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Judgment Search Results Home > Cases Phrase: issue of shares companies act Page 1 of about 82,584 results (0.209 seconds)

Nov 06 2003 (TRI)

In Re: Hakeem Auto Limited

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

..... convene general meeting for approving the aforesaid preferential allotment and convened agm of shareholders on july 31, 2002, when resolution was passed under section 81(1a) of the companies act, 1956 for approving the issue of shares under the proposed preferential allotment. pursuant to the shareholders approval, the board of directors at their meeting held on october 29, 2002 allotted 7, 15,900 ..... of the company are listed for being notified on the notice board; with effect from september 09, 2002, regulation 3 ..... issues are reproduced for ready reference. nothing contained in regulations 10, 11 and 12 of these regulations shall apply to : (c) preferential allotment, made in pursuance of a resolution passed under section 81(1a) of the companies act, 1956 (1 of 1956) : (i) board resolution in respect of the proposed preferential allotment is sent to all the stock exchanges on which the shares ..... accordance with the provisions of law, 15 per cent or more but less than 75 per cent of the shares or voting rights in a company, shall acquire, either by himself or through or with persons acting in concert with him, additional shares or voting rights entitling him to exercise more than 5 per cent of the voting rights in any financial year .....

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Jun 08 2004 (TRI)

Winner Estates Pvt. Ltd. Vs. Dy. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... nature of these transactions" 8. the learned d.r. further argued that assessee disclosed amount in question in the balance sheet under the heading "share holders fund" as required by schedule vi of the companies act, 1956. the issue in dispute was further squarely covered by decision of hon'ble supreme court in the case of cit v. lucas tvs ltd. 249 itr 302 ..... to the argument of learned counsel for the assessee that there was relationship of debtor and credit relating to share application money till the shares are allotted, the learned d.r.referred to the company law act and submitted as under: "under the provisions of the companies act, 1956, issue of shares has the following stages: d) acceptance of offer by the applicants by way of filing ..... share application forms alongwith money in the instant case, stages (a) to (d) have admittedly been completed.merely because the process has not been finalised, ..... where with reference to share application money and "capital employed" under section 80j of i.t. act, their lordships observed as under: "our attention was drawn .....

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Jun 08 2004 (TRI)

Winner Estates (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)91ITD431(Delhi)

..... and nature of these transactions"' 8. the learned departmental representative further argued that assessee disclosed amount in question in the balance sheet under the heading "share holders fund" as required by schedule vi of the companies act, 1956. the issue in dispute was further squarely covered by decision of hon'ble supreme court in the case of cit v. lucas tvs ltd. (2001) 249 ..... . with reference to the argument of learned counsel for: the assessee that there was relationship of debtor and creditor relating to share application money till the shares are allotted, the learned departmental representative referred to the companies act and submitted as under : "under the provisions of the companies act, 1956, issue of shares has the following stages : (d) acceptance of offer by the applicants by way of filing ..... share application forms along with money in the instant case, stages (a) to (d) have admittedly been completed. merely because the process has not been finalised, the .....

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Mar 11 1948 (PC)

Nanalal Zaver Vs. the Bombay Life Assurance Co., Ltd.

Court : Mumbai

Reported in : AIR1949Bom36; (1948)50BOMLR413

..... on both these points and dismissed the suit. hence this appeal.4. the first question we have to consider is whether the issue of further shares by the first defendant company contravenes the provisions of section 105(c) of the indian companies act. the scheme of that section is fairly clear. it is left to the discretion of the directors to decide whether an increase ..... them. there are two questions which have been argued before us on this appeal : (1) whether the offer of shares to existing shareholders is contrary to the provisions of section 105(c) of the indian companies act, and (2) whether the new shares. were issued mala fide by the defendants simply and solely for the purpose of enabling them to retain their control over the ..... . with regard to the first question, section 105(c) of the indian companies act is in the following terms:where the directors decide to increase the capital of the company by the issue of further shares, such shares shall be offered to the members in proportion to the existing shares held by each member (irrespective of class) and such offer shall be made by notice specifying the ..... was urged by mr. amin for the appellants that the directors should have decided only to issue such a number of shares as would bear a convenient ratio to the shares already held. that argument to my mind is wholly untenable. section 105(c) of the indian companies act does not fetter the discretion of the directors with regard to the decision to increase the .....

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Sep 18 1997 (HC)

Prof. Babu Mathew and ors. Vs. Union of India (Uoi) and ors.

Court : Karnataka

Reported in : [1998]94CompCas784(Kar)

..... disinvested any part of its shareholding in favour of any of the employees of the said companies ; and the employees of ioc and ongc were offered shares by the respective companies themselves while issuing fresh shares under the companies act, 1956. therefore, the pricing formula adopted by those companies for allotment of shares to its employees cannot be compared to the method of pricing adopted in the case of ..... , 1956, and continue to be a public sector undertaking. neither the future of the company as a public sector undertaking, nor ..... shares. in law, a holder of shares in a company does not require the concurrence of the company unless the articles of association require it. therefore, prior consultation with the company is not a legal requirement.35. disinvestment of shares up to 49 per cent. will not change the character of the company. the company will still be a government company within the meaning of section 617 of the companies act .....

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Jun 23 1961 (HC)

Juvansinhji Balusinhji and ors. Vs. Balbhadrasinhji Indrasinhji and or ...

Court : Gujarat

Reported in : [1962]32CompCas1162(Guj); (1962)GLR715

..... ' no matter what its description or nomenclature was before the commencement of the companies act, 1956. even if any shares issued as deferred or founders shares or any other description of of shares prior to the commencement of the companies act, 1956, they would be considered as equity shares for the purpose of the companies act, 1956, unless they fall within the definition in section 85(1) in which event they ..... after the commencement of the companies act, 1956, which ..... which enacts that no company formed after the commencement of companies act, 1956, or issuing any share capital after such commencement, shall issue any shares other than preference shares which carry voting rights which are disproportionate to the rights attaching to the holders of other shares not being preference shares. this section in express terms prohibits the issue of equity shares with disproportionate voting rights. no issue of equity shares can, therefore, be made .....

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Jun 23 1961 (HC)

Juvansinhji Balusinhji and ors. Vs. Bhalbhadrasinhji Indrasinhji and o ...

Court : Gujarat

Reported in : (1962)0GLR715

..... the commencement of the companies act, 1956. even if any share were issued prior to the commencement of the companies act, 1956, they would be considered as equity share's for the purpose of the companies, act, 1956, unless the fall within the definition in section e85(i) in which event they would be considered as preference shares, all the share capital issued before thee commencement of the companies act, 1956 must, therefore fall ..... after the commencement of the companies act, 1956, or issuing any share capital after such commencement shall issue any share the than preference shares which carry voting right which are disproportionate to the rights attaching to the holder of other share's not being preference shares, this section in express terms prohibits the issue of equity share can therefore be made after the commencement of the companies act, 1956 which would carry voting ..... upon classification off share capital into preference share capita and quiets share capital is also to be found in regard t future issue of share capital for section 86 prescribes that the share capital of a company formed after the commencement of to companies act, 1956 or issued after such commencement shall be of two kinds only , namely preference share capital and equity share capital the scheme of the companies act, 1956, therefore is .....

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Jun 23 1961 (HC)

Juvan Sinhji Balusinhji and ors. Vs. Balbhadrasinhji Indrasinhji and o ...

Court : Gujarat

Reported in : AIR1963Guj209; (1962)3GLR715

..... ' no matter what its description or nomenclature was before the commencement of the companies act, 1956. even if any shares were issued as deferred shares or founders' shares or any other description of shares prior to the commencement of the companies act, 1956, they would be considered as equity shares for the purpose of the companies act, 1956, unless they fall within the definition in section 85(1) in which event they ..... of the companies act, 1956, or issuing any share capital after such commencement, shall issue any shares other than preference shares which carry voting rights which are disproportionate to the rights attaching to the holders of other shares not being preference shares. this section in express terms prohibits the issue of equity shares with disproportionate voting rights. no issue of equity shares can, therefore, be made after the commencement of the companies act, 1956, which ..... would be considered as preference shares. all share capital issued before the commencement of the companies act, 1956. must .....

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Jan 19 2011 (HC)

Somashekara Rao, Hiriadka and Another Vs. the Canara Land Investment L ...

Court : Karnataka

..... the existing position of equity share holding of the company. the salary and perks allowed to ..... petitioner should seek to challenge the preference shares given to educational institutions. the first respondent has complied with all the requirements of companies act relating to issue of shares. relevant notices were sent to all the shareholders. preference shares were issued with good intention for the good of the company and not with ulterior motive as alleged by the petitioners. issue of preference shares has not in any way altered ..... now allotted to respondents 8 and 9. if the preferential shares had not been issued within the time prescribed under law, the company would have deemed to have been defunct company and all the shareholders of the company including the petitioners interest would have been seriously affected. 35. the preferential share capital is defined under section 85 of the companies act which reads as under: 85. (1) preference .....

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Jan 17 1927 (FN)

Great Northern Ry. Co. Vs. Sutherland

Court : US Supreme Court

..... act, and nonenemy owners by 9. p. 273 u. s. 193 . so held where certificate and bylaws allowed transfer only by the ..... surrender of the old ones. p. 273 u. s. 192 . 5. to require a corporation so to transfer enemy-owned shares, without surrender of the old certificates, was within the war power of congress, and did not deprive of due process the corporation issuing the shares or the company acting as its registrar, they being protected by 7(e) of the trading with the enemy ..... a suit by the alien property custodian under the trading with the enemy act, requiring the great northern railway company and the central union trust company, registrar of its stock, to transfer shares of stock held by aliens, and to issue and countersign new certificates therefor in the name of certain trust companies as depositaries for the custodian. page 273 u. s. 184 mr. justice brandeis ..... old; that, when the trading with the enemy act was so amended, he became entitled to have new certificates for the shares delivered to him without the presentation or surrender of the old ones; that, having thereafter duly requested their issue and delivery to him, he was entitled to the relief prayed for. the companies admitted that, after the war and before institution of .....

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