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Judgment Search Results Home > Cases Phrase: debentures companies act Sorted by: recent Court: kolkata Page 1 of about 352 results (0.021 seconds)

Jun 13 1968 (HC)

Calcutta National Bank Ltd. (In Liquidation) Vs. Rangaroon Tea Co. Ltd ...

Court : Kolkata

Reported in : AIR1969Cal578

..... be issued and not executed. in the travancore cochin case it was said that since shares, stocks, bonds and debentures under the companies act were issued and the word 'issue' was used in relation to shares in various sections and in s. 109 of the companies act the word used was 'created' and not the word 'issued', 'instruments executing or creating charge' in the defence ..... of the illegality under rule 94-a of the defence of india rules the plaintiff appellant did not have the mortgage registered in accordance with section 109 of the indian companies act.- 39. for these reasons, i am of opinion, that the contentions advanced on behalf of the appellant fail. the judgment is affirmed. the appeal is dismissed. the order as to ..... covered by the exemption order under the defence of india rules was not sustainable. fifthly the mortgage was void by reason of want of registration under section 109 of the companies act. the learned judge was pleased to dismiss the suit with costs.7. i shall first deal with the question as to whether the mortgage transaction was of ranjit bose or ..... to establish such a case of exemption.38. the last question was whether the transaction of mortgage satisfied the requirements of registration under section 109 of the companies act. if the transaction was of the company and if there was no registration under section 109 the result would be that any person who fails to register it would rank as unsecured creditor. this .....

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Apr 13 1943 (PC)

K. Roy and Bros. Vs. Ramanath Das and ors.

Court : Kolkata

Reported in : AIR1945Cal37

..... the property is required and there is nothing making it compulsory to give any further details of property, so that there is nothing in the registration under the companies act of these debentures which would inform any person exactly what the immovable property was that was charged. it should be remembered that under the provisions of section 109 a ..... 'a general description of the property charged' (i. e., what is required to be registered under the provisions of the companies act). i must mention here that there was no debenture trust deed accompanying the issue of these debentures. in the debenture deed itself the only reference to the property charged is its undertaking for all, its property whatsoever, and wheresoever present and ..... 500 and paid for them. with the money realised from the issue of these debentures the company paid for the machinery it had installed. the debentures were duly registered under section 109, companies act, but they were never registered under the provisions of the registration act (act 16) of 1908. the company after working for a time got into financial difficulties and a winding up order ..... , enquire at the local registry whether there were any charges created on the land. if registration under the companies act of debentures of floating charges is in bombay and is sufficient he would find nothing in the local registry under the registration act. he might, therefore, on searching and finding nothing lend the money only to discover later before the money .....

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Mar 11 2015 (HC)

C.I.T Kolkata Ii Vs. Pilani Investment and Industries

Court : Kolkata

..... existing agreement so as to pass on the burden of interest-tax to the borrower. in the present case, the assessee is a financial company within the meaning of section 2(5b) of the interest tax act, 1974. from debentures and bonds. the interest earned is the learned tribunal, inter alia, held as follows: thirdly and most importantly it is common knowledge that ..... according to the revenue interest earned from bonds and debentures should be open to taxation under the interest tax act. the learned tribunal, in deciding the matter, relied upon a judgment of the bobmay high court in the case of discount and finance house of ..... the cbdt and the provisions of section 2(7) which removed the specific exclusion clause in the definition of chargeable interest, interest on bonds and debenture should be included as chargeable interest under the interest tax act?. although the revenue has proposed two questions, there is only one question which is the question no.1. question no.2 indicates the reason why ..... board have been advised that by not incorporating such exclusionary provision in the present version of the interest-tax act, the natural meaning of the word interest as defined in section 2(7) of the act will have to be given effect. interest on debentures, bonds, securities, etc.is therefore, exigible to interest-tax. the inter-departmental instruction is no aid for construing .....

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Dec 23 2014 (HC)

Tarun Mondal and Ors. Vs. Axis Bank Limited and Ors.

Court : Kolkata

..... who can be classified as secured creditors in terms of the provisions of the companies act, 1956 when such borrower is a company incorporated under the provision of the companies act, 1956. a secured creditor classified as such in terms of the relevant provisions of the companies act, 1956 may or may not be a secured creditor within the meaning of the ..... as such or managing a trust set up by such securitisation company or reconstruction company for the securitisation or reconstruction, as the case may be; or].iii].any ..... also all of such creditors may not come within the definition of secured creditors under the sarfaesi act, 2002. in the facts of the instant case, five creditors of the respondent no.3 are secured creditors within the meaning of companies act, 1956. in respect of the respondent no.3, four secured creditors are secured creditors within the ..... act, 2002. sarfaesi act, 2002 defines as secured creditors.such definition is act, section 2(zd) the definition is as follows:(zd) secured creditor means any bank or financial institution or any consortium or group of banks or financial institutions and includes i].debenture trustee appointed by any bank or financial institutions; or ii].securitisation company or reconstruction company, whether acting .....

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Jun 21 2013 (HC)

Amiya Kr. Dutta Vs. the Principal Secretary.

Court : Kolkata

..... and to carry out, exercise and comply with such agreement or arrangement. (6) to subscribe, acquire or otherwise hold shares, debentures or other interest in any company, directly or indirectly of advantage to this corporation. (7) subject to the provisions of the act, to invest any of the funds and moneys of the corporation in shares or securities of a public or a ..... security or obligation of any company or association and to pay or provide for brokerage, commission and underwriting in respect any such issue ..... persons or companies and in particular to customers of the corporation or any person and corporations with whom the corporation may have or intend to have business relations not amounting to banking business. (14) subject to the provisions of the act, to issue or guarantee the issue of, or guarantee the payment of dividend on the shares, or interest on debentures, or other ..... , warrants, debentures and other negotiable and transferable instruments. (16) to incur from time to time such expenses and to lay out such sums or sums of money as the corporation may think fit for the pu8rpose of carrying out the business and any matter incidental thereto. (17) subject to the provisions of the act, to amalgamate with any person or company whose objects .....

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Oct 12 2012 (HC)

In the Matter of - Maheshwary Ispat Limited and Another

Court : Kolkata

..... presenting or threatening to present a petition to wind up the plaintiff under the provisions of section 517(1)(e) and (f) of the english companies act, 1985 and obtained an initial injunction which was vacated by the judgment cited. the courts approach to the assessment is captured in the following ..... the) mere fact that he has obtained the appointment of a receiver does not preclude him from applying for a winding-up order. buckley on the companies act (14th ed., 1981) has been carried for a passage at page 534 of volume 1 on the meaning of commercial insolvency as envisaged in the ..... d 681)], the decision was rendered on a motion for a declaration in a suit by debenture-holders of a company which have been wound up against another creditor of the company in liquidation. the court was called upon to examine the judicature act, 1875 and held that the rules in insolvency were to apply to ..... -holder who had obtained judgment against the company and was regarded by the court as a judgment-creditor of the company. the court noticed that the creditor ..... act of 1986 coming into force in england one part of the original clause is now reflected in section 123(1)(e) thereof and the other in section 123(2) of that act. in the judgment reported at (1892) 2 ch d 362 (in re: borough of portsmouth tramways company, the creditor was a debenture .....

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Jun 16 2011 (HC)

National Insurance Co. Ltd. Vs. Commissioner of Income-tax-ii, Kolkata ...

Court : Kolkata

..... engaged in the business of insurance other than that of life insurance. the petitioner company is also categorized as public financial institution under section 4a of the companies act, 1956 and is also engaged in the investment activities like purchase and sale of shares, debentures, bonds, government securities etc. as part of its investment business, the appellant also provides various ..... types of loans and advances to different companies as well as credit institutions under different schemes like term ..... banking not being a co-operative society providing credit facilities to farmers or village artisans; (ii) a public financial institution as defined in section 4a of the companies act, 1956 (1 of 1956); (iii) a state financial corporation established under section 3 or section 3a or an institution notified under section 46 of the state financial ..... of deposits from its members and which is declared by the central government under section 620a of the companies act, 1956 (1 of 1956), to be a nidhi or mutual benefit society; or (vi) a miscellaneous finance company, that is to say, a company which carries on exclusively, or almost exclusively, two or more classes of business referred to in .....

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Jun 16 2011 (HC)

National Insurance Co. Ltd. Vs. Commissioner of Income-tax, Kol-ii and ...

Court : Kolkata

..... engaged in the business of insurance other than that of life insurance. the petitioner company is also categorized as public financial institution under section 4a of the companies act, 1956 and is also engaged in the investment activities like purchase and sale of shares, debentures, bonds, government securities etc. as part of its investment business, the appellant also provides various ..... types of loans and advances to different companies as well as credit institutions under different schemes like term ..... banking not being a co-operative society providing credit facilities to farmers or village artisans; (ii) a public financial institution as defined in section 4a of the companies act, 1956 (1 of 1956); (iii) a state financial corporation established under section 3 or section 3a or an institution notified under section 46 of the state financial ..... of deposits from its members and which is declared by the central government under section 620a of the companies act, 1956 (1 of 1956), to be a nidhi or mutual benefit society; or (vi) a miscellaneous finance company, that is to say, a company which carries on exclusively, or almost exclusively, two or more classes of business referred to in .....

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Mar 21 2011 (HC)

Ai Champdany Industries Limited. Vs. Blancatex A. G. and ors.

Court : Kolkata

..... the purpose of enabling it to pass orders on the petition. different principles of law have to be placed side by side and examined. first, are the provisions of the companies act, 1956 for disclosure of certain information, resolutions, deliberations and documents to the shareholders, creditors and the public at large. there are also provisions which provide for secrecy in the conduct ..... the state of uttar pradesh, reported in air 1961 sc 218, cited by mr. s.b. mookerjee, learned senior counsel). now let me examine the powers of the company law board, conferred by the companies act, 1956: 10e.(4c) every bench referred to in sub-section (4b) shall have powers which are vested in a court under the code of civil procedure, 1908 ..... of shareholding. then in that case each and every minority group of shareholders can by filing an application under section 397, 398 compel the company to disclose its affairs to them, contrary to the other provisions of the companies act. such order in my opinion, can only be passed after the prima facie case is established. if the prima-facie case is not ..... on commercial activities. pursuing such activities involve holding of meetings, making deliberations and taking decisions. registers of shareholders and debenture holders and returns have to be kept and maintained by the company and offered for inspection. (see section 163 of the act). minutes of the proceedings of the general meetings and of the board of directors have to be prepared and maintained. (see .....

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Jan 25 2011 (HC)

Yashdeep Trexim Vs. Board for Industrial and Financial Reconstruction ...

Court : Kolkata Appellate

..... on, viz. the decision of the house of lords in knightsbridge estates trust ltd. v. byrne reported in (1940) all er 401 holding that the mortgage was a debenture within the meaning of the companies act, 1929, and the supreme court decisions in reserve bank of india v. peerless general finance and investment co. ltd. reported in (1987) 1 scc 424 dealing with ..... below - (i) 'company' means a company formed and registered under this act or an existing company as defined in clause (ii); ii) "existing company" means a company formed and registered under any of the previous companies laws specified below (a) any act or acts relating to companies in force before the indian companies act, 1866 and repealed by that act; (b) the indian companies act, 1866; (c) the indian companies act, 1882; (d) the indian companies act, 1913; (e ..... ) the registration of transferred companies .....

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