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Case Laws
Showing 141 to 160 of 577 Records
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2001 (3) TMI 927 - HIGH COURT OF KARNATAKA
Winding up - Suits stayed on winding up order ... ... ... ... ..... d of by moulding the relief suitably as follows (i)The prayer for a direction to the respondent to make payment in terms of the order dated 13-1-1993, in Application No. 11 of 1991 on the file of the Labour Court, Mysore, is rejected. (ii)The order dated 13-1-1993, in Application No. 11 of 1991, passed by the Labour Court, Mysore, is held invalid and unenforceable. (iii)Leave is granted to the applicants to proceed with Company Application No. 11 of 1991, on the file of the Labour Court, Mysore, under section 446. Application No. 11 of 1991 is restored to the file of the Labour Court, Mysore, and it is directed to proceed with the matter afresh. (iv)The date of hearing before the Labour Court, Mysore, is fixed as 18-6-2001. The respondent-company (in liquidation represented by the Official Liquidator) may appear through counsel without further notice from the Labour Court and file objections if any. The Labour Court shall endeavour to dispose of the application expeditiously.
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2001 (3) TMI 926 - HIGH COURT OF DELHI
Compromise and arrangements ... ... ... ... ..... ix)Fax Machine. According to the compromise, the petitioner ceases to have any interest in the company. Under the compromise, the respondents have been made entitled to receive shares of the company which were held by the petitioner. The petitioner is only entitled to receive the value of the shares. In case the valuation has been made wrongly, the same can be rectified so that the petitioner could be given correct value of the shares which he has agreed to transfer to the respondents. In the circumstances, therefore, there is no reason to continue the aforesaid interim orders. The interim orders dated 30-1-1995 and August 8, 1996 are hereby vacated, subject to the respondents taking out an FDR in the sum of Rs. Fifteen lakhs in the name of the Registrar of this Court and filing the same before the Registrar within seven days. In the first instance the FDR should be taken out for a minimum period of six months. The Registrar shall get the FDR renewed periodically as per need.
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2001 (3) TMI 925 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... any not furnishing bank guarantee in the amount as aforestated within the period stipulated. In that event, the company petition to be advertised in Free Press Journal, Janmabhoomi and Maharashtra Government Gazette. The petitioner to deposit a sum of Rs. 2,000 with the Prothonotary and Senior Master within a period of four weeks from the date of default. 8. On the request of the learned counsel appearing on behalf of the respondent, it is clarified that the furnishing of the bank guarantee shall be without prejudice to the rights and contention of the parties in the special civil suit before the trial Court, which is pending. The bank guarantee shall be kept alive during the pendency of the suit before the trial Court and for a period of eight weeks after the judgment and order in the suit. The learned trial Judge, it is needless to add, shall hear and dispose of the pending suit on merits uninfluenced by the observations contained in this order. 9. Certified copy expedited.
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2001 (3) TMI 924 - HIGH COURT OF DELHI
Arbitrator - Change of ... ... ... ... ..... itioner further contends that the arbitrator was to give the award within six months as per clause 24 of the agreement and this period was extendable only with the consent of both the parties and since no such period has been extended, the agreement ceases to exist. How ever, without going into the controversy as to the conduct of the arbitrator and the apprehension of the petitioner as to the impartiality of the arbitrator and without making any observation in this regard the request of the petitioner for appointment of a retired High Court judge as an arbitrator is allowed in order to avoid further controversy that may arise during the proceedings before the present arbitrator. 3. Mrs. Santosh Duggal, the Hon ble Judge of the Delhi High Court (Retired) is appointed as an arbitrator. She will fix her own fees. 4. The petitioner has agreed that he will not insist for time within which the arbitrator shall give the award. 5. The petition is allowed. IA also stands disposed of.
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2001 (3) TMI 922 - HIGH COURT OF KARNATAKA
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... claim for damages on account of the alleged breach, and not to recover a lsquo debt rsquo . 32. In the absence of a decision by a competent civil court (or Arbitrator, as the case may be) that the appellant has committed breach and has incurred a pecuniary liability, no amount can be said to be due to the Board merely on its claim that the company has committed breach and that it (the Board) has quantified the loss in terms of the contract. As the amount claimed is not a lsquo debt rsquo but damages, we hold that the petition for winding up of the company is not maintainable, even though the amount claimed is calculated in terms of the contract. The only ground urged by the Board was that the company is unable to pay its debts. No other ground is urged. 33. In the result, we allow this appeal and set aside the order dated 13-2-1997, passed in Company Petition No. 96 of 1992, admitting the petition. As a consequence Company Petition No. 96 of 1992, stands dismissed. No costs.
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2001 (3) TMI 921 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which company may be wound up ... ... ... ... ..... xclusively one of barter while, thereafter, 75 per cent of the value of the invoices was to be treated as that barter component. The court cannot rewrite the contract by converting the unutilised portion of the barter component as a debt due and payable in monetary terms. There is a bona fide defence and a dispute between the parties. The arrangement between the parties has not been fulfilled. According to the respondent, this was because of the failure of the petitioner to utilise the barter component or to place requisition for the publication of advertisement. An assessment of the merits of the individual cases in regard to who was responsible for the non-utilisation of the component would be a matter of evidence. In the circumstances, it will not be possible to hold that there is any debt due and payable by the respondent to the petitioner. 7. In the circumstances, the petition for winding up is rejected, leaving it open to the petitioner to pursue its remedies in a suit.
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2001 (3) TMI 920 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... ery of the amount due and payable under the ICD together with interest and the amount deposited by the respondent shall lie to the credit of the suit. On the request of the learned counsel for the respondent, it is clarified that all defences of the respondent, including the defence of limitation are left open to be urged in the suit. In the event of the respondent failing to deposit the aforesaid amount, the company petition shall stand admitted and be liable to be advertised. In that event, the petition to be advertised in Free Press Journal, Navshakti and Maharashtra Government Gazette. The petitioners to deposit a sum of Rs. 2,000 with the Prothonotary and Senior Master within a period of four weeks from default, towards publication charges. 9. In the event of the amount being deposited, the Prothonotary and Senior Master to invest it in any Fixed Deposit of a Nationalised Bank subject to such further orders as may be passed in the suit to be instituted by the petitioner.
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2001 (3) TMI 917 - HIGH COURT OF DELHI
Winding up of sick industrial company ... ... ... ... ..... ust be sparingly exercised and may be exercised to correct errors of jurisdiction and the like but not to upset pure findings of fact, which falls in the domain of the concerned Court, the Tribunal or forum only. (see Khimji Vidhu v. Premier High School AIR 2000 SCW 2333). Exercise of power under article 227 can be done only in cases of (i)Erroneous assumption or excess of jurisdiction. (ii)Refusal to exercise jurisdiction. (iii)Error of law apparent on the face of the records as distinguished from a mere mistake of law or error of law relating to jurisdiction. (iv)Violation of the principles of natural justice. (v)Arbitrary or capricious exercise of authority, or discretion. (vi)Arriving at a finding which is perverse or based on no material. (vii)A patent or flagrant error of procedure. (viii)Order resulting in manifest injuries. The case at hand does not suffer from any of the enumerated deficiencies to warrant interference. Writ petition is without merit and is dismissed.
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2001 (3) TMI 900 - SUPREME COURT
Appointment of Member (Technical), CLB - Held that:- Appeal dismissed. The appointment of the appellant was correctly set aside as he had been unduly favoured and the candidate selected by the Selection Committee and placed on the merit list had been deprived of appointment. On the facts of this case the contention raised on behalf of the appellant that the 2nd respondent could not challenge the appellants appointment since he (2nd respondent) had not challenged the rejection of his name by the Appointment Committee cannot be accepted. Even assuming that the 2nd respondent could have challenged the rejection of his name by the Appointment Committee he would have a cause of action to challenge the appointment of the appellant who was undisputedly placed below him in the panel drawn up by the Selection Committee.
However, as the post of the Member (Technical), CLB has remained vacant for a long time, it is absolutely necessary that this post be filled up as expeditiously as possible. Only the Report of the Selection Committee and the materials placed before it must be placed before the Appointments Committee for its consideration. The Appointments Committee must now select from amongst these names.
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2001 (3) TMI 899 - UTTAR PRADESH STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Deficiency of service ... ... ... ... ..... rs, then the Bank was at liberty to accept the mortgage of the fixed deposit receipt on behalf of one of the depositors. The Bank was within its right to do so. Thus we find that the learned District Forum was not correct in coming to the conclusion that the husband of the complainant alone was not competent enough to mortgage the fixed deposit against the loan. This finding of the learned District Forum is not based on the evidence available on record and a wrong interpretation has been given to it by the learned District Forum. 9. Thus on the basis of evidence, we come to the conclusion that Mam Chandra, husband of the complainant, was perfectly empowered to pledge the fixed deposit which was in the name of the complainant and her husband. The appeal is, therefore, liable to be allowed. ORDER The appeal is allowed and the judgment and the order of the learned District Forum is set aside and the complaint is dismissed. There will be no order as to the costs. Appeal allowed.
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2001 (3) TMI 898 - HIGH COURT OF CALCUTTA
Compromise or arrangement ... ... ... ... ..... may consider appropriate to give or make such modifications in the scheme, must be for the proper working of the compromise and/or arrangement. (p. 351) 4. Clearly, therefore, the provisions of section 392 could be invoked strictly to ensure effective working of the compromise and/or arrangement. Indeed the High Court has been conferred lsquo power of widest amplitude, to monitor and effect the purpose. It is significant that there was no allegation by the appellant that the sanctioned scheme was not properly working, or that the scheme should be set aside. The appellants have merely sought, in these proceedings, to realise an alleged debt, attempting to use the provisions of section 392 as a lever, which I am inclined to hold was futile and frivolous. 5. For those reasons I entirely agree with the findings of the hon rsquo ble judge as contained in his judgment, from which this appeal has been preferred. The appeal is dismissed. There shall however, be no order as to costs.
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2001 (3) TMI 897 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... e learned Single Judge admitting the petition for winding up. We see no reason to interfere with it. In fact, much of the discussion with regard to adjustment of the priorities is really uncalled for in the facts of the present case, for the petition has just been admitted. As to how and in what manner the question of priorities has to be dealt with in a situation of conflict between RDB Act and the provisions of sections 529 and 529A, we need express no opinion nor do we do so. The appeal is dismissed as without substance. However, their will be no order as to costs. 21. On the application of Mr. Mitra, whose client is anxious to carry the matter to the Supreme Court, we extend the stay of the advertisement by a period of six weeks from today. 22. In view of the dismissal of the appeal, nothing survives in the Notice of Motion No. 570 of 2001 which is also hereby dismissed. 23. Parties to act on an ordinary copy of the order duly authenticated by the associate of this Court.
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2001 (3) TMI 895 - HIGH COURT OF ANDHRA PRADESH
Winding up - Suits stayed on winding up order, Avoidance of certain attachment, execution, etc., in winding up
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2001 (3) TMI 874 - SUPREME COURT
Whether the check-post authority is entitled to detain the goods on the ground of under-valuation under section 29-A(2) of the Kerala General Sales Tax Act, 1963?
Held that:- Appeal dismissed. No merit in the submission that the words "to satisfy himself that there is no evasion of tax" in section 29-A of the Kerala General Sales Tax Act should be read only in the context of the words "to verify the documents required by sub-section (2) of section 29 to be in the possession of the person transporting the goods". That would be to limit the power of the officer to the verification of documents and to render the words "and to satisfy himself that there is no evasion of tax" otiose, which cannot be done.
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2001 (3) TMI 873 - SUPREME COURT
Whether coal and coal-ash (cinder) are to be treated as the same commodity or as different commodities for the purpose of taxation under the Andhra Pradesh General Sales Tax Act, 1957?
Whether coal-ash is a product of the petitioner's industrial unit and whether the sale of 'coal-ash' by the petitioner is eligible for exemption under G.O. Ms. No. 606, dated April 9, 1981?
Held that:- Appeal allowed. The coal-ash that is produced as a result of the burning of coal as fuel is a product of the appellant- industry though it might not be the principal product for which the industry was established. Even so, being a product of the industry, it is entitled to the exemption given by the said order.
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2001 (3) TMI 872 - SUPREME COURT
Charge creation - Held that:- Appeal allowed. Section 33-C creates a statutory first charge that prevails over any charge that may be in existence. Therefore, the charge thereby created in favour of the State in respect of the sales tax dues of the second respondent prevailed over the charge created in favour of the bank in respect of the loan taken by the second respondent.
There is no question of retrospectivity here, as, on the date when it was introduced, section 33-C operated in respect of all charges that were then in force and gave sales tax dues precedence over them
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2001 (3) TMI 871 - SUPREME COURT
Whether the State Legislature is competent to enact law to levy tax under entry 62 of List II of the Seventh Schedule on admission of cars/motor vehicles inside the drive-in-theatre?
Held that:- Appeal allowed. In pith and substance the levy is on the person who is entertained. Once it is found there is a nexus between the legislative competence and subject of taxation, the levy is justified and valid. We, therefore, find that the State Legislature was competent to enact sub-clause (v) of clause (i) of section 2 of the Act. We accordingly hold that the impugned levy is valid.
Thus the High Court fell in serious error in holding that sub-clause (v) of clause (i) of section 2 of the Act is ultra vires entry 62 of List II of the Seventh Schedule.
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2001 (3) TMI 858 - SUPREME COURT
Whether the Market Committee can insist that the appellants realise the market fee from their purchasers and pay it to the Market Committee?
Whether the Market Committee has to collect the market fee directly from the purchasers of cashew kernel?
Held that:- Appeal dismissed. As can be seen from the preamble, the Act is to provide for better regulation of marketing of agricultural produce. In the Act certain exemptions have been given to producer which exemptions have not been given either to importer or an exporter or a trader. These exemptions, therefore, have been given to producer because the producer is the person who produces the main agricultural produce.
The main agricultural produce, which may be a notified agricultural produce, could then be converted into various other notified agricultural produce/s by subjecting the same to a process or manufacture. It was held that the clause of the Act made it clear that only the actual grower/producer of the natural agricultural produce were to be befitted. Of course, the definitions of the terms in that Act are different. However, in our view the basic principle is the same. It applies to this case also.
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2001 (3) TMI 856 - SUPREME COURT
Whether the appellant, an assessee, is liable to pay any penal interest on the assessed tax under section 23(3) of the Kerala General Sales Tax Act, 1963 from the date when return was due though neither a return was furnished nor any tax paid on self-assessment basis?
Held that:- Appeal allowed. No doubt rule 21(7A) of the Kerala General Sales Tax Rules, 1963 casts an obligation on assessees to file a return of total turnover and taxable turnover accompanied by proof of payment of the amount of tax due within 20 days of the previous quarter but such a return was not filed by the appellant. A failure to file return of taxable turnover may render the assessee liable for any other consequences or penal action as provided by law but cannot attract the liability for payment of penal interest under sub-section (3) of section 23 of the Act on the parity of reasoning that if a return of turnover would have been filed on the due date then the tax as per return would have become due and payable on that date.
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2001 (3) TMI 842 - CEGAT, MUMBAI
Cement - Notification No. 23/89-C.E. ... ... ... ... ..... together number of mild steel items like channels, beams, plates etc. to suit the design of the structure to be erected at site by permanently fastening it to the earth. At the stage of clearance, they were not fastened to the earth, they were moveable goods and it was only at the site that they were going to be fixed to the earth. In these circumstances, we agree with the observations of the Collector of Central Excise (Appeals) that the lsquo Columns rsquo in these proceedings were goods. They were also marketable goods. Accordingly we find no ground to interfere with the order passed by Collector of Central Excise (Appeals), Bombay. As a result, the appeal is rejected. rdquo 5. emsp We find that the judgment would apply to the facts of the present case. We do not find that in producing the certificate from the Joint Director the assessees had lost the benefit of the notification. The impugned orders of the Collector (Appeals) are upheld. The Revenue appeals are dismissed.
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