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Judgment Search Results Home > Cases Phrase: debentures companies act Year: 2000 Page 1 of about 73 results (0.039 seconds)

Dec 07 2000 (HC)

Canara Bank Vs. Arihant Industries Ltd.

Court : Punjab and Haryana

Decided on : Dec-07-2000

Reported in : [2002]110CompCas70(P& H)

..... dated 20-12-1995, does not exclude the initiation of action at the behest of the petitioners contemplated under the companies act, 1956. undoubtedly, the companies act, 1956, specifically vests a right in a debenture holder to initiate action for winding up of the company. the aforesaid statutory right has not been abrogated by the petitioners in the agreement dated 20-12-1995, nor has ..... under the companies act, 1956, cannot be abrogated by the trustee agreement. 19. i have considered the submissions addressed ..... of section 434, which authorises, inter alia, a debenture holder to initiate a petition for winding up of the company under section 433 of the companies act, 1956. it is submitted that the statutory right vested in the petitioners ..... pointed out that no action whatsoever was taken by the debenture trustee, i.e., the ifci. the failure on the part of ifci to initiate action lead to the filing of the instant petition. 18. it is submitted that the instant petition has been filed under section 434 of the companies act 1956. pointed attention has been drawn to clause (ii) .....

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Jul 27 2000 (TRI)

Bank of Baroda Vs. Securities and Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Decided on : Jul-27-2000

..... and protect the interests of shareholders and of the general investing public.30. part 111 of the companies act provides the ground rules for issue of shares and debentures and matters relating thereto. section 73 therein on the allotment of shares and debentures is the section with which we are mainly concerned in the present appeals, for the time being.31 ..... code with built in provisions to deal with defaults thereunder. proviisions of the act cannot be used to administer the provisions of the companies act. there is no linkage between section iib of the act and section 73 of the companies act. the matters relating to allotment of shares and debentures, listing of securities on stock exchanges, consequences of void issues and obligations of ..... company and its officers, etc. are compressed in section 73 of the companies act. in case an issue fails ..... prospectus has been designed in the statute itself and furnished in schedule 11 to the companies act thereby providing for disclosure of all the relevant materials to enlighten the public to make an informed decision to invest or not in the company's shares or debentures. all statements contained in the prospectus are matters permitted to be inserted by the .....

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Jun 06 2000 (TRI)

Core Health Care Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Jun-06-2000

..... to the business, legal charges for drafting agreement or memorandum and articles of association of the company, expenses on printing of ma and aa, expenses by way of fees for registering the company under the provisions of the companies act, expenses incurred for public issue of shares and debentures, etc. it does not include interest on funds borrowed for expansion and extension of existing business ..... are to be determined in accordance with the charging provisions. it was further held in para 26(iii) at p. 58 : "(iii) the term 'accrual' of income used in the companies act, as explained in the various accounting standards and as understood for the purpose of taxation laws in certain circumstances may have different meanings depending on the purpose of legislation, the ..... . sec.35d(2)(d) also clearly indicates that this provision is not applicable in relation to expenditure eligible for any allowance or deduction under any other provision of this act. the aforesaid argument ..... in the following cases : 3. pepper (inspector of taxes) vs. hart (1994) 210 itr 156 (hl) (regarding purposive interpretation).147. shri gupta also submitted that provisions of s. 210 of companies act required the board of directors to lay before the annual general body, the balance sheet and p&l a/c. sec. 211 of the said .....

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Mar 10 2000 (TRI)

iol Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Mar-10-2000

Reported in : (2003)81TTJCal525

..... providing for depreciation, renewals or diminution in the value of assets or retained by way of providing for any known liability. he further submitted that debenture redemption reserve is not a 'reserve' for the purpose of companies act.in this regard, sri mitra dealt with at length the decision of the apex court in the case of national rayon corpn. ltd. (supra) and ..... ' as provided under the companies act as the said term is not defined under the surtax act and, therefore, held that debenture redemption reserve is not a reserve for the purposes of companies act and accordingly the surtax act. the supreme court has held in the said case that any amount set apart in the ..... court in the case of rayon corpn. ltd. (supra) has considered as to whether the debenture redemption reserve is a reserve within the meaning of the companies act. the issue involved in the said case was one with respect to an assessment under the provisions of companies (profits) surtax act, 1964. in our view, the supreme court has considered the definition of the term 'reserve ..... accounts of the company to redeem the debentures must be treated as monies set apart to meet a known .....

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Jun 06 2000 (TRI)

Core Health Care Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Jun-06-2000

Reported in : (2001)70TTJ(Ahd.)490

..... to the business, legal charges for drafting agreement or memorandum and articles of association of the company, expenses on printing of ma and aa, expenses by way of fees for registering the company under the provisions of the companies act, expenses incurred for public issue of shares and debentures, etc. it does not include interest on funds borrowed for expansion and extension of existing ..... to be determined in accordance with the charging provisions. it was further held in para 26(iii) at p. 58: "(iii) the term 'accrual' of income used in the companies act, as explained in the various accounting standards and as understood for the purpose of taxation laws in certain circumstances may have different meanings depending on the purpose of legislation, the ..... business. sec.35d(2)(d) also clearly indicates that this provision is not applicable in relation to expenditure eligible for any allowance or deduction under any other provision of this act. the aforesaid argument ..... in the following cases : 3. pepper (inspector of taxes) v. hart (1994) 210 itr 156 (hl) (regarding purposive interpretation).shri gupta also submitted that provisions of section 21 of companies act required the board of directors to lay before the annual general body, the balance sheet and profit and loss account. section 211 of the said .....

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Jun 06 2000 (TRI)

Core Health Care Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Jun-06-2000

..... the business, legal charges for drafting agreement or memorandum and articles of association of the company, expenses on printing of ma and aa, expenses by way of fees for registering the company under the provisions of the companies act, expenses incurred for public issue of shares and debentures etc. it does not include interest on funds borrowed for expansion and extension of existing ..... be determined in accordance with the charging provisions. it was further held in para 26(iii) at page 58 : "(iii) the term 'accrual' of income used in the companies act, as explained in the various accounting standards and as understood for the purpose of taxation taws in certain circumstances may have different meanings depending on the purpose of legislation, the ..... business. section 35(2)(d) also clearly indicates that this provision is not applicable in relation to expenditure eligible for any allowance or deduction under any other provision of this act. the aforesaid ..... mp) ; (regarding harmonious construction) 3. pepper (inspector of taxes) v. hart [1994] 210 itr 156 (hl) (regarding purposive interpretation).shri gupta also submitted that provisions of section 210 of companies act require the board of directors to lay before the annual general body, the balance-sheet and p & l account. section 211 of the said .....

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Mar 15 2000 (HC)

Finolex Industries Ltd. Vs. Mr. Anil Ramchand Chhabria

Court : Mumbai

Decided on : Mar-15-2000

Reported in : 2000(3)BomCR644; (2000)2BOMLR336; [2008]144CompCas738(Bom); 2000(4)MhLj81

..... (4).11. transfers under the companies act were governed only by section 108. the relevant portion of section 108 before the enactment of the depositories act is as under.'108. transfer not to be registered except on production of instrument of transfer :---(1) a company shall not register a transfer of shares in, or debentures of the company, unless a proper instrument of transfer ..... companies act before the enactment of the depositories act was as follows .'111. power to refuse registration and appeal against refusal:---(1) if a company refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of or the transmission by operation of law of the right to, any shares or interest of a member in, or debentures ..... 1) in this section, unless the context otherwise requires, company means a company other than a company referred to in sub-section (14) of section 111 of this act.(2) subject to the provisions of this section, the shares or debentures and any interest therein of a company shall be freely transferable.(3) the company law board may, on an application made by a depository ..... investor or the securities exchange board of india, if the transfer of shares or debentures is in contravention of any of the provisions of the securities and exchange board of india act, 1992 (15 of 1992), or regulations made thereunder or the sick industrial companies (special provisions) act, 1985 (1 of 1986) or any other law for the time being in force .....

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Nov 29 2000 (HC)

Gujarat State Co-operative Bank Ltd. Vs. Commissioner of Income-tax

Court : Gujarat

Decided on : Nov-29-2000

Reported in : (2001)167CTR(Guj)34; [2001]250ITR229(Guj)

..... of its registration, and (c) which is classed a or b at the last audit made under s. 84, may invest its surplus funds in such shares or debentures of any company registered under the companies act, 1956 as may be approved by the registrar. 20. rule 30. restrictions on investment. - (1) the investment under r. 29 shall not at any time exceed 5 ..... per cent of the deposit liabilities or 15 per cent of the surplus fund of the bank whichever is less. (2) the investment in shares or debentures under r. 29 ..... bank, (d) in any of the securities specified in s. 20 of the indian trusts act, 1882 (ii of 1882), (e) in shares, or security bonds, or debentures, issued by any other society with limited liability, or (f) in any co-operative bank or in any banking company approved for this purpose by the registrar, and on such conditions as the registrar may ..... such ratio is prescribed. in other words, the funds in excess of the banking resources required to be maintained under the banking regulation act and allied law such an nabard act (which are applicable only to banking companies and co-operative banks) are the excess surplus funds of the co-operative banks which may be invested by the bank as per provisions of .....

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Jun 21 2000 (TRI)

ito Vs. Mehsana District Central Co-op.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Jun-21-2000

Reported in : (2004)87TTJ(Ahd.)313

..... of its registration, and (c) which is classed a or b at the last audit made under section 84, may invest its surplus funds in such shares or debentures of any company registered under the companies act, 1956, as may be approved by the registrar." sections 68, 69 and 70 relate to dividend, contribution to education fund as well m contribution to public charity ..... ), (e) in shares, or security bonds, or debentures, issued by any other society with limited liability, or (f) in any co-operative bank or in any bank ing company approved for this purpose by the registrar, and on such conditions as the registrar ..... , apart from carrying on the activities of borrowing and lending, invested moneys in government securities, development bonds, shares and debentures, etc. the investments of funds of the assessee-society are governed by sections 66 to 71 of the gujarat co-operative societies act, 1961. section 66 provides that a society earning profit, shall calculate its annual net profits by deducting from the ..... . section 71 relates to investments of funds and reads as under.(d) in any of the securities specified in section 20 of the indian trusts act, 1882 (iii of 1882 .....

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Dec 22 2000 (HC)

The Chief Controlling Revenue Authority (Stamp Act) Vs. Kamala Sugar M ...

Court : Chennai

Decided on : Dec-22-2000

Reported in : (2001)1MLJ726

..... or by transfer or by delivery. the recitals in the document show that the title deeds of immovable properties were deposited by the company with the debenture holder as security for the discharge of the loan of rs. 30,00,000. in other words, it is not possible to ..... contains several recitals which are normally found in a deed of debenture and the claim of the company is that the deed dated 29.6.1982 should be classified as debenture under article 27 of the schedule i of the indian stamp act, 1899, but the view of the revenue authorities is ..... .12.1981, a demand promissory note was executed by the managing director and two other directors of the company in favour of the debenture holder on the same date. the debenture holder who lent the money obtained the security for the said amount by way of mortgage over certain immovable ..... company or body borrowing makesover, in whole or in part, their property to trustees for the benefit of the debenture holders:provided that the debentures so issued are expressed to be issued in terms of the said mortgage deed.3. there is no definition of the expression, 'debenture' in the indian stamp act. though there is no precise definition of the expression 'debenture', the debenture ..... that it should be treated as a deed of mortgage under article 40(b) of the stamp act .....

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