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Judgment Search Results Home > Cases Phrase: pawnee contract Court: company law board clb Page 1 of about 192 results (0.043 seconds)

Oct 26 1998 (TRI)

Estate Investment Company Vs. Siltap Chemicals Limited

Court : Company Law Board CLB

Reported in : (1999)96CompCas217

..... further submitted that a pledgee has no title to the property pledged by him.his rights are those that are under sections 173 to 176 of the contract act. he can only retain possession of the goods pledged till the amount borrowed is discharged. under the said section 176, if the pawnor makes ..... left conditionally.thus, the broker must be in possession with an authority to sell.he further submitted that the benefit under section 178 of the contract act is also available only when it is known that the broker is acting in the ordinary course of business as mercantile agent with the consent ..... given, how much amount was given and who pledged the shares. he placed reliance on the provisions of sections 173, 176 and 178 of the contract act and submitted that the shares were only pledged and the transferor continues to be the owner of the shares. in this case, as there is ..... further submitted that once the transferor has signed the blank transfer form, he cannot question the transaction. he also placed reliance on section 178a of the contract act and submitted that there are no pleadings that the petitioners had knowledge of the bad title.further, in so far as the petitioners are concerned, ..... default in payment of the money, the pawnee may bring a suit against the pawnor after giving due notice to the pawnor. he further submitted that the provisions of section 178a of the contract act are not applicable to the present case. he placed reliance on belgaum pioneer .....

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Jan 23 2009 (TRI)

Beml Ltd. Vs. Beml Midwest Ltd.

Court : Company Law Board CLB Chennai

..... chairman with his influential position and status would lead the first respondent to a laudable heights. pursuant to the said inducement, annexure no. 8 contract was sacrificed by the seventh respondent in favour of the first respondent and consequently the sum of rs. 11 crore was transferred on 2-4- ..... destructive allegation of facts forming part of the original pleadings, or any alteration of the real matter in controversy, in spite of the forward contracts dating prior to the main petition. all the documents proposed to be relied and enlisted in para 40.3 of the amendment application to establish ..... introduced into the pleadings by way of amendment, pursuant to the losses potential and accrued - reportedly suffered by the company, based on certain formal contracts booked without any proper mandate of the board of directors and attributed towards the respondents 3 to 5 and shri b. mukunda reddy, in terms ..... of the iron ore mineral from the mines of nmdc to its yard for preservation, in terms of an assignment agreement of sale and purchase contract dated 28-1-2008. the assignment agreement dated 28-1-2008 was never produced by seventh respondent. the note dated 31-3-2008 regarding ..... loans to companies under same management, as per section 370/372a, to be settled along with interest. the seventh respondent claims that it had a contract with m/s. mahalakshmi associates for supply of iron ore mineral from the mines of national mineral development corporation (nmdc) at the agreed price and .....

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Dec 17 2007 (TRI)

incable Net (Andhra) Limited, Vs. Apaksh Broadband Limited and ors.

Court : Company Law Board CLB

Reported in : (2008)142CompCas860

..... of distributorship agreement. having come to the conclusion that the clb cannot exercise its equitable jurisdiction to adjudicate the disputes raised by the petitioners, emanating from the epc contract, for the reasons elaborated elsewhere, the requirement of oral evidence for the deciding the case before me does not arise and therefore, the decision of the high ..... 397/398, which will not however encompass the grievances resulted on account of breach of the contractual obligations between the parties. even otherwise, any order terminating the epc contract without notice to apts will be against the principles of natural justice. nevertheless, it shall be seen whether the petitioners have acted diligently in claiming the discretionary reliefs ..... progress achieved towards implementation of the project, including the maintenance of online management information system in this behalf. the company shall make payments to aksh under the epc contract provided the invoices are complete in all respects. dispute resolution mechanism by way of arbitration is already in place. the main reliefs for appointment of a team of ..... andhra pradesh, disclosing the irregularities in supply of the materials by aksh. it speaks of the physical verification conducted by apts engineers, the project status etc under epc contract. the main grievances of the petitioners that aksh had dumped inferior quality cables, inflated the invoices, raised bogus invoices and failed to achieve any connectivity inspite of spending .....

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Nov 21 2003 (TRI)

Arati Dutta Gupta and ors. Vs. Unit Construction Company

Court : Company Law Board CLB

Reported in : (2005)124CompCas584

..... undertaken the work given to dg industries, in which case, there is justification for alleging diversion. on the contrary, the petitioners themselves have given details that the company was sub contracting certain electrical works to other agencies.i do not find anything wrong in a company subcontracting some work to another family company, unless it is established that the same work ..... resources of the company to carry out the sub contract work and takes the profit. as a matter of fact, as is evident from annexure p-29, the dg industries itself has been giving work orders to some other companies ..... in the earlier years have all been grouped under the heading "miscellaneous expenses" only with a view to conceal 7. the learned counsel further submitted: the respondents have been sub contracting a number of electrical works to the dg industries notwithstanding the fact that it has no facilities to carry out the works. therefore, the dg industries is utilizing all the ..... clearly indicating that the dg industries is not capable of carrying out any contract nor it has resources to do. such sub contracting has been done only with a view to enrich the dg industries at the cost of the company and its shareholders. the financial mismanagement and diversion .....

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Jan 31 2007 (TRI)

Chatterjee Petrochem Vs. Haldia Petrochemicals Ltd. and

Court : Company Law Board CLB

Reported in : (2008)143CompCas726

..... agreement with the proposition that in a proceeding under section 397, in the normal circumstances, this board cannot and will not entertain the claim for specific performance of the contracts. shri sundaram referred to the decisions to that effect in gaekwad, regal industries and vijaya dairy cases. while accepting this proposition, shri sarkar relied on the decision in ..... of specific relief act under which grant of relief is discretionary. shri sundaram vehemently contended that since the petitioners had breached many of the terms of the contracts and had/have never expressed their readiness and willingness to perform their obligations, they cannot seek any relief as sought for in the petition. he further contended that in ..... necessary to deal with the various objections raised by the respondents on the maintainability of the petition. their prime objection is that petitioners are trying to seek enforcement of private contracts through this petition which is not permissible. they further submitted that even assuming this board has the power to consider the same, yet, it cannot override the provisions ..... not only breached many of the terms of the agreements, no where in the petition they have stated that they were/are willing to discharge their obligations under the various contracts. by seeking specific performance in the present proceedings, the petitioners are trying to override the jurisdiction of the civil court which should not be permitted. further, there are .....

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Oct 29 2003 (TRI)

Shri Kishore Kundan Sippy and Shri Vs. Samrat Shipping and Transport

Court : Company Law Board CLB

Reported in : (2004)118CompCas472

..... an account for breach of fiduciary duty, the defendant denied that there was any fiduciary duty or any breach of such duty, contending that the contract was offered to him in his personal capacity because of his expertise and even otherwise the plaintiffs had suffered no damage since they would not have ..... further. therefore, when the earlier agency came to an end on 30.11.2001, unless contship had abandoned its business in india, any further agency contract envisaged by contship in india, was a corporate opportunity for ssts. therefore, when the 4^th respondent, which is a company of puris took the ..... s case, the defendants holding 3/4^th of the share capital of the company, appropriated to themselves - through a newly incorporated company - a contract which was tendered in the name of the company and the petitioner director holding 1/4^th share capital complained of breach of fiduciary responsibilities on the ..... no allegations regarding either deadlock in the affairs of the company or breach of fiduciary duties on the part. puri group in getting the contship contract to the 4^th respondent has been agitated in those suits. there is also no similarity in the reliefs sought and as such this petition ..... the question of diversion of any business of the company by puri group does not arise as the existing agreement with ssts had expired. once a contract is terminated or has expired, a director can take the same and it would not amount to breach of his fiduciary duties. the 2^nd respondent .....

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Jan 10 2007 (TRI)

Shri Subash Hastimal Lodha and Vs. Manikchand Promoters and

Court : Company Law Board CLB

Reported in : (2007)1CompLJ420

..... completed contract method on handing over the possession of premises. the copies of the balance sheet have been filed by the petitioner himself . therefore, there is appropriate disclosure and this accounting practice ..... partner in construction firm and does not have any independent activity and income. further, due to the peculiar nature of the business( construction of tenements), company cannot book income till contract is complete. in the statement of significant accounting policies attached to every balance sheet it has been specifically mentioned that income from construction of residential complex shall be recognized on ..... of mis-joinder. as shareholder, petitioner is not entitled to get documents which he is calling for. as shareholder he cannot claim access to books of accounts or other business contracts. this is not permitted under the act. further, it was argued that the letter for regd. a.d. was sent on 11.10.2001 (pg 3 of petition). after 4 .....

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Jul 15 1998 (TRI)

In Re: Otto Burlingtons Mail

Court : Company Law Board CLB

Reported in : (1999)96CompCas525

..... in section 297 it may have to be ensured that having compounded the offence the same violations have not continued further. this has been verified from the contract register of the company and has also been confirmed by the company that such default is not continued. it is also to be kept in mind as ..... or debentures of the company. the two distinctive features of this section are (a) a positive prohibition as reflected by the words "shall not enter into any contract"; and (b) the requirements of prior approval of the central government in case the paid-up share capital is not less than rs. 1 crore. these two ..... other partner in such firm or a private company of which the director is a member or director, such contracts shall not be entered into without the consent of the board of directors and in the case of a company having a paid-up share capital of ..... 1998, u. k. singal, advocate of the company, reiterated the contents of the application. section 297 of the companies act contemplates that in the case of contracts between the company and any other party who may be a director or his relative or a firm in which such director or relative is a partner or any ..... and its officers have committed default under section 297 of not getting the approval of the central government in respect of a number of contracts during the period from april, 1996, to february, 1997, as set out in the annexures to the application. as such default in respect of each such .....

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Jun 13 2001 (TRI)

V.L.S. Finance Ltd. Vs. Sunair Hotels Ltd.

Court : Company Law Board CLB

..... knowledge of the mou dated 29-8-1994 according to which the promoters were to contribute the land for the shares. only in this mou and not in the management contract dated 9-9-1994, that there is any mention about accor's contribution towards the funds for the company. therefore, without knowledge of this mou, the petitioner could not have ..... incorporated as a wholly owned subsidiary of the company in october 1993. in the beginning of 1994, aeroflot withdrew its proposal and thereafter the second respondent entered into a management contract with one accor for the hotel project and necessary approval from the government was also obtained. in october 1994, the delhi high court decided the matter in favour of the ..... second respondent and accor dated 9-9-1994. this contact has been specifically referred to in the mou dated 11-3-1955 at the top of page 2. in this contract, the second respondent has been shown as the 'owner'. having referred to both the ndmc license deed containing restrictive clauses and the management ..... contract with accor in the same mou referring the second respondent as the 'owner', the petitioner cannot now claim thai it was not aware of the transfer of the developmental rights .....

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Dec 28 2004 (TRI)

Col. (Retd.) Dalip Singh Sachar Vs. Maa Karni Coal Carriers P. Ltd.,

Court : Company Law Board CLB

Reported in : (2006)130CompCas641

..... 2.11.96 the complete information relating to the tippers was explained to the petitioner stating that the tipper account was in debit and no amount was payable till rate contract was finalised and all arrears received.he further submitted that in addition to the petitioner, others had also given tippers to the company and no one has made any complaints ..... matter was discussed in a board meeting held on 25.4.96 which the petitioner attended and it was brought to the notice of the board that since the rate contract with the principle employers had not been finalised and inspite of that the company was able to repay the installment due to the tippers, the profit and loss account for ..... running of these transport companies. some of the conditions are that a minimum of 3 retired officers/jcos are required to form a private limited company.such companies sign a contract with a co-subsidiary for carrying the coal for a period of five years which is renewable for another 5 years.ex-servicemen owner drivers are eligible to procure one .....

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