Court : Allahabad
Reported in : (1992)102CTR(All)18; 192ITR229(All); 59TAXMAN206(All)
..... government', in relation to any government security, means, vide section 2(1a), the central or state government issuing the security. section 2(42c) of the income-tax act adopts this definition of the term 'security'. the marked distinction between the meaning given to the expression 'government security' in the two acts referred to above is that, while under the indian securities act, 1920, the 'government security' must be issued in respect of 'any loan contracted ..... which the promissory note relates), and to pay interest thereon at a certain rate half-yearly on certain specified dates. each of the above three forms of security is convertible by the holder into either of the other two. (vide chapter ii.)' 15. paragraph 3 of the aforesaid manual describes the chief characteristics and relative advantages of the above three forms of government ..... securities. an analysis of the provisions contained in the government securities manual, the public debt (compensation bonds) rules, 1954, the public debt (central government) rules, 1946, and those contained in .....Tag this Judgment!
Court : Himachal Pradesh
Reported in : 2006(2)ShimLC180
..... whether learned additional chief judicial magistrate sundernagar had powers to record the statement of accused for his option, for his trial, as per the requirement of under section 13(2) of the indian official secrets act or not, passed orders dated 19-10-2001 and 20-10-2001. in case, the learned acjm sundernagar has no powers to try the case, the options ..... initial stage i.e. for framing of charge. the learned c.j.m. mandi is directed to take the trial of the case on priority basis, frame the charges within 15 days, after affording proper opportunity to the accused and the prosecution and thereafter, to fix the trial, on day to day basis and finally dispose the same within 6 months ..... government in this case is the central government.9. on a question of fact, the learned advocate general very fairly and frankly conceded that in terms of section 13(1) of the 1923 act the appropriate government has not issued any notification or any order empowering specially any magistrate, or for that matter any court to try the offences punishable under the 1923 ..... act. according to the learned advocate general neither the central government nor the state government has issued any notification or any order in terms of the 1923 act empowering any court or any magistrate of any type to try the offences under this .....Tag this Judgment!
Court : Chennai
..... collector or any other revenue officer. the bank officials are not revenue officers as envisaged under article 18 of the indian stamp act. one of the foremost object of the sarfaesi act is to take possession of the securities and sell them. section 2(h) of the sarfaesi act empowers the bank to take possession of the property and sell the same. such being the statutory position, the ..... the balance sale consideration of rs.6,48,45,000/- after deducting 1% tds. on receipt of the complete sale consideration, the state bank of india issued a sale certificate under rule 9(6) of sarfaesi act, after confirming the sale, in favour of the petitioner. the said sale certificate was presented by the petitioner for registration and he paid the stamp duty ..... following questions fall for consideration- whether the petitioner is liable to pay 2% surcharge along with 5% stamp duty? 8. originally, surcharge was claimed under section 116a of the tamil nadu district municipalities act, 1920. in the said section, specific transactions were mentioned which would attract surcharge. the transaction and the instruments of conveyance mentioned therein are as follows_ 1) sale of immovable property .....Tag this Judgment!
Court : Allahabad
Reported in : AIR1961All574
..... into the question whether they can be treated as interest on government securities. section 2(a) of the indian securities act, 1920 (no. x of 1920) reads as follows:'in this act, unless there is anything repugnant in the subject or context, 'government security' means promissory notes (including treasury bills), stock-certificates, bearer bonds and all other securities issued by the central government at any time or by the government of ..... paid gradually, 2 1/2 per cent interest is paid.in other words the legal effect of the issuing of the bonds is that zamindari rights are converted into compensation and compensation into a promise to pay (through bonds). thus the scheme of the act reveals that the payment of interest is not related to the acquisition of the property but to the ..... was designed as a convenient method of measuring such damages in terms of interest. under section 28 the awarding of interest is not mandatory, but is discretionary with the court and so the claimant is not entitled to it as of right under any rule of law.'15. in our case the interest is receivable by an intermediary as of right under .....Tag this Judgment!
Court : Allahabad
Reported in : 50ITR678(All)
..... into the question whether they can be treated as interest on government securities. section 2(a) of the indian securities act, 1920 (no. x of 1920), reads as follows :'in this act, unless there is anything repugnant in the subject or context, - (a) government security means promissory notes (including treasury bills), stock-certificates, bearer bonds and all other securities issued by the central government at any time or by the government ..... of the money by the government. it has got to be conceded that the position under the act is not a normal one. ordinarily compensation has got to be paid in cash and cases are extremely rare where the government after determining the compensation converts itself by law into the position of a debtor, and relegates the intermediary to that of a ..... value of the property must be paid can govern the matter of compensation under the act. apart from it, the scheme of the act also warrants the conclusion that the rights of an intermediary in an estate after the vesting of the same in the government are converted into a right to receive money on the date of vesting or as from the ..... gradually, 2 1/2 per cent. interest is paid.in other words the legal effect of the issuing of the bonds is that the zamindari rights are converted into compensation and compensation into a promise to pay (through bonds). thus the scheme of the act reveals that the payment of interest is not related to the acquisition of the property but to the .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1980Cal292
..... be indemnified by the renewer of the note against the loss sustained. in that case it was argued that the common law indemnity could not be implied under the indian securities act, 1920 because of section 21 thereof which excluded an implied indemnity because it gave a right to demand an express indemnity and to refuse to give renewed note unless an express indemnity was ..... learned judge has not discussed in his judgment anything relating to representation or implied warranty which was pleaded in the plaint. the learned judge appears to have merely answered the issues by saying that there was both express and implied representation and warranty. that would undoubtedly lead to absurd conclusion. the learned judge has observed that he has accepted all the ..... investigation. in my opinion, the loss of the said shares was not proved through this witness.27. manindra gopal basak was called in connection with the said letter dated june 15, 1951 (ext. 'a'). the witness reported the matter to the superintendent of inspection who was the said sukumar dutta. he said that certain list was prepared for the missing shares ..... that money to the credit of his account, and when the bank clerk so took the post office order, the bank converted it;'78. it appears that the postal orders were not negotiable instruments and in that case the bank acted independently by presenting the post office orders to the post office. in that case the true owner sued and as against .....Tag this Judgment!
Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Reported in : (2005)6CompLJ64SAT
..... and in exercise of the powers conferred on me in terms of section 19 of the sebi act, 1992, read with section 11(4) and 11b of sebi act, 1992, i hereby prohibit ubs / its affiliates / agents from issuing off-shore derivative instruments with underlying indian securities against the positions held by ubs in the indian securities market for a period of one year. i also prohibit ubs / its ..... instruments. the format was further changed vide circular no.imd/cust/15/2004 dated 2/04/2004 which retained the undertaking relating to pio / nri, etc. the statement should contain information on investors / general information on offshore derivative instruments with quantity and value on odis and quantity and value on underlying indian securities. it should contain information on offshore derivative instruments with underlying as ..... various derivatives traded in indian stock exchanges. this statement shall be submitted by fii on .....Tag this Judgment!
Court : Chennai
Reported in : 145CompCas802(Mad); (2008)8MLJ468
..... have been considered ; that while allowing the company, the secured creditors like the appellants and the workmen of the company in liquidation have been denied their legitimate dues ..... the appellant indian bank had got first charge over the plant and machinery and other movables belonging to it; that the learned single judge arrived at a decision without any evidence being let in by the parties; that in this case, notice should have been issued to the secured and unsecured creditors ; that the provisions of section 536(2) of the companies act, 1956, should ..... and before the order of winding up, could be termed as void or otherwise in terms of section 536(2) of the companies act, 1956. it would be more apt and appropriate to reproduce section 536(2) of the companies act, 1956, as follows:536. avoidance of transfers, etc., after commencement of winding up.-. . .(2) in the case of a winding up by the tribunal ..... void by statute for the protection or benefit of a certain party, or class of parties, is voidable only.15. for discerning the legislative idea in employing the word 'void' in the context set out in section 536(2) of the companies act the second aspect to be noticed is that the provision itself shows that the word void is not employed peremptorily .....Tag this Judgment!
Court : Orissa
Reported in : 2006(II)OLR453
..... petitioner-detenu seeks to challenge the order of detention issued against him by the district magistrate, sambalpur on 23.12.2005 under sub-section (2) of section 3 of the national security act, 1980 directing detention of the petitioner so as to prevent him from acting in any manner prejudicial to the maintenance of ..... and there is possibility that accused will be released on bail.now therefore in exercise of powers conferred by subsection (2) of section 3 of the national security act, 1980 i do hereby direct that the said shri shankar mishra, aged about 30 years, s/o. gopal chandra mishra of sabeb ..... section (2) of section 3 of the national security act, 1980.whereas i am aware that shri shankar mishra, aged about 30 years, s/o. gopal chandra mishra of saheb bangala pada, badabazar, p.s. town, district sambalpur is now in jail custody in town police station case no. 322 dt. 16.12.2005 under section 341/323/506/307/34 ipc ..... cases mentioned in paragraphs 1, 2, 3, 5, 10, 11 and 13 of the said statement of grounds involve serious offences under the indian penal code alongwith other penal laws of the country. it is claimed in the said statement of grounds that the petitioner is involved in all ..... by the sdjm, sambalpur. after coming out of the jail shri shankar mishra there is possibility indulging in criminal and antisocial activities every time and disturbing public order. i am satisfied that with a view to prevent shri shankar mishra from acting in .....Tag this Judgment!
Court : Chennai
Reported in : (1936)70MLJ321
..... the indian divorce act was passed this question of maintenance and alimony were put together in one section and that section - section 37, provides as follows: the high court may, if it thinks fit, on any decree absolute declaring a marriage to be dissolved, or any decree of judicial separation obtained by the wife...order that the husband shall, to the satisfaction of the court, secure ..... that of the high court of allahabad reported in caston v. caston (1900) i.l.r. 22 all. 270 and of lahore in samuel v. samuel (1934) i.l.r. 15 lah. 846 (s.b.). we therefore have the position that a decree for nullity is in a sense 'nisi' if passed by a district judge that is, it must be ..... fourth clause includes the fourth paragraph and the fifth paragraph. caston v. caston (1900) i.l.r. 22 all. 270 (f.b.) and samuel v. samuel (1934) i.l.r. 15 lah. 846 (f.b.) decide that the fourth paragraph is one clause and the fifth paragraph, that is, the proviso is another clause. in my opinion, as a matter of ..... would have seen that the decree was a decree nisi. immediately they see the change, in my opinion owing to the section and owing to the fact that there is no provision to the contrary, they must follow the change. 15. quite different considerations apply of course where there is a provision to the contrary. for instance, in england the law and .....Tag this Judgment!