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Judgment Search Results Home > Cases Phrase: debentures companies act Court: punjab and haryana Page 1 of about 72 results (0.036 seconds)

Dec 07 2000 (HC)

Canara Bank Vs. Arihant Industries Ltd.

Court : Punjab and Haryana

Reported in : [2002]110CompCas70(P& H)

..... dated 20-12-1995, does not exclude the initiation of action at the behest of the petitioners contemplated under the companies act, 1956. undoubtedly, the companies act, 1956, specifically vests a right in a debenture holder to initiate action for winding up of the company. the aforesaid statutory right has not been abrogated by the petitioners in the agreement dated 20-12-1995, nor has ..... under the companies act, 1956, cannot be abrogated by the trustee agreement. 19. i have considered the submissions addressed ..... of section 434, which authorises, inter alia, a debenture holder to initiate a petition for winding up of the company under section 433 of the companies act, 1956. it is submitted that the statutory right vested in the petitioners ..... pointed out that no action whatsoever was taken by the debenture trustee, i.e., the ifci. the failure on the part of ifci to initiate action lead to the filing of the instant petition. 18. it is submitted that the instant petition has been filed under section 434 of the companies act 1956. pointed attention has been drawn to clause (ii) .....

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Mar 31 1994 (HC)

S.C. Bhatia Vs. P.C. Wadhawa

Court : Punjab and Haryana

Reported in : [1998]92CompCas511(P& H); (1994)107PLR676

..... the disposal of this petition are that p. c. wadhawa, respondent, filed a complaint under section 73 of the companies act, 1956, against the petitioner alleging that indana spices and food industries limited floated debentures in august, 1991. he applied for 40 debentures of the company and issued cheque for a sum of rs. 3,000 bearing no. 569179, dated august 9, 1991, on haryana ..... through the record, the chief judicial magistrate, chandigarh, summoned the present petitioner to stand trial for an offence under section 73 of the companies act.3. the petitioner alleged that the complaint, annexture 'p-7', was in abuse of the process of law having been filed with a malicious intention to tarnish the image of ..... of 10 weeks plus eight days and no interest was paid for this period in spite of various letters written to the company. the director of the company violated the provisions of sub-section (2a) of section 73 of the companies act, 1956, and was liable for action under sub-section (2b) of that section.2. after hearing counsel for the complainant and going ..... he authorised by the central government to file the complaint. even if debentures had been allotted to him still he could not become a shareholder of the company unless he held shares.8. the contention of learned counsel for the petitioner is quite tenable. under the act, protection is given to companies from frivolous and malicious prosecution hatched by any person who has no .....

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Jan 20 2009 (HC)

Commissioner of Income-tax Vs. Majestic Auto Ltd.

Court : Punjab and Haryana

Reported in : [2009]310ITR90(P& H)

..... ) on printing of the memorandum and articles of association ;(iii) by way of fees for registering the company under the provisions of the companies act, 1956 (1 of 1956) ;(iv) in connection with the issue, for public subscription, of shares in or debentures of the company, being underwriting commission, brokerage and charges for drafting, typing, printing and advertisement of the prospectus ;(d) such other items ..... of expenditure (not being expenditure eligible for any allowance or deduction under any other provision of this act) as may ..... company commences ;(ii) in a case referred to in clause (ii) of sub-section (1), the aggregate of the issued share capital ..... or the setting up of the new industrial unit of the assessee;(b) 'capital employed in the business of the company means-(i) in a case referred to in clause (i) of sub-section (1), the aggregate of the issued share capital, debentures and long-term borrowings as on the last day of the previous year in which the business of the .....

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Mar 13 2007 (HC)

Mr. P.D. JaIn and ors. Vs. Oswal Agro Mills Ltd.

Court : Punjab and Haryana

Reported in : [2007]139CompCas33(P& H); [2008]81SCL308(Punj& Har)

..... the agreement before the high court they were also entitled to interest as provided under section 205a(4) of the companies act.considering the nature of the dispute and the claim of the complainants to recover interest on the dividend/interest on debenture since 1986 onwards, which apparently appears to be stale, is not required to be dealt with or decided under the ..... rs. 1.51 crores deposited before this hon'ble court, had the same amount been deposited by the respondent-company with the central government in compliance of the provisions of the companies act, 1956.8. that this hon'ble court ought to direct the respondent company to pay to the petitioners the amount accrued thereon as interest for the period during which the respondent ..... for the entire period starting from 1988 till date, despite having repeated requests.16. that the petitioners who are also the holders of non-convertible debentures as stated in para 7 above on which the respondent company had to pay an interest at the rate as set out in para 8 have also not been paid to the petitioners. that the said ..... defaults in depositing the unpaid interest and dividend before the central government in compliance of the provisions of the companies act.4. the other grievance of learned counsel for the appellants is that the impugned order does not deal with the prayer as set out in the application.5. the impugned .....

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Dec 24 1959 (HC)

Jarnial Singh Harjit Singh and anr. Vs. Bakshi Singh Sham Singh and an ...

Court : Punjab and Haryana

Reported in : AIR1960P& H455; [1960]30CompCas192(P& H)

..... the relevant articles of the articles of association of the company are reproduced below: 'article 2. the company is a 'private company' within the meaning of section 2(1)(13) of the indian companies act, 1913, and accordingly (1) no invitation shall be issued to the public to subscribe for any share, debentures or debenture stock of the company (2) the number of the members of the ..... company (exclusive of persons in the employment of the company) shall be limited to fifty, provided that for the purposes of ..... companies act, 1913 defines 'private company' as under ':-- 'private company' means a company which by its articles- (a) restricts the right to transfer its shares, if any; and (b) limits the number of its members to fifty not including persons who are in the employment of the company; and (c) prohibits any invitation to the public to subscribe for the shares, if any, or debentures of the company ..... to an impingement on the owner's right to dispose of his shares beyond permissive inhibition. (25) i find nothing in the articles of association or in the indian companies act prohibiting a transfer of shares to a joint-holder in his individual capacity. joint-holders as such are not a distinct legal entity apart from the individual owners who .....

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Jul 30 2004 (HC)

P.G.F. Ltd. Vs. Union of India (Uoi)

Court : Punjab and Haryana

Reported in : [2005]124CompCas201(P& H); (2004)4CompLJ288(P& H); [2004]55SCL165(Punj& Har)

..... a committee in 1950, under the chairmanship of shri bhabha. on the basis of the recommendations made by the bhabha committee, the companies act, 1956, was enacted, incorporating therein provisions vesting power with the central government, to conduct inspection and investigation. the government of india appointed another committee under the ..... determining the issue in hand, the apex court traced out the legislative history of the companies act, commencing from the enactment of the joint stock companies act of 1850, till the addition of section 58a to the companies act, 1956 [inserted through the companies (amendment) act, 1974]. the court also noticed the fact, that the government of india had appointed ..... the 'issue of securities'; to pay for services rendered (or to be rendered) in acting as trustees for 'debenture' or 'debenture stock holders' or for guarantying the placing on any 'shares' in the company's capital or any debenture or debenture stock or 'other securities of the company' etc.; to sell, improve, manage, develop, exchange, lease, mortgage, dispose of, ..... in securities, by regulating the businesses dealing therewith. section 2(h) of the aforesaid act defined the term 'securities' as under :--'(h) 'securities' include-- (i) shares, scrips, stocks, bonds, debentures, debentures stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;(id) to (ic)** ** **(ii) government securities; and(iia .....

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Jul 10 2013 (HC)

Escorts Hospital and Research Centre Limited. Vs. Unknown

Court : Punjab and Haryana

..... be reported in the digest?. surya kant j. in this petition under section 391 to 394 of the companies act, 1956, duly supported by affidavits, the petitioner-transferor and transferee companies seek directions to dispense with the convening of meetings of the equity shareholders , convertible debenture holders and un-secured creditors and to consider/approve the scheme of amalgamation (annexure p-1) of the ..... of the petitioner-transferor company-i, gupta dinesh 2013.07.26 14:56 ..... aforesaid transfer companies with transferee company. [2].it is averred that the petitioner-transferor and transferee companies are registered under the companies act, 1956. [3].the main objects .....

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Apr 11 2014 (HC)

(1) I.T.A. No.39 of 2012. Vs. M/S Pooja Investment Pvt. Ltd., LudhianA ...

Court : Punjab and Haryana

..... investment companies do, acted intelligently in managing its portfolio. when sale and purchase of shares, debentures and other securities are subjected to vagaries of market forces which considerably affect quantum of profits and at times even results in losses, ..... merely to earn dividend and thus,was in the nature of capital investment different from the normal business activity of dealing in shares and debentures, is an argument, devoid of any merit.16. assessee, a company earning its income from sale and purchase of shares, securities as also from dividends and interest from its investments, as all other such ..... again is engaged in earning income from investments etc. in short, the assessee is fully engaged in whole time business and trading activity of dealing in investments in shares, debentures, mutual funds etc. these are its stock-in- trade as is raw material for a manufacturing concern. to demonstrate, as time is stock-in-trade for a chartered ..... investments enuring for fixed returns are safe and are sometimes used by investment companies to offset their possible losses in trading of other scrips. consequently .....

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Aug 19 2015 (HC)

Commissioner of Income-tax-I Vs. Naveen Bhatia

Court : Punjab and Haryana

..... act. further, sub section 2a of section 49 provides that the cost of acquisition of the asset to ..... shall apply to the following transfers : ** ** ** (x) any transfer by way of conversion of bonds or debentures, debenture-stock or deposit certificates in any form, of a company into shares or debentures of that company". section 49(2a) "(2a) where the capital asset, being a share or debenture of a company, became the property of the assessee in consideration of a transfer referred to in clause (x ..... 47(x) and 49 (2a) were inserted by the finance (no.2) act, 1961 with retrospective effect from 1.4.1962. section 47(x) provides that any transfer by way of conversion of bonds or debentures, debenture-stock or deposit certificates in any form, of a company into shares or debentures of that company shall not mean transfer within the meaning of section 45 of the ..... the assessee shall be deemed to be that part of the cost of debenture, debenture-stock, bond or deposit certificate in .....

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Oct 18 1972 (HC)

Dev Raj Vs. the Union of India and ors.

Court : Punjab and Haryana

Reported in : AIR1974P& H65

..... setting off the valuation of the property against the compensation payable to him. (e) by transfer of shares or debentures in any company or corporation:-- (f) in such other form as may be prescribed (2) for the purpose of payment of compensation under this act the central government may by rules provide for all or any of the following matters:-- (a) the classes ..... which the form and manner in which, and the instalment by which compensation may be paid to different classes of displaced persons: (c) the valuation of all property, shares and debentures to be transferred to displaced persons: (d) any other matter which is to be or may be prescribed.' 95. section 8(1) specifies the various modes of payment of compensation ..... in one or more of the various forms stated therein, namely cash, government bonds, sale to the displaced person of any property from the compensation pool, transfer of shares and debentures and such other form as may be prescribed. sub-section (2) thereof provides that for the purpose of payment of compensation the central government may, by rules, provide, inter alia ..... any rule. the underlying principle is that unlike sovereign legislature which has power to enact laws with retrospective operation, authority vested with the powers of making subordinate legislation has to act within the limits of its power and cannot transgress the same. the initial difference between subordinate legislation and the statute laws lies in the fact that a subordinate law making .....

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