development and Regulation Act or the Companies Act. If Parliament decides to enact a law for taking over the management of the Textile Mills, pending completion of the process of nationalisation, on a genuine apprehension that ...

Nov 06 1996

Air India Statutory Corporation, etc. Vs. United Labour Union and othe ...

  • Decided on : 06-Nov-1996

Court : Supreme Court of India

Reported in : AIR1997SC645; (1997)3GLR2576; (1997)ILLJ1113SC; 1996(9)SCALE70; (1997)9SCC377; [1996]Supp9SCR579

... law and in order to be in tune with open economy, it became a company registered under the Companies Act. To consider its sweep on the effect of Heavy Engineering case on the interpretation of the phrase 'appropriate Government', it would be necessary to recapitulate the Preamble, Fundamental Rights (Part III) and Directive Principle (Part IV) - trinity setting out ... and Anr. v. Brojonath Ganguly and Anr. : (1986)IILLJ171SC , a Government company incorporated under Companies Act was held to be an instrumentality or agency. In this case, this Court construed the Fundamental Rights under Articles 14 to 17, the Directive Principles under Articles 38 41 and 42, the Preamble of the Constitution and held that the River Steam Navigation Co. ... company to its employees, were all derived from the Memorandum of Company and Articles of Association of the Company and not by the reason of the Company being agent of the Central Government. The learned Judges came to that conclusion on the basis of concession and on private law of principal and agent and as regards a company registered under the Companies Act ... a statutory authority under international Airport Authority of India Act, 1971 (for short, 'IAAI Act') and on its repeal by the Airports Authority of India Act, 1994 was amalgamated with National Airport Authority (for short, the 'NAA') under single nomenclature, namely, IAAI. The IAAI is now reconstituted as a company under Companies Act, 1956.3. The appellants engaged, as contract labour, ...

Aug 04 1948

Pirji Safdar Ali Vs. The Ideal Bank Ltd. and Ors.

  • Decided on : 04-Aug-1948

Court : Punjab and Haryana

Reported in : AIR1949P& H94

... company registered under the Indian Companies Act, 1913, prior to the first day of April, 1937, or any bank included in Schedule II, to the Reserve Bank of India Act, 1934,other than debts transferred to such societies, banks or banking companies during the pendency of an application under Section 9 in which such debts could be taken into consideration for the purposes of this Act ... Protection Act and to find whether the Indian companies or co operative societies or mortgages and sales are affected by the various provisions of this Act, reference has to be made to the preamble of the Act as without this reference it is not possible to determine the precise scope of the various sections contained in this Act.19. The preamble lays down that the Act was enacted ... loan advanced by a bank, a co-operative-society or a company whose accounts are subject to audit by a certised auditor under the Indian Companies Act, 1913; (v) a loan advanced to a trader; (vi) an. advance made on the basis of a negotiable instrument as defined in the Negotiable Instruments Act, 1881, other than a promissory note; (vii) a transaction which is ... as the decree-holder was a bank registered under the Companies Act and the loans by it did not come within the purview of the Act, hence the objection had no force. He also affirmed the opinion of the executing Court that mortgage decrees were outside the scope of Section 10, Punjab Debtors' Protection Act. The judgment-debtor, therefore, was unsuccessful in respect of ...

Mar 21 1984

Ajoy Kumar Banerjee and Ors. Vs. Union of India (UOI) and Ors.

  • Decided on : 21-Mar-1984

Court : Supreme Court of India

Reported in : AIR1984SC127; [1984(48)FLR448]; 1984LabIC691; (1984)ILLJ368SC; 1984(1)SCALE539; (1984)3SCC127; [1984]3SCR252; 1984(16)LC500(SC)

... the companies would not fall within Section 16(1)(g) of the Act. According to the petitioners, the only properly called schemes sanctioned under Section 16(1) are those four merger schemes of 1973 as would be evident from the preamble to the Act.19. The petitioners further contend that under the Life Insurance Corporation Act, Banking Companies Act. ... as would be evident from the preamble to the Act.19. The petitioners further contend that under the Life Insurance Corporation Act, Banking Companies Act. etc. there were powers to frame regulations independently of reorganisation. But there is no such power, according to the petitioners, under the General Insurance Business (Nationalisation) Act, 1972. The said notification therefore is ... shall form a Government company in accordance with the provisions of the Companies Act, to be known as the General Insurance Corporation of India for the purpose of superintending, controlling and carrying on the business of general insurance. Section 10 stipulates that all shares in the capital of every Indian insurance company which shall stand transferred ... of the general insurance companies under the General Insurance (Emergency Provisions) Act, 1972. The general insurance business was nationalised by the General Insurance Business (Nationalisation) Act, 1972 (Act 57 of 1972). The preamble of the Act explains the purpose of the Act as to provide for the acquisition and transfer of shares of Indian insurance companies and undertakings of other ...

Sep 16 2003

Centre for Public Interest Litigation Vs. Union of India (UOI) and Anr ...

  • Decided on : 16-Sep-2003

Court : Supreme Court of India

Reported in : AIR2003SC3277; 2004(5)ALLMR(SC)65; 1(2004)BC173(SC); [2003]117CompCas123(SC); (2003)4CompLJ1(SC); 2003(4)CTC237; JT2003(Suppl1)SC515; 2003(7)SCALE491; (2003)7SCC532; [2003]

... Preamble, though does not control the statute, is an admissible aid to construction thereof. The Act sets out that the assets of the undertaking shall vest in the Government as provided under Section 3 of the Act. However, Section 7 of the Act enables the Government to transfer the undertaking to a Government company as defined under Section 617 of the Companies Act, 1956. If the Act ... Act, 1971 audit of companies is to be conducted by him in terms of the Companies Act. Annual Reports on the working of affairs of the company is laid before Parliament under Section 619(1)(b) of the Companies Act. Such control will be lost if a company ceases to be a Government company.13. Argument of Sri Harish Salve that a simple amendment of Section 617 of the Companies Act ... the said company are vested in the State and thereby so distributed as best to subserve the common good;' 10. Section 2(d) of the Act defines a 'Government company' to mean 'A company as defined in section 617 of the Companies Act, 1966.' Section 617 of the Companies Act, 1956 provides that a Government company means 'any company in ... Act. However, Section 7 of the Act enables the Government to transfer the undertaking to a Government company as defined under Section 617 of the Companies Act, 1956. If the Act intended that the undertaking so vested in the Government company can be transferred, wholly or partly, to any company other than a Government company, there certainly would have been an Indication to that effect in the Act ...

Jun 22 2005

Motorola Inc., Erisson Radio Vs. Deputy C.I.T.

  • Decided on : 22-Jun-2005

Court : Income Tax Appellate Tribunal (ITAT) - Delhi

Reported in : (2005)96TTJ(Delhi)1

... is for India and submitted that the same was prepared under the cash system of accounting which is not valid under Indian Law since a company, under Companies Act, 1956 is obliged to prepare its accounts on the mercantile system of accounting.He pointed out further that the CIT(Appeals) has recorded ... is entered into between JT Mobiles and 'EFC' which is the branch of another Swedish company but belongs to the LME group, i.e. the same group to which the assessee company belongs. The preamble to the supply contract gives expression to the willingness of the parties to sell and buy ... rejected the assessee's submissions and recorded the following findings: (a) The assessee maintained accounts on the mercantile basis as it was required to under the Companies Act, 1956 under which it was required to do so in respect of its Indian operations. (b) No evidence was filed by the assessee to ... to be established. In CIT v. Gulf Oil (Great Britain) Ltd. (108 ITR 874), the Bombay High Court held that even if the foreign company acts through its subsidiary in India, no business connection could be inferred. Mr. Dastur laid much stress on the judgments of the Madras High Court ... .e. the same group to which the assessee company belongs. The preamble to the supply contract gives expression to the willingness of the parties to sell and buy the GSM equipment, comprising of the hardware and licensing of application software. Likewise, the preamble to the installation contract expresses the desire of ...

Mar 22 1971

Union of India and Anr. Vs. Tata Engineering and Locomotive Co. Ltd.

  • Decided on : 22-Mar-1971

Court : Mumbai

Reported in : [1972]42CompCas72(Bom)

... incorporated under the Indian Companies Act, 1913. Thereafter, it carried on banking business. Its business was nationalised by the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1970, succeeded by the Banking Companies (Acquisition and Transfer of Understakings) Act, 1970, hereinafter referred to as 'Act V of 1970', after an attempt to do so by a prior Ordinance and a prior Act which latter ... 20, which he, for the sake of emphasising the concept, referred to as 'giants'. To ascertain that intention he referred to the preamble of the Monopolies Act and the heading of Chapter III. The preamble reads : 'An Act to provide that the operation of the economic system does not result in the concentration of economic power to the common detriment, ... such facts exist then it can be said that the company 'is engaged in' carrying on business of producing goods or making provision for service. A memorandum is a pre-requisite to the registration of a company under the Companies Act. It is common knowledge that in the case of many companies they do not carry on any business after they ... Restrictive Trade Practices Act, 1969, hereinafter referred to as 'the Monopolies Act'. We also propose to dispose of these two appeals by a common judgment as both the matters have been heard together and involve common facts and identical points for consideration. 2. On 1st September, 1945, Telco was incorporated as a company under the Indian Companies Act, 1913. Its authorised ...

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