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Judgment Search Results Home > Cases Phrase: debentures companies act Court: supreme court of india Year: 1963 Page 1 of about 4 results (0.182 seconds)

May 09 1963 (SC)

Sri Gopal Jalan and Company Vs. Calcutta Stock Exchange Association Lt ...

Court : Supreme Court of India

Decided on : May-09-1963

Reported in : AIR1964SC250; [1963]33CompCas862(SC); [1964]3SCR698

..... concerned, observed at p. 264, 'in the present case, the articles relating to forfeiture do not, in my view, offend against the provisions of the companies act, as they do not contemplate a reduction of capital or a purchase of shares or a trafficking in shares'. now, obviously, if upon forfeiture, the shares ..... re-issue of a forfeited share is not an allotment of share within s. 75(1). the word 'allotment' has not been defined in the companies act either in our country or in england. but we think that the meaning of that word is well understood and no decision has been brought to ..... question in this appeal is, what is the meaning to be ascribed to the word 'allotment' occurring in s. 75(1) of the companies act, 1956 that section requires a company to file a return of the allotment of its shares with the registrar within a month of the making of the allotment. the appellant who ..... . as the learned judges of the high court pointed out, s. 75 occurs in part iii of the act which deals with 'prospectus and allotment, and other matters relating to issue of shares or debentures'. section 69 to 75 are classed under the sub-heading 'allotment' and the only kind of allotment that ..... is dealt with in these sections is the appropriation of shares to individuals out of the unappropriated share capital of the company. in these circumstances it would be .....

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Dec 06 1963 (SC)

Burn and Company Ltd. Vs. Its Workmen

Court : Supreme Court of India

Decided on : Dec-06-1963

Reported in : [1964(8)FLR138]; (1964)ILLJ370SC; [1964]5SCR823

..... as payment to meet a future liability inasmuch as the liability to make to payment to the trustees arose under the act itself. this is not a case where the company was laying by money for a future liability but was able to use it if it liked. that would be ..... paid in the past or loss of previous years carried forward but written off in the accounting year as also future liabilities, e.g., redemption of debenture stock, or provision for provident fund and gratuity and other benefits, etc., which, however, necessary they may be cannot be included in the category ..... (3) repairs to buildings, (4) repairs to machinery, were all revenue expenditure. mr. sen has pointed out that the annual accounts of the company show the expenditure incurred for capital expenditure separately. he contends that entries in the profit and loss account on the items mentioned above having been accepted by ..... machinery was obtained, it would be unreasonable to ignore the quotations received from those countries. the tribunal however points out that mr. mukherjee, the company's witness has himself admitted that rehabilitation could be conveniently made by importing from eastern european countries. the only reason this witness has given for ..... like, east germany, poland, czechoslovakia and u.s.s.r. etc. mr. sen has rightly urged that it must be left to the company to decide from which country the new machinery should be obtained and if it decided that rehabilitation could properly be made by obtaining replacements of .....

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Jul 30 1963 (SC)

Bengal Nagpur Cotton Mills Vs. Board of Revenue, Madhya Pradesh and or ...

Court : Supreme Court of India

Decided on : Jul-30-1963

Reported in : AIR1964SC888; [1964]4SCR190

..... to realise octroi from the appellant, in the following circumstances : the appellant, bengal nagpur cotton mills ltd., rajnandgaon, is a limited company incorporated under the indian companies act, and carries on business of manufacturing textiles as rajnandgaon with its head office at calcutta. rajnandgaon was the capital of the former state ..... the proprietors of a dividend of ten per cent per annum on the share capital of the new company including in such capital such money as may be raised by way of debentures.' 2. it appears that the increase of octroi on imported goods produced by other mills was ..... later found to hamper the trade and commerce of the state, and the appellant company was persuaded to forego the protection, and the municipal ..... state merged with the state of madhya pradesh. it seems that for a few years, the municipal committee did not recover octroi from the appellant-company. on september 20, 1952, the municipal committee at a general meeting passed a resolution in the following terms : 'this committee, therefore, resolves that ..... because it had already been imposed nor the cancellation of an exemption because the municipal committee had not granted an exemption to the appellant-company. the resolution only indicated that on and from a particular date, the municipal committee would recover octroi which it had already imposed a .....

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Apr 11 1963 (SC)

Bengal Kagazkal Mazdoor Union and anr. Vs. the Titaghur Paper Mills Co ...

Court : Supreme Court of India

Decided on : Apr-11-1963

Reported in : [1963(7)FLR202]; (1963)IILLJ358SC; [1964]3SCR38

..... has been earmarked for a particular purpose which is binding and must be carried out, for example, an amount kept in reserve for paying debentures when they fall due, it cannot be deducted from the gross rehabilitation amount. further when that case lays down that the whole or a part ..... the tribunal seems to have ignored this fact altogether in calculating rehabilitation amount for the years in dispute. as was pointed out in the associated cement companies case : (1959)illj644sc , all the rehabilitation amount which may have been allowed to the employer for rehabilitation in previous years but remained unused for ..... account of new blocks being added followed by further rise of prices after the purchase of the new blocks. as was pointed out in the associated cement companies case : (1959)illj644sc , the tribunal has before awarding the proper amount in respect of rehabilitation, to make deduction, (firstly) on account of break- ..... court then decided was that in calculating the amount of tax payable, the tribunal should take into account the concessions given by the income-tax act, though in the report it is printed that the tribunal should not take into account the concessions. this will however be clear from the ..... calculating the income-tax the tribunal should take into account the concessions given by the income-tax act to the employers, for two more depreciations are allowed under s. 10(2)(vi) of the income-tax act. at p. 962 of the report in the supreme court reports, the word 'not' .....

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