Court : Supreme Court of India
..... a statutory corporation, and transferring the assets of all the private life insurance companies in india to lic. sometimes around 1970-71, it was felt that the general insurance industry was also in need of nationalisation. therefore, first the general insurance (emergency provisions) act, 1971 was passed by the parliament which provided for the taking over of the management of general insurance business. though the act received the assent of ..... transport appellate tribunal reported in air1997sc412 the court was concerned with the provisions of motor vehicle act and repealing of some of its provisions. in para 30 referring to southerland on statutory construction (3rd edition) vol.i, the court quoted the following observations:- 30 effect on vested rights under common law principles of construction and interpretation the repeal of a statute or the abrogation of a common ..... of rent or damages for such unauthorised occupation, and incidental matters specified under the act. as far as the maharashtra rent control act is concerned, this court noted in paragraph 25 of that judgment that as per the preamble of the said act, it is an act relating to five subjects, namely (i) control of rent, (ii) repairs of certain premises, (iii) eviction, (iv) encouraging the .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : AIR1962AP63
..... it is useful to refer to the title and the preamble of act ix of 1956. it is entitled 'the life insurance(emergency provisions) act, 1956.' the object of the act is for the taking over, in the public interest, of the management of life insurance business pending nationalisation thereof.(8) it is immediately plain that act ix of 1956 was to be in operation only till nationalisaion ..... these words:'in computing the period of limitation prescibed by any law for the time being in force for any suit or application against any person by an insurer in respect of any matter arising out of his controlled business, the time during which the life insurance (emergency provisions) ordinance, 1956 and the act have been in force shall be excluded.'(9) it is ..... co-operative societies. this was dismissed on 15-1-1954 for reasons which need not be narrated here. subsequently an application is alleged to have been filed before the deputy registrar for transmission of the decree to the district munsif's court, rajahmundry in february, 1957. accordingly, the deputy registrar transferred it to that court for execution.in the district ..... the controlled business or to continue or prosecute proceedings in any civil court that sec. 11 was enacted, so that the claims of the life insurance corporation may not be barred. after the passing of the life insurance corporation act, 1956 (xxxi of 1956) sec. 11 ceased to be in operation. in fact, we feel that the emergency ordinance itself stood repealed. therefore, .....Tag this Judgment!
Court : Company Law Board CLB
Reported in : (1995)84CompCas811
..... is only governed by the provisions of the unit trust of india act and its general regulations in conducting the mutual fund business.39. the next issue relates to the resolutions of the board of directors passed on the various dates refusing registration of transfers. it was argued that the ..... to the public under one or more schemes for investing in securities in accordance with these regulations".21. from the above, certain propositions emerge. a mutual fund under these regulations has to satisfy the following conditions : 22. as per regulation 3, every mutual fund shall be ..... the activities of a mutual fund and the activities of the unit trust of india as elaborated in the preamble and section 21 reveals, in abundance, a commonality of purpose, i.e., mobilisation of funds from the public and distribution of profits arising from such usage of funds to ..... act, the provisions of this act shall be in addition to and not in derogation of the provisions of any other law for the time being in force and as such the unit trust of india regulations would continue their application. besides this, he also stated that sections 33 and 35 of the said act which relate to "amendment of certain enactments" and "repeal ..... life insurance corporation of india v. d.33. it is also worth mentioning the observation of the supreme court in v. p. state electricity board v. hari shankar jain "the rule 'generalia specialibus non derogant' which means that the general provision should yield to a specific provision is .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 2009(4)BomCR774; JT2008(9)SC551; 2008(11)SCALE391; (2008)9SCC720; 2008(2)LC1155(SC); 2008(6)Supreme89
..... government company carrying on its own insurance business and that the premises let to it stood fully protected by the provisions of the rent act as they did not fall in any of the categories mentioned in section 3(1)(b) of the said rent act.7. by judgment and order dated ..... laws specified below: (a) any act or acts relating to companies in force before the indian companies act, 1866 (10 of 1866) and repealed by the act; (b) the indian companies act, 1866 (10 of 1866); (c) the indian companies act, 1882 (6 of 1882); (d) the indian companies act, 1913 (7 of 1933); (e) the registration of transferred ..... case the court is required to give contextual interpretation to the words `psus' in section 3(1)(b) and if such a interpretation is given then the position which emerges is that the words psus or any statutory corporation constitute one separate specific category and, therefore, ..... a tenancy in respect of such building or a part thereof.(b) the companies act, 1956:preamble an act to consolidate and amend the law relating to companies and certain other associations. ... section 2. definitions.- in this act, unless the context otherwise requires.- (5) 'banking company' has the same meaning ..... it also refers to the constitution of a regulatory authority, namely, insurance regulatory and development authority act, 1999.44. a similar committee on public undertakings had conducted studies on oicl and national insurance company ltd. in 2001-2002 consisting of mps from lok sabha and rajya sabha. this .....Tag this Judgment!
Court : Kolkata
Reported in : (1978)IILLJ139Cal
..... issued.18. it is to be noted that the provisions of general insurance (emergency provisions) act, 1971 continued to have operation even after the appointed day, i.e., january 1, 1973 under the general insurance business (nationalisation) act, 1972. under the provisions of section 5(1) of the 1972 act the undertaking of every existing insurer who is not an indian insurance company shall stand transferred to and vested in the central government and the central ..... insurers, under provisions of law, were continued in the transferee companies on the same terms and conditions. as a result, it is said, the petitioner was conferred statutory status in respect of his service, so that a termination in breach of the conditions of service with statutory status is amenable to the writ jurisdiction.23. the general insurance (emergency provisions) ordinance, 1971 and the general insurance (emergency provisions) act, 1971 repealing ..... been taken over by the custodian.8. on september 20, 1972 an act called the general insurance business (nationalisation) act, 1972 (act 57 of 1972) was promulgated. the preamble of the act indicates its object in following terms:an act to provide for the acquisition and transfer of shares of indian insurance companies and undertakings of other existing insurers in order to serve better the need of the economy by securing .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1982SC1126; (1982)ILLJ110SC; (1982)1SCC205; 2SCR246
..... of the provisions of the life insurance corporation act, 1956 first the life insurance corporation was constituted under the life insurance corporation act, 1956 to provide for the nationalisation of life insurance business in india by transferring all such business to the life insurance corporation of india. under section 11(1) of the act the services of the employees of insurers whose business has vested in the corporation are transferred to the ..... force. the argument is that the rules made under section 48(2)(cc) can virtually repeal the industrial disputes act and other laws to the extent they are inconsistent with these rules. repealing a law, it was submitted on the authority of in re delhi laws act air 1951 sc 332, was an essential legislative function which had been delegated to the central ..... guidance to the central government in exercising its powers under section 3. in the instant case the policy as stated in the preamble of the amendment act is that 'for securing the interests of the life insurance corporation of india and its policy-holders and to control the cost of administration, it is necessary that revision of the terms ..... the 'hurdle in the way' of the petitioner's claim based on article 19(1)(f) of the constitution, which was that the act (life insurance corporation (modification of settlement) act, 1976) was passed during the emergency, observed (at. pp. 809, 810 of air):the object of the act was, in effect, to take away the force of the judgment of the .....Tag this Judgment!
Court : Kerala
Reported in : AIR1962Ker267
..... madras state, (s) air 1957 sc 297 where certain sections of the madras prohibition act -- act x/1937 were challenged, as being void inasmuch as they are repugnant to the provisions of the indian laws with respect to the same matter namely, indian evidence act -- act 1/1872 and criminal procedure code -- act v/1898. mr. justice venkatarama ayyar observed at p. 301:'it was in this ..... be noticed is the promulgation in 1946 of [he banking companies (inspection) ordinance, 1946 -- ordinance no iv/1946. the preamble to the ordinance is to the effect that an emergency has arisen which renders it necessary to make provision to inspect the affairs of banking companies in certain circumstances. in particular, section 5 of the ordinance gave power to the ..... of banking companies by the reserve bank.section 23 placas restrictions on opening of new, and transfer of existing places of business.seetion 24 makes it obligatory on every banking company after the expiry of the 2 years from the commencement of the act to maintain any cash, gold, or unencumbered approved securities, an amount which shall not at ..... mr. t. s. krishnanimoorthy iyer, learned counsel for the petitioner, the particular provision must have been enacted by parliament by virtue of entry no. 43 in list no. i of the seventh schedule. entry 43 relates toincorporation, regulation and winding up of trading corporations including banking, insurance and financial corporations but not including co-operative societies.81. according to mr. .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1976Bom417; (1976)78BOMLR195; ILR1977Bom1146
..... . he may have required office premises consisting of an area of 2300 sp. ft. or there about, for his business till the insurance business was nationalised. admittedly since nationalisation of insurance business, be has been trying his hand at various enterprises. he was not successful. as found by the courts below, ..... , i find that the learned judge has not considered how a lease could be determined by a landlord under the provisions of the rent act. a lease of immovable property can be determined only by the lesser under the provisions of the transfer of property act. under section 111(h) of the transfer of property act a ..... attention to a very recent decision of the supreme court on the same subject, qudrat ullah v. municipal board, bareilly, : 2scr530 . the legal position emerging from some of the above mentioned decisions is summed up by krishna lyer, j. in these words at page 208 (of scc) = (at p. 398 ..... it will be now possible for me to scrutinise the true nature of the agreement in dispute. the agreement (ex. 3) has the usual preamble in which all the introductory particulars which are to be found in a lease are mentioned. but the parties are described as licensors and licensees. ..... of defendant no. 2 superficially considered this may be an attractive argument. but on a closer scrutiny of the facts and examination of the relevant law, i find that mr. chinoy is right that this will be one of the surrounding circumstances which will indicate that the case is one of lease .....Tag this Judgment!
Court : Orissa
Reported in : AIR2005Ori125
..... is that the impugned orders as well as the order dated 30-1-2001 are without jurisdiction inasmuch as under the provision of the act, 1995 the commission had no jurisdiction to pass the impugned orders relaxing ..... : 3scr75 , state of goa v. a.h. jaffar & sons, : air1995sc333 , sadhana lodh v. national insurance co. ltd., : 1scr567 , in support of this contention. he argued that when the statute itself has provided ..... account will be transferred to the general account of the gridco. the opposite party no.3, the central electricity supply of orissa limited (for short.'cesco') carries on the business of distribution and ..... there has been a violation of rules of natural justice or where the tribunal acted under a provision of law, which is ultra vires, then notwithstanding the existence of an alternative remedy, the ..... the commission has full control over generating company. he pointed out that the preamble and sections 10, 11, 17 and 21 of the act, 1995 vest sufficient regulatory powers with the commission for exercising such regulatory powers ..... enactment so repealed. he submitted that sections 57 and 58 of the act, 1995 would show that provisions of section 43a of the act, 1948 were not to be affected by the 1995, act. therefore the ..... emergency measure intended to safeguard the public interest. the commission has further observed in the order dated 30-1-2002 that, on the representation of the chief executive officer, cesco, the commission by its orders dated 7-9-2001 and 3-10-2001 .....Tag this Judgment!
Court : Mumbai
Reported in : 109CompCas18(Bom)
..... . they are, therefore, protected completely by clause (5) of article 19.' 121. the provisions of the very act, namely, the solapur spinning and weaving co. (emergency provisions) act, 1950, again came to be considered by the supreme court later in the case of dwarkadas ..... transfer of the 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). (4) the company law board while acting ..... that the supreme court had taken now a different view. they also relied upon the observations of my brother rebello j. in national insurance co. ltd. v. glaxo india ltd. (unreported judgment dated february 16, 1999, in company appeal no. 8 of 1998 in ..... the meaning which the words given naturally imply, unless where the construction of those words is, either by the preamble or by the context of the words in question, controlled or altered ; and, therefore, if any other meaning ..... takeovers ; and(b) to investigate suo motu upon its own knowledge or information, in the interest of securities business or investors interests, for any breach of the regulations.' 52. thereafter regulation 34 provides for the procedure for investigation ..... the delhi high court in the case of m.z. khan v. sebi  19 scl 253 ;  107 comp cas 141 (concerning shri vishnu cement ltd.). in that case, the 1997 regulations were under consideration and .....Tag this Judgment!