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Judgment Search Results Home > Cases Phrase: debentures companies act Year: 1958 Page 1 of about 15 results (0.141 seconds)

May 16 1958 (HC)

Official Liquidator Vs. Sri Krishna Deo and ors.

Court : Allahabad

Decided on : May-16-1958

Reported in : AIR1959All247

..... apparent that such registration is not intended to inform any person as to what the immoveable property is on which the charge is created.the purpose of the registration of debentures, charges and mortgages under the companies act is to give notice to persons dealing with the com-pany of the encumbrances on the properties of the ..... situate.thus in the absence of registration under the provisions of the indian registration act such a person cannot get any information of the charge that might be claimed by a debenture holder.i am therefore of opinion that the registration of the debentures under section 109 of the companies act does not adequately inform any person who may have to deal with any particular ..... was issued of this petition and the petition was opposed both on behalf of the company as well as on behalf of these debenture holders. it is contended that registration under section 109 of the companies act is all that is needed under the law and as the issue of debentures was intended to create only a floating charge on all the assets of the ..... the office of the sub-registrar under the indian registration act.the company however appears to have registered with the registrar joint stock companies the particulars of this third series of debentures on the 18th april 1952 under section 109 of the indian companies act 1913 and it further appears that a printed form of the debentures of this series along with the condition under which they .....

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Apr 01 1958 (SC)

The State of Madras Vs. Gannon Dunkerley and Co., (Madras) Ltd.

Court : Supreme Court of India

Decided on : Apr-01-1958

Reported in : AIR1958SC560; (1958)IIMLJ66(SC); [1959]1SCR379; [1958]9STC353(SC)

..... of considerable importance on the construction of entry 48 in list ii of sch. vii to the government of india act, 1935, 'taxes on the sale of goods.' 2. the respondents are a private limited company registered under the provisions of the indian companies act, doing business in the construction of buildings, roads and other works and in the sale of sanitary wares and ..... by them in the third company. the question was whether a copy of the act had to be stamped ad valorem as on conveyance on sale under ..... the first schedule to the stamp act, 1891. the contention of the company was that there was no sale by the shareholders of their ..... q.b. 507, an act of parliament had provided for the dissolution of two companies under a scheme of amalgamation with a third company under which the shareholders were to be given in exchange for their shares in the dissolved companies, in the case of one company, stock in the third company in certain specified proportions, and in the other, discharge of debentures on shares already held .....

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Oct 29 1958 (HC)

The Star Tile Works Ltd., Kallai and ors. Vs. N. Govindan and ors.

Court : Kerala

Decided on : Oct-29-1958

Reported in : AIR1959Ker254

..... section 153 and section 176 of the companies act. section 153 is to the effect that:'no notice of any trust, express, implied or constructive shall be entered on the register of members or of debenture holders, or be receivable by the registrar.'section 176 of the act deals with proxies. it gives a ..... to argue that most of the decisions relied upon by the lower courts are decisions which do not deal with the provisions of the new company act of 1956 which according to him has really enlarged the powers of the central government and other authorities.we cannot accept this contention. we have ..... a civil court and not by any of the forums mentioned in the sections relied upon by mr, abraham.learned counsel further contended that the companies act makes a clear distinction between an annual general meeting and general meetings. election of directors, passing of balance sheets and such other matters can be ..... if the plaintiffs have any real grievance, the proper course for them would be to approach the various authorities prescribed for such matters under the companies act and a suit of this nature in a civil court does not lie. on these grounds the defendants prayed for a dismissal of the suit ..... right to any member of a company entitled to attend a meeting and vote to appoint another person, whether a member .....

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Sep 18 1958 (HC)

Rattan Singh and ors. Vs. Managing Director of the Moga Transport Comp ...

Court : Punjab and Haryana

Decided on : Sep-18-1958

Reported in : AIR1959P& H196

..... its capital where the existing share-holders are unwilling to purchase shares, or debentures of the company, even if the total number of its members is much below 50.14. mr. tuli, learned counsel for the respondents, drew my attention to the provisions of section 81 of the companies act dealing with further issue of capital. but that section has no application to ..... to section 3(1)(iii) of the companies act, 1956. it defines 'private company' which means a company which by its articles restricts the right to transfer its share, it any, limits the number of its members to 50, and lastly, prohibits any invitation to the public to subscribe for any snares in, or debentures of, the company,according to mr. doabia, offer of shares ..... , in the shares or debentures becoming available for subscription or purchase by persons other than those receiving the offer or invitation; or (b) otherwise as being a domestic concern of the persons making and receiving the offer or invitation.' 9. this provision corresponds to section 55(2) of the english companies act of 1948. in buckley on the companies acts, 12th edition, at page ..... a private company.15. article 7 of the articles of association of this company has been relied upon by the learned counsel for the petitioners. it runs as under:'when the directors .....

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May 07 1958 (HC)

Mohan Lal and anr. Vs. GraIn Chamber Ltd., Muzaffarnagar and ors.

Court : Allahabad

Decided on : May-07-1958

Reported in : AIR1959All276

..... the misconduct was by lawson who had controlling hand.the circumstances in our case are quite different. even if it be held that the company acted dishonestly in treating the transactions standing in the name of messrs. ram swarup shadi ram as theirs instead of treating them as transactions of the ..... in this form. what was contended before the learned single judge, was that the directors had contravened the provisions of section 91b of the indian companies act in voting on the resolution dated the 15th of february, 1950.before us, learned counsel for the appellants changed his ground and challenged, on ..... by six out of seven directors meeting in a different capacity could not possibly be held to be a decision of the board.the requirement under the english companies act was a recommendation by 'the board' and not a recommendation by 'directors'. that case, therefore, interpreted the word 'board' and not the word ..... to this resolution. a second resolution for the issue of a debenture to mr. dobbie was also ..... four directors of the company including mr. young and mr. dobhie were present. reference was made to cash advances made to the company by mr. young and mr. dobbie and a resolution was passed for the issue of a debenture in consideration thereof to mr. young who did not act or vote in relation .....

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Aug 14 1958 (HC)

Sree Rama Varaprasada Rice Mill and anr. Vs. Takurdas Topandas and ors ...

Court : Andhra Pradesh

Decided on : Aug-14-1958

Reported in : AIR1960AP155

..... of members of such class, are chargeable, and (b) provide for the composition or consolidation of duties in the case of issues, by any incorporated company or other body corporate, of debentures bonds or other marketable securities.' under section 9, the central government has issued certain notifications. in amendment of the notification issued and published in the gazette ..... india. 6. even if the schedule to the notification comprehends the areas in the hyderabad state over which the crown representative exercises the jurisdiction, after the indian independence act which came into force on 15th august, 1947, the notification must be deemed to be inoperative. the argument that the notification cannot be issued by the central government, ..... to stamp duty in respect of billsof exchange, cheques, promissory notes, bills oflading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts andin relation to any other stamp duty chargeableunder this act and falling within entry 96 in list iin the seventh schedule to the constitution, thecentral government: (b) save as aforesaid, the state ..... india have been regulated by treaties, engagements and sanads, and by various precedents and conventions, by reason of acts done and acts suffered through a long course of historic evolution. various treaties were made between the east india company and the native rulers containing covenants and stipulations as to their mutual relations. when the crown of england took .....

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Oct 06 1958 (HC)

Chunnilal Onkarmal, a Joint Hindu Family, Firm and anr. Vs. Shree Vikr ...

Court : Madhya Pradesh

Decided on : Oct-06-1958

Reported in : AIR1959MP316

..... 1950 mr. p. p. pandit, a creditor of shri vikram sugar mills ltd., submitted a petition under section 162 of the indore companies act for compulsory winding up of the company. in this petition an order for winding up was passed on 2-4-1951 and liquidators were appointed. after the commencement of the liquidation ..... is not a fit case in which the leave sought for ought to be granted. according to s, 168 of the indian companies act, 1913, winding up of a company by the court has to be taken to commence on the date of the presentation of the petition for the winding up when a ..... the question of grant of leave and to examine cases which have applied these principles.16. buckley in his work of companies act, 13th edition at page 499 while dealing with this question observes:'leave will be given to proceed with an action against third parties, to which ..... that he had commenced his action prior to winding up.it was further contended that section 100 of the indian companies act, 1913, lays down that the promoters and the directors of the company will be held liable for any misrepresentation in the prospectus whether made fraudulently or otherwise and that this liability could ..... highness the maharaja sir vikramsingh rao of kolahpur and the vikram sugar mills ltd., being the company under liquidation2. the petition is opposed by the liquidators as also by two of the creditors and debenture holders of the company namely govindram saxsaria trust and r. b. seth hira lalji.3. in order to consider .....

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Sep 06 1958 (HC)

The State Vs. the Akal Transport Company Private Ltd.

Court : Punjab and Haryana

Decided on : Sep-06-1958

Reported in : AIR1959P& H22; 1959CriLJ79

..... this kind, but he accepted the second objection and acquitted the accuted. 5. the relevant provisions of the companies act are as follows: 'section 314(1): except with the previous consent of the company accorded by a special resolution, no director of a company, no partner or relative of such a director, no firm in which such a director or relative is a ..... special resolution has been adopted by the company under section 314(1) of the companies act, nine directors of the company named in the margin were either holding office of profit under the company, or else relations of theirs were employed in the company, and therefore the said directors must be deemed to have vacated their offices as ..... state against the order of the additional district magistrate, julludur, acquitting the accused, the akal transport company private limited, which was summoned through its manager, kishori lal, in a complaint filed by the registrar of joint stock companies, punjab, under section 303(2) of the companies act, 1956. 2. the allegations in the complaint are that in spite of the fact that no ..... office or place of profit, except that of managing director, managing agent, secretaries and treasurers, manager, legal or technical adviser, banker, or trustee for the holders of debentures of the companv,-- (a) under the company; or (b) under any subsidiary of the company, unless the remuneration received from such subsidiary in respect of such office or place is paid over to the .....

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Nov 24 1958 (HC)

Gulabchand Gambhirmal Vs. Kudilal Govindram and anr.

Court : Madhya Pradesh

Decided on : Nov-24-1958

Reported in : AIR1959MP151

..... easily by a partner or could be had by anyone for the mere asking and readiness to furnish the necessary proportionate capital and to purchase the debentures of the required amount, without any more.that 'any more' in the present case is, as the learned judges of the division bench have ..... two and half annas share in the managing agency firm was a very profitable and safe investment for anyone having the necessary money to purchase the debentures of the requisite value and to furnish proportionate share of the capital.the plaintiff accepted govindram's offer the very next day after it was made ..... is a composite agreement dealing with several matters, namely, the transfer of two and half annas share to gulabchand, the purchase by the plaintiff of first debentures of the mills worth rs. 3,12,500/-, the undertaking of govindram to get a fresh agreement of partnership executed with the remaining partners of the ..... gambhirmal a share of two and half annas out of the aforesaid share of four annas'.by the next clause, the plaintiff gulabchand agreed to purchase first debentures of the indore malwa united mills ltd., 'in proportion to his share worth rs. 3,12,500/- at the rate of rs. 100/-'. the ..... part-i, page-23 of the printed paper-book) on 17th july 1935 for carrying on the business of 'acting as managing agents and selling agents of the indore malwa united mills, ltd.,' a company owning a textile mill in indore.towards the end of 1940 serious disputes arose between two groups of partners one .....

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May 02 1958 (HC)

Ram NaraIn Mathur Vs. Chief Justice and Judges of the High Court at Ch ...

Court : Punjab and Haryana

Decided on : May-02-1958

Reported in : AIR1958P& H445; 1958CriLJ1439

..... hands of the receiver and it was held that such an interference amounted to contempt. the position of a liquidator appointed by the court under the provisions of the indian companies act, 1913 is somewhat stronger than that of a mere receiver, and if the interference with the possession of the receiver constitutes contempt there is greater reason for holding that interference ..... the bank and all other incidental matters arising therefrom fell within the exclusive jurisdiction of the punjab high court subject to the provisions of section 45-c of the banking companies act. as regards pending matters their lordships considered that the order of transfer made by this court on 25th june 1954 was perfectly valid. the appeal was therefore dismissed.3. ..... debenture-holders in the circumstances of that case but the following observations of cotton, l. j. are noteworthy :--'certainly nothing has been ..... pound son and hutctuns, (1889) 42 ch d 402 (n). there the question was whether the receiver appointed by the debenture-holders under their powers should be at liberty to take possession of the company's assets notwithstanding an order for winding up of the company and appointment of an official liquidator.although the court of appeal granted the request of the .....

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