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Judgment Search Results Home > Cases Phrase: the usurious loans act 1918 Year: 2006 Page 1 of about 4 results (0.023 seconds)

Jul 17 2006 (HC)

Morgan Securities and Credits Pvt. Ltd. Vs. Morepen Laboratories Ltd. ...

Court : Delhi

Decided on : Jul-17-2006

Reported in : 2006(3)ARBLR159(Delhi); 132(2006)DLT588; 2006(91)DRJ618

..... behalf of the judgment debtors:9. mr. valmiki mehta, the learned senior counsel who appeared on behalf of the judgment debtors, submitted contrarywise. firstly, he submitted that the usurious loans act, 1918 was applicable to the present proceedings inasmuch as the word 'suit' is used in a generic sense and covers the present proceedings. secondly, he submitted that a distinction must ..... mind. the award remained merely an agreement between the parties with the arbitrator merely recording the same. thereforee, the agreement being in violation of the provisions of the usurious loans act, 1918 would be a nullity and, thereforee, would not be enforceable or executable. of course, i have already held that the present proceedings do not fall within the purview ..... of section 3 of the usurious loans act, 1918 and, thereforee, there is actually no necessity to examine this issue any further. however, since elaborate arguments were advanced, i am expressing my view for the sake of ..... annum which is much higher than the rate of interest contemplated under the usurious loans act, 1918. it may be noted that section 3 of the usurious loans act, 1918 contains a non-obstante clause but it is with regard to the usury laws repeal act, 1855 and not any other act. the arbitration and conciliation act, 1996 is also later in time and, thereforee, even if there is .....

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Jun 13 2006 (HC)

C.T. Faisal Vs. Official Liquidator and anr.

Court : Chennai

Decided on : Jun-13-2006

Reported in : AIR2006Mad15

..... kerala high court reported in : air1975ker169 state bank of travancore v. george, relied on by the learned counsel for the applicant in the context of section 3 of the usurious loans act, 1918 that any admission of a liability to pay interest at 36% per annum cannot nullify the jurisdiction of the court to reopen the transaction, to relieve the debtor of the ..... pointed out to section 3, sub-section 2(c) of the usurious loans act, 1918 and submitted that in considering the question of risk, the court shall determine the presence or absence of the security and the value thereof, the financial condition of the debtor ..... company in liquidation charging interest as annual finance charges even to a case of a simple finance-agreement, learned counsel for the applicant placed reliance on the provisions of the usurious loans act, 1918. pointing out to unfairness in the rate of interest, he submitted, that the excess interest charged is so excessive, that itself is a sufficient indication of unfairness practised. he ..... in particular, to the power of the court to reduce interest with reference to section 3 of the usurious loans act viii of 1937.26. it may be seen that while summarising the scheme of usurious loans act, 1918 and the power of the court under section 3 of the act, the supreme court, in : [1967]1scr721 s. vardachariar v. gopala menon, held as follows:4... (a) .....

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Nov 14 2006 (HC)

Rashtriya Chemicals and Fertilizers Ltd. Vs. State Bank of Patiala

Court : Delhi

Decided on : Nov-14-2006

Reported in : I(2007)BC264; [2008]81SCL461(Delhi)

..... :in this act, unless there is anything repugnant in this context:(1) ...(2) loan means a loan whether of money or any kind and includes any transaction which is, in the opinion of ..... the court in substance a loan.24. from the above definition of loan, it is clear that the touchstone ..... debt, but every debt may not be a loan liability (bombay steam navigation v. commissioner of income tax air 1965 sc 1201). it was also held that an agreement to pay the balance of consideration due by the purchaser does not in truth give rise to a loan. 23. in the usurious loans act, 1980, the term 'loan' has been defined as follows:section 2 defines ..... sica. at page 240 of the report, it was observed as follows:10. ...under section 22 of the sick industrial companies (special provisions) act, no suit or proceedings for enforcement of any guarantee in respect of any loan or advance granted to the industrial company shall lie or be proceeded with further except with the consent of the board or, as the .....

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Mar 24 2006 (TRI)

Marg Constructions Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Decided on : Mar-24-2006

Reported in : (2006)102TTJ(Chennai)997

..... correlation between the lease rental advance received from various parties by pesl and the amount remitted to assessee whereas perfect correlation exists between the remittance back of margin money and loan received by pesl. (vii) it is seen that pesl issued invoices to the alleged lessees. if it was not sale, why invoices evidencing sale by pesl were issued (viii) ..... his written statements stated 14 reasons to meet the assessee's allegations and the reasons stated by the learned departmental representative are reproduced as under: (i) assessoe claims that pesl acted as its agent in marketing of lanterns by lease, taking delivery of lanterns, its despatch, advance collection of lease rentals, etc. but there is no evidence/written agreement/mou ..... that the accounts are unreliable and their finding cannot be disturbed unless it is altogether capricious and injudicious. their lordships of the. supreme court that when a court of fact acts on material, partly relevant and partly irrelevant and arrives at its finding, such a finding is vitiated because of the use of inadmissible material and thereby an issue of law ..... and economically feasible to have cither a branch office or infrastructure for the limited purpose of executing this purchase and lease transaction. therefore, we requested photon energy systems ltd. to act on our behalf in these transactions which took place during february, march, 2001 and thereafter. we have taken a godown on lease at hyderabad to receive and store the .....

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Sep 01 2006 (TRI)

Kim Karanaj Pipodra Association Vs. Gujarat Electricity Regulatory

Court : Appellate Tribunal for Electricity APTEL

Decided on : Sep-01-2006

Reported in : (2006)LCAPTEL249

..... [removal of difficulty] (fifth) order, 2005 dated 8^th june, 2005 ("order") a person setting up a cgp is not required to obtain a license under the electricity act, 2003 ("act") for establishing, operating or maintaining a dtl if such company or person complies with the conditions set out in the order. thus till the time the person does not take ..... to go before the respondent regulatory commission to resubmit the application with necessary modifications or alterations besides submitting additional materials so that the appellants satisfy the requirements of the electricity act, 2003 and the regulations framed by the regulatory commission.11. it is needless to add that the commission may also consider request of the appellant in the proper perspective ..... needless to point out that appellants have to appoint a suitable consultant to advise them appropriately so that the appellants satisfy the requirement of the statutory provisions of the electricity act, 2003 as well as the regulations framed by the gujarat electricity regulatory commission.9. we do not propose to express ourselves on the merits of the various contentions and ..... said area to take recourse. (d) the appellant submits that right to open access of "captive users" is much wider and the respondents cannot defeat the same and objectives of act read with the national electricity policy dated 12^th february, 2005 and the electricity [removal of difficulty] (fifth) order, 2005 dated 8^th june 2005 ("order") by giving narrower .....

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Mar 07 2006 (HC)

H.M. Saraiya ors. Vs. Ajanta India Ltd. and anr.

Court : Mumbai

Decided on : Mar-07-2006

Reported in : 2006(33)PTC4(Bom)

..... fact belong to the plaintiffs. the learned counsel for the plaintiffs has relied upon two judgments of the apex court though arising out of sales tax act in which it is inter alia held that the word 'toiletry' includes both tooth paste and tooth brush. in my opinion, tooth paste and tooth ..... -versa is not appropriate and the proceedings in the suit shall be conducted as expeditiously as possible of the registrar under the trade and merchandise marks act, 1958 may decide the matter which may govern the rights of the parties. thereafter he has relied upon the judgment delivered by me in notice ..... true that we have to proceed on the basis that the goods are not of the same description for the purposes of section 10(1) of the act. but there is evidence that glucose is used in the manufacture of biscuits. that would establish a trade connection between the two commodities, namely, glucose ..... of clocks, wrist watches, time pieces under class 14 of the schedule to the trade and merchandise marks act, 1958.5. on 28.12.1978 the bombay brush co. pvt. ltd., assigned the said trade mark 'ajanta' registered under class 21 to r.s. ..... word mark 'ajanta' in respect of non-medicated toiletry preparations, cosmetics and perfumes falling in class 3 of the schedule to the trade and merchandise marks act, 1958.4. in the year 1971 a company known as ajanta transistor clock co., being the 2nd defendant herein conceived a trade mark ajanta in respect .....

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May 24 2006 (FN)

Oxfordshire County Council (Appellants) Vs. Oxford City Council and An ...

Court : House of Lords

Decided on : May-24-2006

..... now satisfies the definition. that makes it registrable. but, because the register is conclusive, it does not become a village green until it has been registered. the act was a commons registration act, not an act to change the substantive law of commons and village greens, although, as carnwath lj pointed out, the effect of the conclusive presumption in section 10, read with ..... the local inhabitants do not thereby obtain any rights of recreation over the land. the obtaining of these rights, it was contended, was intended by parliament when enacting the 1965 act to await further legislation which would confer the requisite rights, legislation that is still being awaited. if these contentions are right, the registration of the trap grounds as a ..... was used for the purposes of public recreation, it was necessary to make an appropriation order, confirmed by the secretary of state for the environment, under section 73 of that act. this order, the london borough of barnet (sanders lane housing area) appropriation order 1970, provided that other land should be provided in exchange and that the appropriated land should ..... the need for the users to be predominantly from the local community, defined by reference to a recognised ecclesiastical parish or local government area, as a "loophole" in the 1965 act which "allows greens to be destroyed" (hansard (hl debates) 16 october 2000, col 865). the government was sympathetic and introduced a suitable amendment which was adopted at the report .....

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Nov 24 2006 (SC)

Hotel and Restaurant Assocn. and anr. Vs. Star India Pvt. Ltd. and ors ...

Court : Supreme Court of India

Decided on : Nov-24-2006

Reported in : AIR2007SC1168; (2007)1CompLJ46(SC); 2006(12)SCALE543; 2007[5]STR161

..... and consumers and does not fix different tariffs, the question that a category of users being commercial users/ subscribers being identified so as to exclude the applicability of trai act does not and cannot arise. the tariff orders of 2004 did not define the words 'cable subscribers' and, thus, no distinction was expressly provided between ordinary cable consumer ..... obtain telecommunication services, tdsat committed a serious error in opining that the same would not apply to commercial consumers.(iii) tdsat having regard to the scheme of the act and the orders made thereunder committed a manifest error in holding that the applications filed by appellants were not maintainable.11. counsel appearing on behalf of broadcasters, on ..... telecom disputes settlement and appellate tribunal (tdsat) were constituted.'service provider' and 'telecommunication service' have been defined in sections 2(1)(j) and 2(1)(k) of the trai act in the following terms:(j) 'service provider' means the government as a service provider and includes a licensee;(k) 'telecommunication service' means service of any description (including electronic mail ..... in the country and for matters connected therewith or incidental thereto. 'cable operator', 'cable service' and 'cable television network' as defined in section 2 of the 1995 act read as under:(aa) 'cable operator' means any person who provides cable service through a cable b1 television network or otherwise controls or is responsible for the management and .....

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May 26 2006 (TRI)

Siel Limited Vs. the Punjab State Electricity

Court : Appellate Tribunal for Electricity APTEL

Decided on : May-26-2006

Reported in : (2006)LCAPTEL931

..... subsidy is to be paid to the board. the state appears to be adjusting subsidy against the interest allegedly due from the board on account of government loans which is not permissible, as the act provides for actual payment as a statutory obligation. factually, subsidy has not been paid in cash and has merely been adjusted not against the principal but against ..... board. they have to be taken into consideration for fixation of tariff. the issue of rsd cost and loan and liabilities are in reality issues concerning tariff and not merely issue of investment etc.73. according to section 61(a) of the act of 2003 the commission for determination of tariff is also to be guided by the principles and methodologies specified ..... to the board or is still outstanding and the matters of allocation of rsd cost, rate of interests on loans etc., the commission will never be able to work out tariff in accordance with the parameters laid down in section 61 of the act, rather it will be a mute spectator to the arbitrary stand of the government this has happened in ..... it is not the function of the commission to go into the questions of rsd costs, loans/ liabilities of the board forgetting that these are matters relating to capital investment and over burden on the finances of board. he referred to section 61 of the act of 2003 to submit that the commission does not have any power to frame regulations in .....

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Apr 24 2006 (HC)

Suo Motu Vs. State of Gujarat and 31 ors.

Court : Gujarat

Decided on : Apr-24-2006

Reported in : II(2007)ACC638; (2006)3GLR1960

..... children is of a paramount interest. simultaneously the government may also explore the possibility of giving some concession to such vehicles for converting them in the taxis, making loans available for purchasing cng vehicles on easy instalments, etc.it is also necessary that these vehicles should be registered as a special category with the regional transport office and ..... or by hired vehicles. number of transport buses, regularly operate in city by ahmedabad municipal corporation not only within the city limits but within larger area covered under development act. approximately 50,000 autorickshaws are operating providing quick transport service. transport buses are operated by private transporters from various parts in the city. over and above this, state ..... the highways are having reflectors so that at night such vehicles are noticed by drivers of other vehicles. they shall also see that the provisions with regard to the act and rules made thereunder with regard to parking lights and reflectors are strictly enforced. they shall continuously monitor and ensure that the vehicles have proper reflectors and/or ..... constitute appropriate force for the enforcement of these provisions. in other words, the government has power to create machinery for the implementation of the provisions of the m v act and the rules for the aforesaid purposes. the government is also, under the constitution, required to shoulder the responsibility to safeguard the public interest. thus, the government has .....

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