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Judgment Search Results Home > Cases Phrase: debentures companies act Court: company law board clb Year: 2003 Page 1 of about 4 results (0.057 seconds)

Nov 24 2003 (TRI)

Gaurav Toshniwal Vs. Best and Crompton Engineering

Court : Company Law Board CLB

Decided on : Nov-24-2003

Reported in : (2004)120CompCas451

..... in m/s. best & crompton engineering limited ("the company") has made this application under section 117c of the companies act, 1956 ("the act") submitting that the company has failed to redeem the debentures aggregating rs. 5,500/- together with interest. the application came up for hearing and disposal before this bench on 29.08.2003, 30.09.2003 and finally on 28.10 ..... .2003.2. during the hearing, shri k. kuppuswamy, dy. general manager -secretarial appeared for the respondent company and submitted ..... can order repayment of redemption amount from the investor education and protection fund. by virtue of section 205c(2) of the act, the investor education and protection fund was established with effect from 31.10.1998 and matured debentures with companies shall be credited to such fund, if such amounts have remained unclaimed and unpaid for a period of seven years from the ..... on or before 31.8.2002 to effect payment. for this letter also the applicant had not responded. the company had, therefore, remitted the entire unclaimed redemption amount of debentures to the investor education and protection fund as specified by section 205c of the act vide challan no. 317/2002-2003 dated 12.9.2002. however, on 7^th may 2003, the applicant .....

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Jan 30 2003 (TRI)

Hb Stockholdings Limited Vs. Jaiprakash Industries Limited

Court : Company Law Board CLB

Decided on : Jan-30-2003

Reported in : (2003)116CompCas28

..... in doing so, beneficial reference may be made to the similar provisions of the english act. section 356 of the english companies act, reads (1) except when the register of members is closed under the provisions of this act, the register and the index of members' names shall be open to the inspection ..... the register and index of beneficial owners maintained by a depository under section 11 of the depositories act shall be deemed to be an index of the members for the purposes of the companies act. therefore, the question of treating the list of beneficial owners as a part of the register ..... referred to in sub-section (1) shall, except when the register of members of debenture holders is closed under the provisions of this act, be open during business hours (subject to such reasonable restrictions, as the company may impose, so that not less than two hours in each day are allowed for ..... petition filed under section 163 of the companies act, 1956 (the act), the petitioner company has alleged that m/s jaiprakash industries limited. (the company) have filed to supply copies of register of members in spite of repeated requests and as such sought for directions to the company to supply a certified copy of list ..... respective transferor and transferees and the name of persons who have ceased to be the beneficial owners. as per section 150 of the act, a company is required to maintain a register of members indicating therein the details specified in that section and there is no provision in that .....

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Jul 02 2003 (TRI)

Canara Bank Vs. National Power Grid Corporation

Court : Company Law Board CLB

Decided on : Jul-02-2003

Reported in : (2004)122CompCas312

..... etc. amount to frustration of the contract.10. as far as application of the amended articles retrospectively is concerned, the learned counsel pointed out to section 31(2) of the companies act and submitted that in terms of this section, the alterations be as valid as if originally contained in the articles. in calico dyeing case (supra), the supreme court has approved ..... capacity as the trustee of can bank mutual fund (the fund) has filed this petition under section 111(4) of the companies act, 1956 (the act) seeking for rectification of the register of members of m/s power grid corporation limited (the company) by inserting the name of canara bank trustee-can bank mutual fund a/c centriple plus, in place of can bank ..... question of registration of transfer of the bonds as sought for does not arise.16. the learned counsel for the company relied on certain cases to contend that if a company acts bonafide and in the interest of the company, such an action cannot be challenged. while it is so, the action should be based on correct principles. in the present case, bonds held ..... a petition under section 111 of the act seeking for rectification of the register of members. in that case also, the company forfeited the bonds on the ground that can fina had not repaid rs. 60 crores deposited by the company. two preliminary issues were raised by the company that the letters of allotment were neither shares nor debentures and as such section 111 was .....

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Dec 30 2003 (TRI)

Pinamaneni Subb Rao and K.Y. Mok Vs. Semiconductors Limited

Court : Company Law Board CLB

Decided on : Dec-30-2003

Reported in : (2004)53SCL58

..... "merely because there is an arbitration clause or an arbitration proceeding, or for that matter an award, the court's jurisdiction under sections 397 and 398 of the companies act, 1956, cannot stand fettered. on the other hand, the matter which can form the subject-matter of a petition under sections 397 and 398 cannot be the subject ..... while the second respondent was the managing director of the first respondent till november, 2002. the first respondent had invested in 2000 directly by subscribing to the convertible debentures of short term nature of the eighth respondent to the tune of 3.5 millions for working capital operations to overcome the financial difficulties of the eighth respondent. moreover ..... , the eighth respondent failed to redeem the debentures on due dates. the company and the eighth respondent have entered into a security agreement thereby granting security interest in favour of the company to secure with the property. the eighth respondent has been raising funds by diluting drastically the interest ..... . the second respondent has converted the accrued interest on the convertible debentures by allotting shares of common stock in the eighth respondent in favour of the company without consent of the board of directors or shareholders or the investors of the company causing severe financial constraint on the company. the second and third respondents have terminated the local resident (mauritius .....

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