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Judgment Search Results Home > Cases Phrase: debentures companies act Sorted by: old Court: orissa Page 2 of about 19 results (0.056 seconds)

Mar 20 2009 (HC)

Sri Sanjay Kumar Das Burma Vs. State of Orissa

Court : Orissa

Reported in : 2009(I)OLR779

..... india alleging therein that the petitioner filed his nomination papers along with an affidavit wherein he had declared that neither he nor his spouse was holding any shares or debentures in the company named above. but on the basis of the petition, the sub-collector-cum-returning officer was directed to conduct an inquiry and who, after inquiry came to a conclusion ..... that though the complainant disclosed that he was a director of the company, named above, yet he failed to disclose the shares and debentures held by him and his spouse in the said company. the petitioner challenges the order of cognizance on the ground that as per section 36 of the representation of peoples ..... is the director of neelachal builders pvt. ltd. and the details of the motor vehicle owned by the company. according to him, as he has disclosed himself as a director of the said company, it pre-supposes that he is holder of the shares and debentures. hence, there was no mala fide intention on the part of the petitioner for suppression of fact ..... act, 1951 whenever any candidate files nomination paper it is the statutory obligation of the returning officer to scrutinize the nomination papers and .....

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Nov 16 2010 (HC)

Sudarshan Gochhayat. Vs. State of OrissA.

Court : Orissa

..... within the meaning of any law relating to co-operative societies for the time being in force in any state. anil agarwal foundation which is a company registered under the companies act does not fall under any of the categories of the authorities for whom a valid land acquisition process can be launched to acquire land for serving the ..... that employment and have continued to be members after the employment ceased; and (c) prohibits any invitation to the public to subscribe for any shares in, or debentures of, the company. (d) prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives: provided that where two or more persons hold one ..... rules.154. the various points discussed above will facilitate a clearer perception of the position that under the companies act, there are three kinds of companies whose rights and obligations fall for consideration, namely, private companies, public companies and private companies which have become public companies under section 43-a(1) but which retain, under the first proviso to that section, the three ..... the acquisition for a private cooperative house building society to construct houses for its members must be a private purpose. 8. explanation. private company' and government company' shall have the meanings respectively assigned to them in the companies act, 1956 (1 of 1956). a plain reading of the fascicule of these provisions clearly indicates the distinction, statute has envisaged, namely, .....

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Nov 16 2010 (HC)

Jayaram SwaIn and ors.Vs. State of OrissA.

Court : Orissa

..... within the meaning of any law relating to co-operative societies for the time being in force in any state. anil agarwal foundation which is a company registered under the companies act does not fall under any of the categories of the authorities for whom a valid land acquisition process can be launched to acquire land for serving the ..... that employment and have continued to be members after the employment ceased; and (c) prohibits any invitation to the public to subscribe for any shares in, or debentures of, the company. (d) prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives: provided that where two or more persons hold one ..... rules. 154. the various points discussed above will facilitate a clearer perception of the position that under the companies act, there are three kinds of companies whose rights and obligations fall for consideration, namely, private companies, public companies and private companies which have become public companies under section 43-a(1) but which retain, under the first proviso to that section, the three ..... the acquisition for a private cooperative house building society to construct houses for its members must be a private purpose. 8. explanation. private company' and government company' shall have the meanings respectively assigned to them in the companies act, 1956 (1 of 1956). a plain reading of the fascicule of these provisions clearly indicates the distinction, statute has envisaged, namely, .....

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Feb 29 2008 (HC)

Subash Chandra Panda Vs. State of Orissa and 6 ors.

Court : Orissa

Reported in : AIR2008Ori88; 106(2008)CLT324; 2008(I)OLR659

..... or financial institution or any consortium or group of banks or financial institutions and includes-(i) debenture trustee appointed by any bank or financial institution; or(ii) securitization company or reconstruction company, whether acting as such or managing a trust set up by such securitization company or reconstruction company for the securitization or reconstruction, as the case may be; or(iii) any other trustee ..... transaction of a prior date.15. the definition of 'financial institution' under section 2(m) of the said act has several classifications. section 2(m)(i) is meant for public financial institution within the meaning of section 4a of the companies act. section 2(m)(ii) is meant to include any institution specified by the central government under sub-clause (ii ..... ) of clause (h) of section 2 of the recovery of debts due to banks and financial institutions act and under section 2(m)(iii) means the international finance corporation ..... the madras high court in the case of digivislon electronics ltd. v. indian bank reported in (2005) 126 company cases 630 (madras). in that judgment also reliance was placed on the same principle that section 17 of the securitization act provides for a remedy before the debts recovery tribunal. in that judgment an observation was also made that the writ .....

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Feb 23 1993 (HC)

Gopal Chandra Ghose Vs. Orissa State Financial Corporation

Court : Orissa

Reported in : AIR1994Ori143

..... court, reported in 1975 (1) cwn 118 : (air 1975 orissa 132) (state financial corporation ltd. v. satpathy brothers & handu company (p) ltd.) under section 31 of the act, three types of reliefs can be prayed for by the state financial corporation.(a) for an order for the sale of the property ..... in making payment of instalments which he had failed. therefore this statutory power contained in section 31 being a special power conferred under this act must prevail over the general principle that in the enforcement of a contract by an agent without adding the principal will not be maintainable ..... and all receipts of the financial corporation shall be carried thereto and all payments by the corporation shall be made therefrom.'section 7 of the act deals with the additional financial capital of financial corporation and its borrowing power. sub-section (3) of which authorises the financial corporation to borrow ..... the loan in accordance with the agreement even after sending him several notices, the respondent approached the district judge under section 31 of the act praying for an order of sale of the properties mortgaged and hypothecated as per unjustment of the sale proceeds towards the dues together with ..... the grant of loan or advance to an industrial concern or subscription to debentures of an industrial concern. thus there was an express provision in the act that one of the statutory functions of the corporation is to act as an agent of the state government in respect of loans of the .....

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Mar 30 1998 (HC)

In Re: Ocl India Ltd.

Court : Orissa

Reported in : AIR1998Ori153; [1999]95CompCas429(Orissa)

..... shall be dealt with infra. the said resolution reads as follows :'resolved, by way of special resolution that pursuant to sections 78 and 100 and other applicable provisions of the companies act, 1956 and subject to confirmation of the high court at orissa and any other approval/s as may be required, the premium for 18,00,000 ordinary shares of rs ..... . 10/- each which have been allotted on 1st january, 1997 and 21st july, 1997 upon conversion of zero coupon convertible debentures (zccds) issued on rights basis be reduced from rs. i30/- per share to rs. 95/- per share by cancellation of liability for payment of rs. 35/-per share payable on ..... or proper.' 2. reasons seeking for reduction are stated to be as follows:(a) by a letter of offer dated september 18, 1996 the company issued, on rights basis to its shareholders, 18,00,000 zero coupon convertible debentures of rs. i40/- each (hereinafter referred to as 'zccds') along with detachable warrants to part finance the expansion and/or modernisation projects undertaken ..... there is strong cause. thus in re meur's brewery co. ltd.,(l919) l ch 28 (1918-19) all er rec 1192, debenture-holders unsuccessfully objected that the proposed reduction would be prejudicial to their security by enabling the company to pay dividends out of profits instead of such profits being applied in making good the lost capital. no evidence was adduced .....

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Jul 07 2006 (HC)

Shivalik Motors Limited Vs. Bharat Motors Limited

Court : Orissa

Reported in : 102(2006)CLT762; [2008]143CompCas462(Orissa)

..... to which date, the case was fixed. it was further directed to serve a copy of the petition as per section 394a of the companies act, 1956 on the regional director, department of company affairs, central government, which is a necessary party, for obtaining the opinion of the regional director and the official liquidator was also asked ..... 070.00--------------------------------------------------------------------------------total 51,144,610.28 14,350,198.03 36,794,412.25part-iia) short description of the shareholdings, debentures, current assets, current liabilities and other items of shivalik motors limited, the transferor company as on 31.03.2005:--------------------------------------------------------------------------------description as on 31.03.2005 (in rs.)--------------------------------------------------------------------------------authorised share capital 10,000,000.00issued, ..... 473,204.39current liabilities 12,318,088.80provisions 17,772.00miscellaneous expenditure 127,600.00--------------------------------------------------------------------------------b) short description of the shareholdings, debentures, current assets, current liabilities and other items of bharat motors limited, the transferee company as on 31.03.2005:--------------------------------------------------------------------------------description as on 31.03.2005 (in rs.)--------------------------------------------------------------------------------authorised share capital 17,500,000. 00issued, susbcribed .....

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Feb 13 2009 (HC)

Rabindranath Educational Trust Rayagada Vs. Union of India (Uoi) and o ...

Court : Orissa

Reported in : 107(2009)CLT402

..... institution or any hospital or other medical institution as on the 1 st day of june, 1998;(ii) any assets (being debentures issued by, or on behalf of, any company or corporation), acquired by the fund, trust or institution or any university or other educational institution or any hospital or other medical ..... the petition is liable to be dismissed.5. at this juncture, it is necessary to take note of the relevant provisions of section-10 of the it act, which are quoted below:section 10. incomes not included in total income - in computing the total income of a previous year of any person, any ..... stipulated in 3rd proviso to section 10(23c)(vi) by not investing the surplus funds in accordance with provisions of section 11(5) of the it act is not entitled to avail exemption under section 10(23c)(vi) for the assessment years 2003-04 and 2004-05. the learned ccit is fully ..... very purpose of the institution for imparting education clearly comes within the ambit of section 2(15) of the it act as public utility being charitable in nature. the primary and dominant purpose of the institution being charitable one the other object itself may not charitable ..... his explanation before the learned ccit. the learned ccit on 17.07.2006 has passed an order disallowing exemption under section 10(23c)(vi) of the it act for the assessment years 2003-04 and 2004-05. hence, this petition.3. mr. j.m.pattnaik, learned counsel for the petitioner submits that the .....

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Jul 28 2010 (HC)

Pradeep Kumar Sahoo and ors. Vs. State of Orissa and ors.

Court : Orissa

..... to 39% by gridco and as to 10% by the trustees, all such shares being fully paid."" cesco is a public company ltd. by shares and was incorporated under the companies act, 1956 on 19th november, 1997."" jvco recognizes that gridco's principal objectives in selling a majority stake in cesco to jvco ..... merger or amalgamation of the business with the business of any other entity;5.3.6) the subscription for or acquisition or any shares, debentures or securities or interest in any other entity;5.3.7) the incurring of borrowings which would breach covenants in world bank or other ..... managing director had no authority to create the new cadre i.e. "revenue improvement cadre", it was an internal matter of the company and the company cannot hide behind the plea that the managing director did not have the necessary authority. the petitioners have walked into the present state of ..... hereinabove and the order of termination was passed by complying with the terms of agreement for service entered into between the petitioners and opposite party-company. upon termination, the management offered the petitioners an opportunity to be re-inducted to the cesco cadre but on the specific term and conditions ..... the same.16. in so far as other contentions raised by the petitioners are concerned, the following facts clearly emerge.the cesco (opposite party-company) decided to create a "revenue improvement cadre" and circular inviting application was issued on 21.2.2000 (annexure-2). the petitioners submitted their .....

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