Court : Chennai
..... lakhs 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 ..... profit 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 ..... the commissioner of income tax (appeals), which was dismissed by the commissioner that the order was not an appealable order under 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 115a .....Tag this Judgment!
Court : Company Law Board CLB
Reported in : (1998)1CompLJ150
..... 1. the petitioners herein, in the petition filed under section 248/250 of the companies act, 1956, in the matter of blossom breweries limited, have sought that the company law board should direct the respondents herein to furnish various details regarding shares in the company. when the matter was taken up for hearing, shri sarkar,, appearing for the respondents, raised the following preliminary objections with the prayer that ..... objections. since the petitioners have strong suspicions about the ownership of shares they have moved the company law board under section 250(1) of the companies act. he further submitted that as long as the^ situations contemplated under section 247/248 are present, the petitioner can move this petition under section 250(1) wherein specific provision has been made that a complaint could be made "in this ..... board should consider the merits of the submissions of the petitioners. thus, the provisions of sections 247 and 248 of the act are independent of each other and there is no need that the grounds under section 247 should be satisfied before invoking powers under section 248. while the company law board can dismiss a petition, after looking into the various material placed before it by the .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1962Cal23
..... 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 on the file of the liquidation proceedings; the deposition 'is not open to inspection by any creditor, contributory or ..... 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 kept son the file ill spite of the general words of rule 58 of the general order of the 11th november 1862 ..... 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 ..... other persons, save upon orders of court. section 477 read with rules 243 to 248 shows that a proceeding under section 477 is a private proceeding. the com-panies .....Tag this Judgment!
Court : Mumbai
Reported in : 95CompCas28(Bom)
..... 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 law board by its order, dated january 16 ..... for what purpose that information is to be used would arise. in the submission of learned counsel, the remedy provided by section 248 of the companies act is an end in itself, and it cannot be said that section 248 has to be used only in aid of some other proceedings and the order to be passed in some other proceedings ..... the rival submissions made that it is the provisions of section 248 of the companies act which fall for consideration in the present petition and it is the provisions of sub-section (1) of section 248 which are relevant for the purpose. section 248(1) reads as under :'248. information regarding persons having an interest in company.--(1) where it appears to the central government, or ..... 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 provides a substantive remedy for .....Tag this Judgment!
Court : Karnataka
..... 405] has held as under:- 12.it seems to me, therefore, upon considering various authorities on this subject that the following principles are doubtless applicable to sub-section (2) of section 536 of the companies act, 1956: 1.the court has an absolute discretion to validate a transaction.2.this discretion is controlled only by the general principles which apply to every kind of judicial ..... order passed by the learned company judge in company application nos.437, 441, 440, 439 and 438/2012 in company petition nos.122, 121, 248, 185 and 57/2012 decided on 24th may 2013, where on an application filed under section 536(2) read with section 537(1) of the companies act, 1956 (for short hereinafter referred to as the act ), granted permission to the company to sell 13,612,591 ..... this osa is filed under section 483 of the companies act, 1956 r/w section 4 of the karnataka high court act 1961, praying to set aside the order dated 24-05-2013 passed by the learned single judge in company application no.437, 441, 440, 439 and 458 and 2013 in company 18 petition no.122, 121, 248, 185 and 57 of 2012 and set aside all actions taken ..... equity shares of united spirits limited (usl) held by it, to relay b.v. and diageo plc and others acting in .....Tag this Judgment!
Court : Company Law Board CLB
Reported in : (2006)129CompCas713
..... matters falling under chapter vi of part vi of the companies act, 1956 and all other matters incidental thereto, shall be dealt with by additional principal bench at chennai consisting of any one ..... 250, 388(b), - 408 and 409 and matters falling under chapter vi of part vi of the companies act, 1956 and all other matters incidental thereto, shall be dealt with by principal bench consisting of any one of the following ..... of section 10e of the companies act, 1956 ( 1 of 1956) read with regulation 4 of the company law board regulations, 1991 amended from time to time and in supersession of all earlier orders, the company law board hereby constitutes the following benches for the purpose of exercising and discharging its powers and functions in the manner specified below:- (a) matters falling under sections 235, 237, 247, 248, ..... : l. shri s. balasubramanian, vice chairman 2. shri c.r. das, member (3) k. k. balu, member (b) matters falling under sections 235, 237, 247, 248, 250, 388(b), 408 and 409 and .....Tag this Judgment!
Court : Company Law Board CLB
Reported in : (1997)88CompCas81
..... 1. shri chandrika prasad sinha of patna has filed this petition under sections 237(b), 247, 248 and 250 of the companies act, 1956 (hereinafter called "the act"), against bata india ltd., calcutta (hereinafter called "the company"). the other respondents are : leader a.g. st. moritz, switzerland, c/o. bata (india) ltd., calcutta (respondent no. 2) and bata (bn) d.v. amsterdorm, the netherlands, c/o ..... .bata india ltd., calcutta (respondent no. 3), bata india ltd. is a public company with ..... petitioner has not come with clean hands as he has suppressed material facts. (vi) there are no proceedings before the company law board to invoke sections 247, 248 and 250. (vii) the company law board has no jurisdiction under the various sections referred to above.21. we have carefully perused all the above grounds and have come to the conclusion that the petition ..... 250(1) and (2) cannot be invoked ; (v) on a consideration of the matters alleged in the petition and the provisions of sections 237(b), 247, 248 and 250, the company law board has no jurisdiction to entertain or adjudicate upon the petition ; (vi) it is evident that the petitioner is aware of all the facts. thus, there is .....Tag this Judgment!
Court : Kolkata
Reported in : 38CompCas519(Cal)
..... employee, r. s. paul, was of assistance to the company law board in its investigation under sections 235, 237, 239, 247, 248 and 249 of the companies act, 1956. the protection under section 635b of the companies act, 1956, as amended was introduced for preventing obstructions to such investigation under the aforesaid sections of the companies act, 1956, by removal of an employee who was or is of ..... assistance to the company law board in such investigation.25. true, ..... n. b. housep.b. no. 2703,18a, brabourne road, calcutta-1. sub: proposed termination of services of shri r. s. paul-approval sought for under section 635b of the companies act, 1956. gentlemen,i am directed to refer to your letter no. est/8719 dated the 8th march, 1966, on the above subject and to say that the notice ..... which has established the authority whose decision is in question. in my opinion, the companies act, 1956, has not either in the said section 635b or anywhere else laid down that the company law board in arriving at or forming its opinion under section 635b of the companies act, 1956, is to act judicially.22. in the case of sardar govindrao v. state of madhya pradesh, .....Tag this Judgment!
Court : Delhi
..... appeals against the judgment dated 4th march, 2011 of the learned company judge in the co.pet.no.248/2009 preferred by the respondent under section 433(e) r/w section 434 of the companies act, 1956 whereby provisional liquidator of the appellant company has been appointed and the directors and officers of the appellant company have been restrained from selling, parting with possession or creating third ..... party interest in respect of moveable and immovable properties/assets of the appellant company. notice of ..... declaration is only liable for penalty; that in any case the appellant cannot take advantage of its own default in not obtaining the permission; attention is invited to section 47 of the companies act to contend that implied authority is sufficient. reliance is placed on the oriol indistries ltd. v. the bombay mercantile bank ltd. air 1961 sc 993 and ..... question of giving a guarantee did not arise; i.that the notice dated 1st may, 2009 was a demand notice and not a notice under section 433(e) r/w section 434 of the companies act; j. that the winding up petition had not been filed by a duly authorized person. the existence of the stock purchase and sale agreement and .....Tag this Judgment!
Court : Delhi
Reported in : 55CompCas204(Delhi); ILR1982Delhi181; 145ITR537(Delhi); 53STC357(Delhi)
..... 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 : 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 proceedings. furthermore, the 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.  16 comp case 71; 14 itr 248 , held that the leave of the ..... company court will be necessary if the machinery for ..... priority over other unsecured creditors. it was held that the special provisions of winding up in the act would override the general provisions in the indian i.t. act. this case extends the principle of shiromani sugar mills  16 comp case 71; 14 itr 248 . this case illustrates that whenever any action, recovery or substantive provisions of law, cuts at the root .....Tag this Judgment!