Court : Mumbai
Decided on : Jan-16-2003
Reported in : 2003(4)ALLMR283; 2003(5)BomCR389; 2003(2)MhLj790
..... make effective recovery of the loans granted by them and therefore, the non-performing assets, had increased to staggering proportion. i am informed at the bar that by 1996, the state of maharashtra refused to give a guarantee of the principal and interest on the debentures which could be issued under section 114 of the act ..... original order on merits, then such a statute would be construed as excluding the audi alterant partem rule at the pre-decisional stage. conversely, if the statute conferring the power is silent with regard to the giving of a pre-decisional hearing to the person affected and the ..... 1919, cooperation became a transferred subject and came under the purview of the provincial governments. the province of bombay took the lead and in 1925, the bombay co-operative societies act, 1925 was passed which was amended to inter alia allow the state government to extend financial assistance to societies ..... into such better financial shape where the state government could be persuaded to revive guarantees and nabard could be persuaded to resume refinancing.6. it, appears that the 1998 balance sheet of the agricultural and rural development bank reflected this sorry picture and on the basis ..... of the said act.3. as the possible fall of one more bastion of old style commerce is under consideration, the history of its building and collapse would bear scrutiny.4. the problem of reducing indebtedness and of bringing credit facilities within the reach of agriculturists on reasonable .....Tag this Judgment!
Court : Mumbai
Decided on : Jul-31-2003
Reported in : 2004(1)BomCR24
..... forest' within the meaning of the maharashtra private forests (aquisition) act, 1975 (hereinafter referred to as 'the said act'). a prayer is also made to set aside the order passed by sub-divisional officer, bombay suburban district dated 23rd april, 1985 under section 6 of the said act. a declaration is sought to the ..... of water, prevention of erosion of soil and for improvement of land and underground water resources to the best interests of agricultural and agriculturists in such private forest and other land in the state and for undertaking schemes for such purposes.and whereas it is also expedient ..... private forest' and by taking such view, it exceeded jurisdiction and hence, the said decision deserves to be quashed by this court by exercising powers under articles 226 and 227 of the constitution and accordingly, the said decision is quashed and set aside.105. for the aforesaid reasons, in ..... found to be convenient, appropriate or suitable for acquisition for public purposes and, hence, 'withdrawal notification' was issued does not make 'forest' or 'private forest' land to be 'non-forest' land.90. likewise, reliance on two letters/communications dated 12th january, 1972 by the sub-divisional forest officer, national ..... . 18. an affidavit in reply was filed by one of the partners of respondent no. 1 on 24th june, 1998 even before rule was issued by opposing admission of the petition and by requesting the court to dismiss the petition summarily by raising several contentions. it was .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Apr-04-2003
Reported in : 2003(6)ALD307; 2003(6)ALT199; II(2004)BC512; 118CompCas707(AP); 51SCL754(AP)
..... the part of the banks to charge interest at the rates specified under section 21(2)(e) is made punishable under section 46(4) of the banking regulation act, 1949. the primary object of the usurious loans act is to confer a power on court to afford relief to a debtor, if the court has reason ..... it is bound to honour agreement in between the bank and the customers. 16. the learned counsel relies on the decision of the bombay high court reported in bank of maharashtra v. united construction company, : air1985bom432 , wherein it was held that the circular issued by the reserve bank of india govern ..... issue shares mainly to the farmers for its capital requirement for expansion of the sugar factory. as most of the prospective share buyers are the agriculturists, who are to produce the sugarcane and supply the same to the factory and since they are not having sufficient money to pay the share ..... 'interest'. penal interest is an extraordinary liability incurred by a debtor on account of his being a wrongdoer by having committed the wrong of not making the payment when it should have been made, in favour of the person wronged and it is neither related with nor limited to the damages ..... bear the cost of the legal opinion fees as also the cost of the hypothecation agreement which will be stamped with a non-judicial stamp of value of rs. 5/- 6. please acknowledge receipt and arrange accordingly. supply of suitable number of additional application forms will be arranged to meet your requirements .....Tag this Judgment!
Court : Karnataka
Decided on : Mar-17-2003
Reported in : ILR2004KAR1892; 2004(3)KarLJ310
..... granted under the land improvement act, 1871 (26 of 1871), or the land improvement loans act, 1883 (19 of 1883); or(x) any order granting a loan under the agriculturists loans act, 1884 (12 of 1884), or instrument for securing the repayment of a loan made under that act; or(x-a) any order made under the charitable endowments act, 1890 (6 of 1890), vesting any property ..... supra, is also not applicable to the fact situation and the reliance placed upon the judgment of bombay high court hanuman vitamin foods private limited, referred to supra, contending that maharashtra co-operative societies act, 1960, the provisions of sections 29 and 30 of the bombay stamp act, 1958, section 2(1), 2(g) and schedule 1, article 25(b)(i) (as amended in ..... electricity board under the specific power vested by section 79(c) of the electricity (supply) act, 1948, which was contended to be a special law as against the industrial employment (standing orders) act. this court (a bench of three judges) speaking through chinnappa reddy, j., observed:the maxim 'generalia specialibus non derogant' is quite well-known. the rule flowing from the maxim ..... is further stated that benefit of exemption granted in favour of the petitioners-societies and other similarly placed societies under section 38 of the kcs act were being misused by some of the house building co-operative societies by making a person buying the immovable property from the house building co-operative societies as shareholders of the society, but not .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Apr-18-2003
Reported in : AIR2004AP60; 2003(3)ALD762
..... the board as appropriate particularly because it is related to the policy of concessional tariff for the agriculturists as a part of the economic programme......'the view expressed by the state government on a question ..... addressed arguments spreading over more than four weeks. while mr. goolam vahanvati, senior advocate and advocate general of maharashtra led the arguments in this batch on behalf of m/s. rain calcining limited (rcl), appellant in c ..... power can be presumed or assumed. this is the law as laid down by the supreme court in the case of indian aluminium company v. kerala state electricity board, reported in : 1scr70 .230. in this case, their lordships clearly ruled that non-obstante clause used in section 11 of the act ..... may not do' by placing reliance on an earlier judgment of the supreme court in commissioner of police, bombay v. gordhandas bhanji, : 1scr135 , wherein it was held as follows:'when an order or notice ..... amt. rs. crs.wages and salaries490.65administration andgeneral expenses105.20repairs and maintenance185.66rent, rates and taxes5.13approved loan interests60.31security depositinterest31.37legal charges0.97audit and other fees233depreciation508.59other expences39.30contribution to staffpension and gratuity64.95contribution tocontingency ..... revenue from charges etc.407. under sub-section (6) each holder of a supply licence shall publish in the daily newspaper having circulation in the area of supply and make available to the public on request the tariff .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-08-2003
Reported in : 2004(1)ALLMR253
..... to the land acquisition officer vide his letter dated 29th may, 1985. a notification under section 6 of the land acquisition act read with section 126 (4) of the mrtp act was submitted to the collector for his approval, which was ..... market value. ... ...'27a. it is also pertinent to keep in mind that the claimants were not the agriculturists who had lost the only source of income. they were the speculators, who purchased the subject land after ..... and 27 of 1989 were granted n.a. permission under section 44 of the maharashtra land revenue code but he was doubtful whether the tahsildar had such powers. he also stated that he did not take these n. ..... where there is no other material it may in appropriate cases be open to the adjudicating court to make comparison of the prices paid for small plots of land. however, in such cases necessary deductions/ adjustments ..... was passed on 24th march, 1988. the finding recorded by the reference court that the subject land was non-agriculture is, thus, unsustainable as it overlooked the fact that the illegal orders of n.a. permission ..... a notice was indeed served and the provisions of section 127 of the mrtp act, regarding lapsing of reservation, had taken effect. in the case of 'municipal corporation of greater bombay v/s dr. hakimwadi tenants association and others ..... of purchase as stipulated by section 126, is a mixed question of fact and law. it would therefore be difficult, if not well nigh immpossible, to lay down a rule of universal application. it cannot .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Aug-27-2003
Reported in : AIR2003SC3268; 106(2003)DLT392(SC); [2004(1)JCR177(SC)]; JT2003(Suppl1)SC1; (2003)3MLJ194(SC); 2003(6)SCALE724; (2003)7SCC628; 134STC626(SC); 2003(2)LC1513(SC)
..... language admits consistent with the established rule of interpretation.'29. in murlidhar meghraj loya v. state of maharashtra : 1976crilj1527 white dealing with the provisions of food adulteration act it was stated :'5. it ..... section 135 of the customs act, 1962, section 489a of the penal code, section 12(2) of the foreign exchange regulation act, 1947, section 630(1)(b) of the companies act, 1956. section 52a of the copy right act, 1957, and section 133 of the negotiable instruments act ..... an extant living animal. the appellants state that mammoth ivory is distinguishable by visual and non-destructive means vis-a-vis elephant ivory and even in convention on international trade in endangered species (cites) their ..... thereof by a court should be to secure that object, unless crucial omission or clear direction makes that end unattainable.' 27. the courts will therefore reject that construction which will defeat the ..... should allow a court to declare a statute unworkable. in whitney v. inland revenue commissioners 1928 ac 37 lord dunedin said : 'a statute is designed to be workable, and the ..... held that while a power has been conferred upon a higher authority, a presumption can be raised that he would be conscious of its duties and obligations and so would act promptly and reasonably. ..... offence against the person act, 1861 in the light of the current scientific appreciation of the link between the body and psychiatric injury.'25. (see also lalita jalan and anr. v. bombay gas co. ltd .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Feb-25-2003
Reported in : 2003(5)ALD516; 2003(4)ALT177
..... .103. the government in exercise of its power under sub-section (2) of section 12-a of the act cannot interfere in the matter of formation of opinion by the registrar in individual cases. the competency of the government is only to the extent of making rules and issuing directions general in nature for the ..... submitted before the general body that the total share capital is rs. 5,04,37,600/- and out of the same, the share of the agriculturists/shareholders is rs. 2,69,10,600/-. in addition to the share capital of the shareholders in the form of shares, rs. 1,33, ..... of the third respondent-commissioner and director of sugars, directing the managing director of the chittoor cooperative sugar factory limited to convert the alleged loan amount granted earlier by the government into equity and issuing share certificate in favour of the government. the fourth respondent accordingly issued share certificate in ..... in the said decision. the constitutional validity of sections 2(f), 3 and 4 of maharashtra vacant lands (prohibition of unauthorised occupation and summary eviction) act (66 of 1975) came up for consideration in the said decision. the said provisions were struck down by the bombay high court as being violative of articles 14 ..... the government of andhra pradesh is holding shares worth rs. 50 lakhs and the cane-growers hold shares to the extent of rs. 1.6 crores, non-cane growers hold rs. 29,800/- and other societies and institutions hold rs. 66,200/-. it is also stated that it was decided .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-08-2003
Reported in : 2003(6)BomCR511
..... intend to remove or dispose of their property with a view to defeat or defrauding its creditors either under order xxxviii, rule 5 or order xxxix, rule 1(b), this court has power under section 151 to grant such an order. the learned counsel for the plaintiff relied on a decision of the supreme court ..... judgment is enforceable in the same manner as the judgment of a sister state which is entitled to full faith and credit.'section 4 of the said act reads as follows:---'4. grounds for non-recognition.-(a) a foreign judgment is not conclusive if (1) the judgment was rendered under a system which does not ..... corporate in the u.s.a. it was incorporated in the year 1928 and is described in the plaint as one of the world's largest corporations. it carries on the business, inter alia of design and manufacture of ..... of india, general insurance corporation of india and its subsidiaries, life insurance corporation of india, housing development finance corporation ltd., infrastructure leasing and financial services ltd.6. twenty per cent of the plaintiff's equity is held by motorola, the 1st defendant.7. the defendant no. 1 motorola inc. is a body ..... in the sense that the defendants claim that it was the duty to repay the loan, it does appear that the injunction was refused on the ground that such an injunction should not prevent a defendants from making payment of, or if i may add, receiving the amounts in the ordinary course of .....Tag this Judgment!
Court : Gujarat
Decided on : Mar-21-2003
Reported in : 118CompCas27(Guj)
..... sections 441 and 531 of the companies act. i have also considered judgment in the case of j.k. (bombay) p. ltd. v. new kaiser-i-hind spg. and wvg. co. ltd.  40 comp cas 689 (sc) particularly on pages 713-714 and also the division bench judgment of this court in the case of bank of maharashtra ..... appointed as provisional liquidator earlier by the order dated october 20, 2000, was directed to be appointed as liquidator of the company with usual powers under the companies act, 1956. thereafter, this court by its order dated july 20, 2001, passed in company application no. 44 of 2001 directed the official ..... petrochemicals pvt. ltd., which is required to be paid as per the rules and regulations of the non-trading association and/or co-operative society. in view of the same, the transaction of sale is below the cost of acquisition and loan of rs. 10 lakhs has been adjusted against the price of rs ..... impeached namely, the usufructuary mortgage bond dated august 18, 1924, was supported by good faith and valuable consideration,'63. at para. 7 on page 6 the hon'ble supreme court further observed as under: 'the contrary proposition has not been pressed upon us and we need not therefore pronounce upon that ..... and weaving co. ltd. v. pandharinath martand sulakhe air 1928 bom 341. it was observed in the last case (page 291) (of 30 blr): 'the question to be determined is one of fact ; was the dominant motive actuating the debtor in making the transfer, a desire to prefer the particular creditor or .....Tag this Judgment!