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Judgment Search Results Home > Cases Phrase: debentures companies act Court: delhi Page 1 of about 358 results (0.038 seconds)

Aug 26 2003 (HC)

In Re: Siel Limited;

Court : Delhi

Reported in : [2004]122CompCas536(Delhi); 2004(72)DRJ329; [2003]47SCL631(Delhi)

..... also classified under the heading ''secured loans'' in the balance sheet as per schedule vi to the companies act, the debenture holders would have a pari pasu charge on the fixed assets of the company along with that of the term lenders and, thereforee, the debenture holders would also come within the ambit of the expression ''lenders''. consequently, there was no necessity of having a ..... regulation) act would also corroborate the aforesaid position. in that view of the matter, it is held that the debenture holders are only secured creditor . in the light of the decision of the supreme court in national ..... either within the ambit of the secured creditors nor within the ambit of debenture holders in the light of the facts of the present case. it is, however, necessary to mention that by order passed on the petitions filed by the petitioners under section 391(1) of the companies act meetings were ordered to be held of the equity shareholders and the preference ..... a y compromise or arrangement in respect of debentures, meetings are to be held. the aforesaid submission is found to be without any credence in view of the ratio of the aforesaid decision of the supreme court. a reading of the provision of section 2(12) along with section 2(45aa) of the companies act along with section 28 of the securities (contract .....

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Jul 30 2014 (HC)

Yes Bank Limited Vs. A2z Maintenance and Engineering Services Ltd. and ...

Court : Delhi

..... the judgment, the supreme court did not agree that clause 7.5 puts a total embargo in the part of the company or other creditors to file a compromise under section 391 of the companies act without obtaining the consent of all debenture-holders. under these circumstances in para 38, it has been rightly opined that the party i.e. appellants in that case ..... on the due date as specified. 3.9 debenture certificate : the company shall issue debenture certificate/s to the debenture holder/s after making necessary compliance to the provisions of section 113 (1) of the companies act, 1956 read with the companies (issues of share certificate) rules, 1960. 7.5 negative covenants : unless the debenture holders/trustees otherwise agree, the company shall not : shall a) dividend declare and/or ..... pay any dividend to any of its shareholders, whether equity or preference, during any financial year unless the company has paid to the debenture holders the installments of principal .....

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May 17 2013 (HC)

Company Law Board Vs. Ganesh Flour Mills Co. Ltd.

Court : Delhi

..... approved by the general body of shareholders at properly convened general meetings. 4c. whether there was any valid debenture trust deed executed on 20.5.1970 and if so, whether the court under section 402 of the companies act, 1956 could set aside the debenture trust deed and the interest accrued upon the assets of the respondent no.1 4d. whether the commissioner of ..... payment has any jurisdiction to decide on the validity of and consideration for 7.75 % debentures allegedly issued to the respondent no. 10 and is so ..... india as the administrator of hvocl.23. in an order dated 18th may 1984 the company court noted that as a result of gfmcl act 1984 while gfmcl was allowed to continue, its assets termed as ganesh flour mills had vested in the central government. as far as debentures issued by gfmcl were concerned, the court noted the concern of the clb that ..... the personal gains on the part of the directors, the company suffered losses? 3. whether the acts like alleged licence/lease of property hind oil mills at bombay and or the debentures trust deed obtained by the morarka groups are acts of oppression and misfeasance by morarka groups. if so, its effect? 4. whether the debentures were issued, if the same were issued, whether the .....

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Apr 17 1972 (HC)

Gokul Chand D. Morarka and anr. Vs. Company Law Board and ors.

Court : Delhi

Reported in : [1974]44CompCas173(Delhi); ILR1972Delhi369B

..... was filed by 125 shareholders under sections 397 and 398 of the companies act. on 3-11-1971 a preliminary mortgage decree was passed in ..... section 442 of the companies act by belapur for stay of company petition 45 of 1971 and all proceedings therein and for vacating and interim orders including the on dated 17-6-1971, restraining the debenture trustees from enforcing their right and their debenture deed. on 19-11-1971 company petition 89 of 1971 ..... sections 397 and 398 of the companies act and on the same day c.a. 254 of 1971. for certain interim reliefs was filed. on 17-6-1971 an ex parte order was passed (1) restraining the company from disposing of its assets and (2) restraining the debenture trustees from enforcing their rights. on ..... favor of national & grindlays bank giving six months time for execution. on 10-11-1971 company petition ..... by them. the appointment of brady, armstrong and shaki, as selline agents, is also said to be in contravention of section 294 of the companies act. the company had a liability to pay rs. 10 29 621.00 less income tax, as interest, and rs. 3532,323.74 as commission payable to .....

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Feb 12 1992 (HC)

Madan Gopal Jajoo and Others Vs. Union of India and Others

Court : Delhi

Reported in : AIR1992Delhi253; [1996]85CompCas153(Delhi); ILR1992Delhi877

..... ministry has suggested that condition (t) may be modified as follows:'(t) the issue shall be proceeded with only after obtaining resolution of shares and debenture-holders of m/s. l & t in accordance with the provisions of the companies act 1956 as amended up todate .........however, as suggested by the law ministry the file has been referred back to the department of ..... rs. 820 crores and after modifications are made in l&t;'s said issue.the shareholders and the debenture-holders of l&t; in accordance with the provisions of the companies act, 1956 as amended up to date, have passed the necessary resolutions at their respective meetings held on 20th september, 1991.by a letter no. r. 552/ t/ cci/ 89 dated ..... the land. also if the petitioners feel oppressed being minority shareholders they have enough remedies under the companies act. some of the petitioners are also beneficiaries for having sub- scribed to the debentures under the original consent order.26. the company is doing well. we are told that its shares and debentures are quoted at a much higher value in the stock market and each ..... 8th november, 1991 stipulated under condition (t) that the issue shall be proceeded with only after obtaining resolution from the shareholders and debenture-holders of larsen & toubro limited (l & t) in accordance with the provisions of the companies act, 1956, as amended up to date, (hereinafter referred to 'the act') approving the revised scheme of deployment of proceeds of l & t's issue of .....

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Dec 14 2012 (HC)

Wireless Broadband Business Services (Kerla) Pvt. Vs. ................ ...

Court : Delhi

..... applicant company and the consents obtained for the proposed scheme are as below ..... : company no. of shareholders applicant compan 7. consents given 2 no. of secured creditors nil consents given no. of unsecured creditors ..... accounts of the transferor companies and the transferee company for the year ended march 31, 2012 have been enclosed with the present application.5. it is submitted that the transferor company and the transferee company have no proceedings under section 235 to 251 of the companies act, 1956 pending against them.6. the status of equity shareholders, secured creditors, unsecured creditors and unsecured debenture holders of the .....

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Dec 14 2012 (HC)

Wireless Broadband Business Services ( Haryana) Pv Vs. ............... ...

Court : Delhi

..... applicant company and the consents obtained for the proposed scheme are as below ..... : company no. of shareholders applicant compan 7. consents given 2 no. of secured creditors nil consents given no. of unsecured creditors ..... accounts of the transferor companies and the transferee company for the year ended march 31, 2012 have been enclosed with the present application.5. it is submitted that the transferor company and the transferee company have no proceedings under section 235 to 251 of the companies act, 1956 pending against them.6. the status of equity shareholders, secured creditors, unsecured creditors and unsecured debenture holders of the .....

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Dec 14 2012 (HC)

Wireless Broadband Bisness Services (Delhi) Pvt. L Vs. ............... ...

Court : Delhi

..... applicant company and the consents obtained for the proposed scheme are as below ..... : company no. of shareholders applicant compan 7. consent s given 2 no. of secured creditors nil consents given n.a. no ..... accounts of the transferor companies and the transferee company for the year ended march 31, 2012 have been enclosed with the present application.5. it is submitted that the transferor company and the transferee company have no proceedings under section 235 to 251 of the companies act, 1956 pending against them.6. the status of equity shareholders, secured creditors, unsecured creditors and unsecured debenture holders of the .....

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Apr 27 2015 (HC)

Commissioner of Income Tax-I Vs. Accession Buildwell (P) Ltd.

Court : Delhi

..... of the opinion that the revenue s contentions have to perforce, fail. furthermore, the mandate of section 117c of the companies act also supports this view, because a debenture debtor such as the assessee in this case, is compelled to a certain margin separately, to secure the interest of the ..... are inextricably linked with the setting up of the capital structure of the assessee-company. they must, therefore, be viewed as capital receipts going to reduce the cost of construction. 4. this court, in indian oil panipat power consortium ..... activities or business activities of the assessee, the same cannot be said in the present case where the utilisation of various assets of the company and the payments received for such utilisation are directly linked with the activity of setting up the steel plant of the assessee. these receipts ..... in authorized share capital could not be allowed and was also not amortizable under section 35d (2)(c)(iii) of the act, not being fee for initial registration of the company. the cit s view was supported by the supreme court judgments in brook bond india ltd. v. commissioner of income ..... have income from other sources.......... the company may also, as in that case, keep the surplus funds in short-term deposits in order to earn interest. such interest will be chargeable under section 56 of the income-tax act". the supreme court, subsequently, in commissioner of income tax v. bokaro steel .....

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Apr 03 2014 (HC)

Peeyush Agarwal Vs. Sanjiv Bhavnani and ors.

Court : Delhi

..... with respect to the said amount. [(1901) ac118(pc) hardoon v. belilios].27. section 153b of the companies act, 1956 states that: declaration as to shares and debentures held in trust: (1) notwithstanding anything contained in section 153, where any shares in, or debentures of, a company are held in trust by any person (hereinafter referred to as the trustee), the trustee shall, within such ..... shares were parked with the first respondent.17. section 153 of the companies act reads as under: trusts not to be entered on register: no notice of any trust, express, implied or constructive, shall be entered on the register of members or of debenture-holders 18. what this section provides for is that a company shall not record in its register of members or ..... ) in any other case, the paid-up value of the shares or debentures. (5) the provisions of this section shall not apply on and after the commencement of the companies (amendment) act, 2000. 28. sections 153a and 153b were inserted by the companies (amendment) act, 1963. the statement of object and reasons appended to the bill has been reproduced as under ..... established under sub-section (1) of section 3 of the securities and exchange board of india act, 1992 (15 of 1992). explanation: the expression " the value of the shares in, or debentures of, a company " in clause (b) means, (i) in the case of shares or debentures acquired by way of allotment or transfer for consideration, the cost of acquisition thereof, and (ii .....

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