Court : Delhi
Decided on : Dec-12-1985
Reported in : 62CompCas769(Delhi)
..... of some of the companies. the result was that parliament had to step in by incorporating in 1974 section 58a in the companies act of 1956. the object of enacting the said provision as stated in the notes on clauses was as under : ..... sector companies.' 46. in view of this authoritative pronouncement, any legislation which provides for placing a ceiling on deposits and maintenance of liquidity, must necessarily be held to be reasonable. it is in this context, i must emphasise, that there is ..... the public and which would be even strong and more stringent than the ones imposed now but because instead of adopting that methods, another mode has been evolved and which appears to be administratively more sound, it makes such restriction ..... 18% and 19% per annum for one year, 2 years and 3 years deposits respectively. the rate of interest charged to the borrowers is claimed to be a maximum of 26% per annum. the difference between the rate of interest ..... be viewed, as krishna iyer j. said, through a socially constructive, not legally captious, microscope to discover glaring unconstitutional infirmity, that when laws affecting large chunks of the community are enacted, stray misfortunes are inevitable and that social legislation, without tears, affecting vested rights is ..... would be about rs.270 crores. (i may mention here that in the petition the figure is given as rs.27 crores but during the arguments, counsel for the petitioners, mr.venugopal and mr.shanti bhushan, stated that this was by .....Tag this Judgment!