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Judgment Search Results Home > Cases Phrase: debentures companies act Year: 1938 Page 1 of about 8 results (0.075 seconds)

Aug 03 1938 (PC)

Major Anthony Ulysses John and ors. Vs. Seth Suraj Bhan and ors.

Court : Allahabad

Decided on : Aug-03-1938

Reported in : AIR1938All609

..... the case before the court was not one of winding up and that the company has not in fact been wound up. that may he so, but section 129, companies act, states as follows:where either a receiver is appointed on behalf of the holders of any debentures of a company secured by a floating charge, or possession is taken, by or on behalf of ..... those debenture-holders of any property comprised in or subject to the charge, then, if the ..... the same.8. now it is clear that the debenture-holders have a fixed charge under their debentures on the property in schedules 2, 3 and 4 and they have a floating charge on the other assets of the company. we consider therefore that the priority to the wages of workmen given by the companies act would only be in this case in regard to ..... the other assets of the company in clause 5 on which .....

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Oct 18 1938 (PC)

Tenneti Viswanadham Vs. M.S. Menon, Official Liquidator of the Swarajy ...

Court : Chennai

Decided on : Oct-18-1938

Reported in : AIR1939Mad202; (1939)1MLJ185

..... leach, c.j.1. by a resolution dated the 7th july, 1935, the swarajya printing and publishing company, limited, madras, a company incorporated under the indian companies act, 1913, resolved to issue 1,000 debentures of rs. 50 each and 922 of these debentures were issued. there was no debenture trust deed, but on each certificate the conditions of issue were printed and the loan was stated ..... the indian registration act. the company is now in liquidation, and the question is whether the holders of these debentures are entitled to rank as secured creditors. the question was considered ..... to be on the security of specified immovable property. the debentures were registered with the registrar of joint stock companies pursuant to section 108 of the indian companies act, but they were not registered under .....

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Jan 20 1938 (PC)

H. Ezekiel Vs. Carew and Co. Ltd.

Court : Kolkata

Decided on : Jan-20-1938

Reported in : AIR1938Cal423

..... 1936 at noon when the subjoined resolutions will be proposed as extraordinary resolutions, namely:(1) that pursuant to the provisions of the companies act 1913 and of article 37 of the company's articles of association, the capital of the company be increased to rs. 30,00,000 by the creation of 1,40,000 additional ordinary shares of rs. 10 each ranking ..... , cheques, promissory notes, bills of lading and all other mercantile documents receipts for fixed deposits with banks shares, policies of insurance, government or other securities for money, shares in public companies, debentures, war bonds, war loan and dues for payment of money and to execute, sign, enter into, acknowledge, perfect and do all such contracts, hypothecations, leases, reconveyances, transfers of ..... plaintiff in this case is the son of one david ezekiel, who on. 2nd september 1936, was the registered holder of 16,800 ordinary shares in the defendant company. the defendant company's registered office is at calcutta and their business is that of sugar manufacturers and distillers. on 18th april 1929, david ezekiel had executed a power of attorney in ..... the matter when they found that david through his constituted attorney had purported to nominate the plaintiff. they had no objection to the plaintiff personally as a member of the company, but the fact that shares in, which the plaintiff claimed a beneficial interest had been attached by the magistrate's court made them apprehensive that difficulties might be expected .....

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Jun 30 1938 (PC)

Bharat Abhyudoy Cotton Mills Ltd. Vs. Maharajadhiraj Sir Kameswar Sing ...

Court : Kolkata

Decided on : Jun-30-1938

Reported in : AIR1938Cal745

..... an application for leave to appeal in forma pauperis under the provisions of order 44, rule 1, civil p.c. the application is made by a company incorporated under the companies act called the bharat abhyudoy cotton mills ltd. and the respondent to the application is stated to be maharaja sir kameswar singh, k. c. i. e ..... at all sure that the word 'person', in the setting in which it appears in order 33, rule 1, civil p.c., includes a company incorporated under the companies act. there is authority no doubt in support of the contrary view in 41 mad 624.1 that is mainly based on the definition of 'person' in ..... last paragraph of the petition. the point of law to which i have referred is this-whether it is possible for and competent to a company incorporated under the companies act to prefer an appeal as a pauper under the provisions of order 44 of the code. rule 1 of that order provides thatany person entitled ..... the word 'person' in order 33, rule 1, and so the word 'person' in order 44, rule 1, does not include a limited company incorporated under the companies act. i doubt very much whether it is even right to say, as the madras high court have said, that it includes a liquidator of a limited ..... a sum of eight lacs of rupees said to have been borrowed by the company through their managing agents, the firm of sital prosad kharag prosad and by means of the issue of 80 debentures of rs. 10,000 each which debentures were secured by an indenture dated 4th may 1927 and were issued subject to .....

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Apr 25 1938 (PC)

Major A. U. John, in Re.

Court : Allahabad

Decided on : Apr-25-1938

Reported in : [1938]6ITR434(All)

..... flour mill, the purchase price being rupees one crore and twenty lacs. the company issued rs. 50 lacs of debentures. the company fell into arrears in respect of payment of interest on the debentures and in 1927 the debenture holders sued the company for a sum of rs. 62,00,000. the suit was decreed in ..... the principal laid down in the case of commissioner of income tax, bengal v. shaw wallace & co.by section 4(3) (vii) the act shall not apply to 'any receipts not being receipts arising from business or the exercise of a profession, vocation or occupation which are of a casual ..... lordships intended that the element of periodical receipt, regularity or expected regularity of monetary return was an essential ingredient of income under the indian income tax act. their lordships later in their judgment observe :'the claim of the taxing authorities is that the sum in question is chargeable under head (iv) ..... down for the guidance of the courts in india some general principle on the question as to what can be treated as income under the act. the terms of that part of their lordships judgment above quoted are undoubtedly general and, in our opinion, were not intended by their lordships ..... doubt, into income, profits and gains, but the expansion is more a matter of words than of substance. income, their lordships think in this act connotes a periodical monetary return coming in with some sort of regularity or expected regularity, from definite sources. the source is not necessarily one which is .....

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Apr 25 1938 (PC)

Major A.U. John Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Apr-25-1938

Reported in : AIR1938All464

..... flour mill, the purchase price being rupees one crore and twenty lacs. the company issued rupees fifty lacs of debentures. the company fell into arrears in respect of payment of interest on the debentures and in 1927 the debenture holders sued the company for a sum of rs. 62,00,000. the suit was decreed in ..... in commissioner of income-tax, bengal v. shaw wallace & co., (1932 a.i.r. p.c. 136). by section 4(3)(vii) the act shall not apply toany receipts not being receipts arising from business or the exercise of a profession, vocation or occupation, which are of a casual and non ..... to indicate that the element of periodical receipt or regularity or expected regularity of money return was an essential ingredient of 'income' under the income-tax act. their lordships later in their judgment observe:the claim of the taxing authorities is that the sum in question is chargeable under head (iv) business ..... down for the guidance of the courts in india some general principle on the question as to what can be treated as income under the act. the terms of that part of their lordships' judgment above quoted are undoubtedly general and in our opinion, were not intended by their lordships ..... doubt, into 'income, profits and gains,' but the expansion is more a matter of words than of substance. income, their lordships think, in this act connotes a periodical monetary return 'coming in' with some sort of regularity or expected regularity from definite sources. the source is not necessarily one which is .....

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Jan 31 1938 (PC)

Cross (inspector of Taxes) Vs. London Provincial Trust, Ltd.

Court : Kolkata

Decided on : Jan-31-1938

Reported in : [1939]7ITR109(Cal)

..... example, goods) instead of money, such goods are income arising from the security; scottish and canadian general investment co. v. easson, where debentures of a new company were received in place of interest due on bonds issued by an old company. on the other hand, where there is a mere substitution of a promise to pay at a later date for the obligation ..... whereby the new security was substituted for the old.'it is clear that the 'realisable shares or bonds' referred to in this passage are shares or bonds issued by some company, since the assessees were individuals and the expression therefore could not refer to some such security issued by them. it is to 'realisable' things of this character that the phrase ..... this court and i wish respectfully to reserve for consideration whether, if a case similar to the second of the two cases were to arise under the english income tax acts, the circumstance that the mortgagors under the substituted mortgage were not the same as those under the original mortgage might not be of importance. but, subject to this reservation, i ..... that notwithstanding the fact (which i will assume) that the post-dated cheque was a thing of moneys worth. a question of this nature arose under the indian income tax act, 1922, in income tax commissioner v. maharajadhiraja of darbhanga. there, under an arrangement between debtor and creditor, the creditor took from the debtor, in satisfaction of principal and interest due .....

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Apr 25 1938 (FN)

Erie Railroad Co. Vs. Tompkins

Court : US Supreme Court

Decided on : Apr-25-1938

..... . . . . where the public has made open and notorious use of a railroad right of way for a long period of time and without objection, the company owes to persons on such permissive pathway a duty of care in the operation of its trains. . . . it is likewise generally recognized law that a jury ..... one of the moving cars. to enforce that claim, he brought an action in the federal court for southern new york, which had jurisdiction because the company is a corporation of that state. it denied liability, and the case was tried by a jury. page 304 u. s. 70 the erie insisted ..... footnote 1 ] shall now be disapproved. tompkins, a citizen of pennsylvania, was injured on a dark night by a passing freight train of the erie railroad company while walking along its right of way at hughestown in that state. he claimed that the accident occurred through negligence in the operation, or maintenance, of the ..... april 25, 1938 304 u.s. 64 certiorari to the circuit court of appeals for the second circuit syllabus 1. the liability of a railroad company for injury caused by negligent operation of its train to a pedestrian on a much-used, beaten path on its right-of-way along and near ..... act of congress. it merely declares that, by applying the doctrine of that case, rights which are reserved by the constitution to the several states have been invaded. p. 304 u. s. 79 . 90 f.2d 603, reversed. page 304 u. s. 65 certiorari, 302 u.s. 671, to review the affirmance of a judgment recovered against the railroad company .....

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