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Judgment Search Results Home > Cases Phrase: indian partnership act Court: company law board clb Year: 1999 Page 1 of about 4 results (0.059 seconds)

Jul 15 1999 (TRI)

Atmaram Modi Vs. Ecl Agrotech Ltd. and ors.

Court : Company Law Board CLB

Decided on : Jul-15-1999

Reported in : (1999)98CompCas463

..... that there has been a failure of mutual trust and confidence brought about by the acts of the respondents, then such acts would justify winding up of the company on just and equitable grounds as in a case of a partnership in terms of section 45(g) of the indian partnership act. he further submitted, that even though there are thirty-one shareholders, as a group ..... have been sought including for a declaration that the first petitioner continues as a director of the company and that the company is a quasi-partnership, restraining the respondents from committing any act in breach of the partnership principles in the conduct of the affairs of the company, for directions to the respondents to purchase the shares held by the petitioners or in ..... ] 33 cla 393 (clb), we held, in the facts of that case in which it was established that the company was in the guise of a partnership, removal of the petitioner as a director was an act of oppression. in the same way in naresh trehan v. hymatic agro equipments p. ltd. [1999] 97 comp cas 561 (clb) in view of the ..... the petitioner is that he was wrongly/illegally removed from the position of a director of the company and that such removal is an act of oppression in view of the company being in the nature of a partnership. in addition to this main grievance, the petitioner has also alleged siphoning off of funds, etc., by the respondents. on the basis of .....

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Dec 16 1999 (TRI)

Bhadresh Kantilal Shah Vs. Magotteaux International and

Court : Company Law Board CLB

Decided on : Dec-16-1999

Reported in : (2002)111CompCas220

..... on the fortunes of the company. in other words, he contended that the conduct of the respondents is against the spirit of the partnership principles under which the company was envisaged and incorporated. he submitted that unilateral enforcement of the terms of the agreement has resulted in ..... 51 comp cas 743 wherein the supreme court has approved the proposition as contained in lindley on partnership that (page 779): "the utmost good faith is due from every member of a partnership towards every other member; and if any dispute arises between partners touching on any transaction by which ..... court taking this view, stayed the proceedings under section 3 of the foreign awards (recognition and enforcement) act, 1961, pending the arbitration proceedings. for the same proposition he relied on svenska handelsbanken v. indian charge chrome ltd. [1994] 79 comp cas 589 ; [1994] 2 scc 155 wherein at para. ..... 49 per cent, shares in aia magotteaux ltd. ("the company"), has filed this petition under section 397/402 and section 403 of the companies act, 1956 ("the act"), alleging oppression in the affairs of the company. along with the petition, he also filed c. a. no. 237 of 1999 seeking certain ..... .5. shri diwan, initiating his arguments, submitted that the proceedings under section 397/398, are no exception to the provisions of the arbitration act. as long as the disputes/allegations raised in the petition arise out of or in connection with, an agreement containing an arbitration clause, then .....

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Dec 16 1999 (TRI)

S. James Fredrick and anr. Vs. Mrs. Minnie R. Fredrick and ors.

Court : Company Law Board CLB

Decided on : Dec-16-1999

Reported in : (2000)101CompCas294

..... legality or otherwise of an action which is normally examined. the prime concern could be considered to be an act of oppression. it is on record that the company took over the partnership business and the first petitioner and the first respondent incorporated this company. both were the original directors. later, ..... per cent. are also held by various other entities owned by the petitioners group. both the companies are family companies in the guise of partnership firms. the second respondent, with a view to take over the control of the company, first engineered a letter to be written to the ..... 20 per cent. shares in the company. this company was originally promoted by the first petitioner and the first respondent to take over a partnership firm consisting of both of them as partners. both of them were the first directors of the company not liable to retire by rotation. ..... the second respondent as the managing director, the petitioner filed a criminal case against the second respondent under sections 205, 406 and 500 of the indian penal code and the matter is pending before the metropolitan magistrate. he referred to v.g. balasundaram v. new theatres carnatic talkies pvt.ltd. ..... the petitioners and two of the respondents. any disturbance in the board resulting in marginalisation of one group has to be considered as an act of oppression in a family company like the respondent-company. therefore, irrespective of the fact whether the extraordinary general meeting was properly convened and .....

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Oct 29 1999 (TRI)

Dr. Kamal K. Dutta and anr. Vs. Ruby General Hospital Ltd. and

Court : Company Law Board CLB

Decided on : Oct-29-1999

Reported in : (2000)2CompLJ289

..... agitated in a section 397/398 petition. while, as a proposition, it is so in normal circumstances, yet, in cases of family companies or companies in the nature of partnership, depending on the facts of the case, directorial complaints have been adjudicated by us in section 397/398 proceedings. in the present case, the petition is a composite petition wherein ..... is mentioned. in the abridged project report enclosed with the application, it is mentioned that the petitioner was the principal promoter, and the other promoter being the respondent, a resident indian. under 'means of finance', it is mentioned that nri investment would be rs. 800 lakh comprising of rs. 400 lakh as equity and rs. 400 lakh as preference shares ..... . therefore, he submitted that the stand of the respondent that the equipments were unusable does not stand to scrutiny. he further pointed out to annexure 'w' wherein both indian as well as foreign consultants have given certificates about the worthiness of the equipments. he further stated that these equipments are sensitive in nature requiring constant care and maintenance. now ..... as the petitioner), dr. kamal k. dutta, a medical doctor by profession and a nonresident indian ('the nri'), claiming himself as the chief promoter of ruby general hospital, calcutta, has filed this petition under section 397/398 of the companies act, 1956 ('the act'), alleging various acts of oppression and mismanagement in the affairs of the company. this company was incorporated in 1991 .....

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