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Case Laws
Showing 121 to 140 of 555 Records
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2001 (9) TMI 1066 - HIGH COURT OF GUJARAT
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... r attached to this court is appointed as the official liquidator of the respondent-company. 12. In view of the above, the petition deserves to be granted. I therefore pass the following order The petition is granted. The respondent-company, Fleetweld (India) Ltd. 42/43, Tapovan Society, Nizampura, Vadodara, is hereby ordered to be wound up. The official liquidator attached to this court is appointed as the official liquidator and he shall take possession of all the assets of the respondent-company with all the powers under the provisions of the Indian Companies Act, 1956. No order as to costs. 13. Mr. R.N. Shah, learned counsel for the respondent-company, prays for staying the operation of this order to enable the respondent-company to prefer the appeal against this order. Mrs. M.A. Shah, counsel for the petitioner and Mr. B.G. Jani, counsel for Bombay Mercantile Co-operative Bank Ltd., object to the said prayer. The request for staying the operation of the order is rejected.
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2001 (9) TMI 1065 - SUPREME COURT
Special Court - Jurisdiction, powers, authority and procedure of, in civil matters - Held that:- As informed that 25 per cent which was directed to be paid by this Court on 20th November, 2000, amounting to Rs. 32,64,142.70 p. has since been paid to the Custodian. In this way what has been paid in respect of the wheel loaders by Apex Engineering is Rs. 56.21 lakhs plus Rs. 32.64,142.70p. Thus having regard to the special facts of this case and keeping in view the letter of 7th May, 1992, complaining about the quality of the wheel loaders which were stated to be having design defects it will be in the interest of justice that the decree of the Special Court is modified and the amount of Rs. 32,64,142.70p paid under orders of this Court should be regarded as full and final payment due from Apex Engineering to Fairgrowth. In addition thereto, Fairgrowth will transfer title of the wheel loaders to Apex Engineering on Apex Engineering paying the contractual price of Re. 1.
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2001 (9) TMI 1064 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... mind that the petitioners want to be coercive and oppressive against the respondent-company with ulterior motives to pressurise the company to surrender to the dictates of the petitioners. The petitioners have also unlawfully taken away the property of the respondent-company worth Rs. 8 lakhs and have kept the same with it. Such a conduct of the petitioner-company has to be seriously viewed and deprecated. On top of everything the petitioners want this Court to pass an order of winding up of the respondent-company without any further material and evidence in respect of the financial position of the company. I have no doubt in my mind that the petitioners have abused the process of the law and the Court by filing this petition though the arbitration proceedings were in progress. 7. In these circumstances the company petition deserves to be dismissed and the same is dismissed with costs which are quantified as Rs. 15,000 to be paid by the petitioners to the respondent-company.
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2001 (9) TMI 1063 - CEGAT, MUMBAI
EXIM Policy - DEPB Scheme - Demand - Customs - Limitation ... ... ... ... ..... indings of the adjudicating authority. 5. emsp On hearing both the sides, we see force in the submission of the appellants that the demand is barred by limitation. The demand for the period July 1989 to October, 1990 has been raised by the show cause notice dated 8-8-1994. The notice only makes a bald allegation that the appellants have suppressed the facts without bringing out as to what facts were suppressed by the importers. The Commissioner has also not dealt with the defence that the goods were cleared only after the order under Sec. 47 was passed. Neither the notice nor the order give any details as to when it came to the knowledge of the department that the six consignments have been sold by the appellants to the non existing firms. This information is absolutely vital for invoking the extended period of limitation. In these circumstances, we agree with the appellants rsquo counsel that the demand is time barred and accordingly set aside the order and allow the appeal.
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2001 (9) TMI 1062 - CEGAT, NEW DELHI
Modvat/Cenvat - Modvat on capital goods ... ... ... ... ..... in the factory of the manufacturers as capital goods and thus qualify for availing Modvat credit. The goods enumerated in clause (c) need not be used for producing the final product or used in the process of any goods for the manufacture of final product or used for bringing about any change in any substance for the manufacture of final product and the only requirement is that the same should be used in the factory of the manufacturer. Thus, it can be seen that the language used in the explanation is very liberal. rdquo 5. emsp In the present case, the Commissioner (Appeals) in the impugned order gave a finding of fact that the goods, in question, are used in production or processing of final product. This finding of fact is not controverted by the revenue in the present appeal. As the goods, in question, are parts of plant, machine and machinery, used in the manufacture of final product, I find no infirmity in the impugned order. The appeal, filed by the revenue is rejected.
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2001 (9) TMI 1061 - CEGAT, NEW DELHI
Cenvat/Modvat - Modvat on capital goods ... ... ... ... ..... o Capital goods rsquo . The stand of the Revenue was not as has been projected now by Mr. Rohtagi. In this view, the question of directing remand of these matters for fresh decision by the Tribunal does not arise. On the facts and circumstances of these cases, therefore, the stand that the items in question are not used for manufacture of final product cannot be accepted for the reasons aforesaid. 7. emsp We find no substance in the appeals of the Revenue. The same are accordingly dismissed. The special leave petitions are also disposed of accordingly. Parties are left to bear their own cost rdquo . 7. emsp On perusal of the above paragraphs of various decisions, I note that the items on which the authorities below had denied Modvat credit as capital goods are squarely covered by the above decisions. Following the ratio of the above decisions, I allow the four appeals of the appellant. Consequential relief, if any, shall be admissible to the appellants in accordance with law.
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2001 (9) TMI 1058 - CEGAT, NEW DELHI
Penalty - Afterthought ... ... ... ... ..... recorded in detail, the reasons for holding both the present appellants guilty under Section 112(b) of the Customs Act. Therefore, we do not find any ground to interfere with his findings. That being so, we uphold the impugned order holding both the appellants guilty under Section 112 of the Customs Act. 10. emsp However, keeping in view the facts and circumstances and the fact that the goods had been absolutely confiscated, some reduction in the penalty amount imposed on Rajesh Kumar Bubna, appellant is required to be made. We accordingly reduce the penalty from Rs. 1,00,000/- imposed on him by the Commissioner, to Rs. 50,000/-. However, the penalty of Rs. 50,000/- imposed on Raj Mangal Kunwar by the Commissioner, in our view, is quite reasonable, just and proper and as such, the same is maintained. Except for modification in penalty amount of Rajesh Kumar Bubna, Appellant No. 1, the impugned order of the Commissioner is upheld and appeals of the appellants stand dismissed.
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2001 (9) TMI 1055 - HIGH COURT OF BOMBAY
Transfer of shares ... ... ... ... ..... be proceeded with till 31-12-2001. 188. Mr. Doctor, appearing on behalf of the appellants, submitted that a similar interim order may be passed in regard to proceedings pending before the SEBI. We are informed that the SEBI has concluded hearing the parties but no order has been passed. The parties are not agreeing on the question of stay of proceedings before the SEBI. There is also considerable dispute as to whether any interim order had been passed in regard to proceedings pending before the SEBI. In these circumstances, we direct that if there was any interim order operating on the proceeding pending before the SEBI during the pendency of the appeals, the same shall continue to operate upto 31-12-2001. If no such interim order in fact operated during the pendency of the appeals, this order should not be construed as a fresh order of stay, staying the proceeding before the SEBI. 189. Parties to act on a copy of this order duly authenticated by the Associate of this Court.
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2001 (9) TMI 1054 - HIGH COURT OF BOMBAY
Circumstances in which a company may be wound up ... ... ... ... ..... ecovery proceedings under section 101 of the Maharashtra Co-operative Societies Act the company petition under section 439 of the Companies Act cannot be maintained. In these circumstances the petitioner-bank has made out a good case for admission of the petition. The petition is therefore admitted and fixed for hearing on January 10, 2002, The petitioners to advertise the admission of the petition in Free Press Journal, Navshakti and Maharashtra Gazette. The petitioners to deposit a sum of Rs. 2000 with the Prothonotary and Senior Master within a period of four weeks from today. All concerned to act on a copy of this order duly authenticated by the Company Registrar. In view of the findings recorded by me it would be in the interest of justice to restrain the company from dealing with the assets of the company in any manner subject to the rights of the secured creditors. Shri R. C. Shah the learned advocate for company prays for stay of the advertisement. Prayer is rejected.
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2001 (9) TMI 1053 - HIGH COURT OF BOMBAY
Winding up - Circumstances in which a company may be wound up, Oppression and mismanagement ... ... ... ... ..... or is seriously disputed and the Division Bench ultimately concluded that the termination of directorship would not entitle such person to ask for winding up on just and equitable grounds inasmuch as there is an appropriate remedy by way of company suit which can give him full relief if such action had been taken by the company on inadequate ground. The Division Bench found that if a Director even if illegally terminated cannot bring his grievance as to termination to winding up the company for that single and isolated act, even if it was doing good business and even if the Director could obtain each and every adequate relief in a suit in a court. It would be open to the petitioner to approach the company law board for appropriate reliefs under sections 397, 398 read with section 402. 9. Considering all the facts and circumstances I do not find any substance in the petition deserving admission. The petition, therefore, is dismissed with costs which is quantified at Rs. 5,000.
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2001 (9) TMI 1050 - HIGH COURT OF GUJARAT
Winding up - Appeals from order ... ... ... ... ..... winding up petition. As and when the matter is heard on merits, the learned Company Judge will be at liberty to decide the matter in accordance with law without being hampered by any observations made by us. 27. In view of the above discussion, we set aside the judgment and order dated 24-4-2001 passed by the learned Company Judge in Company Application No. 127 of 2001. We allow the said company application and direct the respondent-company to give the appellant inspection of the following documents by 30-10-2001. (a)Letter of credit opened in favour of LGV. (b)Proof of receipts of goods in India, i.e., invoices, bills of lading, and bills of entry. (c)Extracts of books of account of the company showing the amounts paid to and yet to be paid to the LGV. 28. The appeal is, accordingly, allowed to the aforesaid extent with no order as to costs. 29. Since the appeal is disposed of, there shall be no order on the civil application and the same is also disposed of. Appeal allowed.
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2001 (9) TMI 1049 - HIGH COURT OF DELHI
Inquiry into working of Sick Company ... ... ... ... ..... ighlighted by the respondent cannot be lost sight of. It is an accepted position that the matter is under consideration for nearly a decade. In the circumstances, we direct the BIFR to consider acceptability or otherwise of the purported information as conveyed by the letter dated 10-2-1997 and subsequent relevant correspondences, if any. The exercise shall be undertaken by the BIFR within a month from today to decide whether action under section 16(1)(b) is called for. We make it clear that we have not expressed any opinion on the merits of the case. If any further information or material is to be placed by the petitioner let it be done by appearance, without any further notice, before the BIFR on 12-9-2001, so that our direction for completion of the exercise within a month can be worked out. As a consequence of this direction, the order of the AAIFR and the communication dated 30-6-1998 by the Under Secretary of BIFR become inoperative. Petition is accordingly disposed of.
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2001 (9) TMI 1048 - HIGH COURT OF HIMACHAL PRADESH
Winding up - Appointment and powers of provisional liquidator ... ... ... ... ..... o appoint a provisional liquidator without issuance of notice to the respondent-company to protect and preserve the assets of the company pending the orders of winding up in the larger public interest particularly in the interest of majority of the depositors of the respondent-company and also for the reasons that the assets of the respondent-company are not transferred, alienated or otherwise dealt with save and except in the interest of the depositors. 10. I, accordingly allow this application and appoint the official liquidator, attached to this court, with all such powers as provisional liquidator of the respondent-company with a direction to immediately take charge of the company rsquo s property, assets, books of account and other relevant papers and documents. The application is disposed of. Company Application No. 10 of 2001 11. In view of the order passed in Company Application No. 29 of 2001, this application does not survive and the same is accordingly disposed of.
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2001 (9) TMI 1047 - SUPREME COURT
Whether an entity which seeks to make ‘version recording’ or ‘cover versions of an earlier sound recording’ requires the consent of the owner of the copyright?
Whether the making of version recordings by the respondent No. 1 amounts to an infringement of the appellant’s sound recording copyright?
Held that:- Facts alleged in the plaint and there is no support to these aspects of the matter. To attract the provisions of section 52(1)(j) or to fall outside the scope of section 2(m) it is necessary to plead and establish these aspects of the case as contended for the respondent No. 1. Before we examine the tenability of the contentions raised, we think it necessary that the parties shall lay factual foundation in the pleadings. If, as contended for the respondent No. 1, these aspects bring out the true controversy between the parties and there are no pleadings to that effect in either form or content, to proceed to grant any temporary injunction or to decide the matter will be hazardous. Therefore, we set aside the order made by the High Court affirming the order of the Trial Court granting temporary injunction. It is open to the parties to raise appropriate pleadings by amendments or otherwise. We also make it clear that it is open to the parties to seek appropriate interim orders after amendment of pleadings.
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2001 (9) TMI 1037 - CEGAT, MUMBAI
... ...
... ... ..... ioner. On the instruction of the Bench, the case record was obtained. The record maintained by the Commissioner indicated that such admission was made. Shri Kantawala, thereafter, submits that the show cause notice having labelled M/s. Pinnacle Exports Pvt. Ltd. as the importers, duty could not be demanded from the present appellants who were admittedly not the importers. We find this submission to be valid. His action of confirming duty on the licence holders who are not the importers is wrong in law. The proceedings do not show whether any reply was filed by M/s. Pinnacle Exports Pvt. Ltd. nor any discussion as to the requirement of the importers to have discharged the burden of duty. In view of this very infirmity in the impugned order, we allow this appeal and remand the case back to the jurisdictional Commissioner, who shall once again hear the concerned persons viz. the noticees to the show cause notice and pass appropriate orders keeping in mind our observations above.
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2001 (9) TMI 1034 - CEGAT, NEW DELHI
Modvat/Cenvat - Modvat on capital goods ... ... ... ... ..... (Appeals) in para 3 has upheld the findings of the adjudicating authority and has inter alia held that the adjudicating authority has correctly drawn and held that the electric furnace was an eligible capital goods even prior to 16-3-95 as it was covered under the definition of capital goods even prior to that date. Besides, the date of the Notification making the goods specifically eligible for Modvat credit as given in the Notification is not relevant because the Notification itself is clarificatory in nature. 3. emsp Learned Advocate appearing on behalf of the respondents has drawn my attention to the decision of the Apex Court in the case of Jawahar Mills Ltd. reported in 2001 (132) E.L.T. page 3 (S.C.) wherein the Hon rsquo ble Apex Court has inter alia held that if the inputs are essential for the final product, they would be eligible for Modvat credit. 4. emsp Applying the ratio of the decision of the Apex Court in Jawahar Mills, the appeal of the Revenue is dismissed.
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2001 (9) TMI 1033 - CEGAT, CHENNAI
Modvat/Cenvat - Reversal of credit availed on actual basis on indigenous inputs ... ... ... ... ..... h verification of the records and any such report which has been taken into consideration by the Commissioner before confirming this demand. We, therefore, feel that the matter has to be re-looked into by the Commissioner after obtaining the report of the Cost Accountant nominated by the Chief Commissioner under Section 14A of CE Act, 1944. Since the contention of the assessee that they had reversed the Modvat credit in full on the indigenous input and since no Modvat credit was taken as they had not paid any CVD, there is no question of reversing of any CVD on the imported material. In view of the above submission and the factual position, we remand the case back to the original authority by way of de novo consideration after observing the circular of the Board and after obtaining the report of the Cost Accountant so nominated by the Chief Commissioner of Customs and Central Excise under Section 14A of CE, Act, 1944. The appeal succeeds by way of remand. Ordered accordingly.
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2001 (9) TMI 1032 - CEGAT, MUMBAI
Modvat/Cenvat - Transitional credit ... ... ... ... ..... ground in the appeal was that at the time of filing of the declaration Chapter 48 was not covered by the Modvat scheme. Collector (Appeals) allowed the appeal of the Revenue. Hence this appeal by the assessee. 3. emsp I have heard the learned DR and perused the records. 4. emsp There is no dispute that the final product has been declared under Rule 57G. It is also not in dispute that the classification of the product came to be decided by the Tribunal under Chapter 48 only in 1989. Hence, the question of filing declaration for the final product in 1987 showing the classification of the same under Chapter 48 does not arise. There is also no dispute that the specified product was covered under Chapter 39 at the relevant time. Therefore, there is no reason for denial of transitional Modvat credit under Rule 57H. 5. emsp Accordingly, I set aside the impugned order of denial of Modvat credit and allow the appeal with consequential relief, if any, due to the appellants as per law.
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2001 (9) TMI 1031 - CEGAT, NEW DELHI
Modvat/Cenvat - Modvat on input - Modvat on capital goods ... ... ... ... ..... and ramming mass. I also note that caustic soda is used for purpose of cleaning of the wires since caustic soda is used for cleaning, it can be termed as used in the process of manufacture of wires which is the finished product in the present case. I agree with the contention of the ld. Counsel for the appellant that wires, cables, electrical panels etc. are specifically covered as capital goods as held by the Apex Court in the case of Jawahar Mills Ltd. (supra). 7. emsp In so far as S.S. Castings, S.S. Wires and Indwool, fibre blankets are concerned, I have perused the declaration filed. I note that these items are used in the process of manufacture of wires, therefore, in terms of the Explanation under Rule 57Q, they will be admissible for the benefit of Modvat credit as capital goods. Since admissibility of Modvat credit on the strength of original invoice was not pressed before me, I refrain from passing any order on this issue. The appeal is disposed in the above terms.
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2001 (9) TMI 1030 - CEGAT, MUMBAI
Stay/Dispensation of pre-deposit - Out of turn - Confiscation and penalty - Mis-declaration - Redemption fine - Tribunal’s order
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