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Case Laws
Showing 61 to 80 of 271 Records
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1994 (4) TMI 316 - SUPREME COURT
Whether groundnut protein flour is a deoiled cake within entry 29 of Schedule I of the Act?
Held that:- Appeal allowed. It is true that the analyst report in this appeal does indicate that both deoiled cake and groundnut protein flour contain common properties but the use and purpose being different and distinct, they cannot be considered to be the same commodity. The groundnut protein flour is an edible protein food for human consumption and is a different commercially marketable entity and thereby is distinct from deoiled cake for animal feed though obtained in the course of same process at different stages. Both emerge into different and distinct commodities commercially known in common parlance for distinct and different use. Thereby groundnut protein flour did not remain part of the genus, i.e., deoiled cake, but became a new and different entity known in the commercial parlance. Accordingly it is exigible to CST at the relevant time at 4 per cent. The appeals, therefore, are allowed. The order of the High Court is set aside and that of the Deputy Commissioner and Commercial Tax Officer and Sales Tax Appellate Tribunal are confirmed.
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1994 (4) TMI 315 - HIGH COURT OF DELHI
Amalgamation ... ... ... ... ..... sought to be transferred without payment of Government dues. As already mentioned above, it is only in the petition it was averred that a particular export division of the transferor company is sought to be transferred to the transferee company for better management but no facts have been given as to what that particular export unit of the transferor company comprised, whether the immovable assets sought to be transferred were being used for the said export unit of the transferor company and how many workers were functioning in the so-called export unit of the transferor company. If we go through the scheme of schedule I the real purpose and the intent of the scheme is to only transfer the valuable immovable properties of the transferor company to the transferee company. Such a scheme, in my view, is not in public interest. Upholding the objection of the Central Government, I decline to sanction the scheme and dismiss this petition leaving the parties to bear their own costs.
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1994 (4) TMI 312 - SUPREME COURT
Whether section 9(1)(b) of the Haryana General Sales Tax Act, 1973, ultra vires the powers of the State Legislature insofar as it imposed a tax on the despatch of goods outside the territory of the State?
Held that:- These appeals are allowed and it is declared that section 13AA as substituted by the Bombay Sales Tax (Amendment) Act 2 of 1990 (which replaced Maharashtra Ordinance 9 of 1989) is perfectly valid and competent piece of legislation. Indeed, the result of our judgment would be that the decision in Goodyear [1996 (12) TMI 349 - PUNJAB & HARYANA HIGH COURT] insofar as it declared the original section 13AA as invalid must be deemed to be not correct in law.
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1994 (4) TMI 302 - SUPREME COURT
whether the appellate authority, whether the first or the second appellate authority, has the power to receive form C in appeal and to grant relief, in case the dealer satisfies the appellate authority that he had sufficient cause for not producing the said certificate before the first assessing authority?
Held that:- Appeal dismissed. Mere use of the words "the first assessing authority" in sub-rule (7) of rule 12 cannot and does not mean, in the context and scheme of the enactments concerned herein, that the appellate authorities do not have the power to receive form C in appeal. This power can of course be exercised only where sufficient cause is shown by the dealer for not filing them up to the time of assessment before the first assessing authority.
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1994 (4) TMI 294 - SUPREME COURT
Whether a revision under section 20(2) is maintainable at the instance of the assessee?
Held that:- Appeal allowed. The High Court has committed an error in rejecting the revision by the State. Accordingly we hold that the aggrieved assessee has only to pursue the remedies provided in the Act and he has no right to make an application under section 20 of the Act seeking revision of the orders of assessments made under the Act by original authorities. The appeals are accordingly allowed. The orders of the High Court and STAT are set aside and the orders of the Deputy Commissioner is restored. But in the circumstances, there shall be no order as to costs.
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1994 (4) TMI 285 - HIGH COURT OF MADRAS
Oppression and mismanagement ... ... ... ... ..... ion as the same can also be considered by the CLB. Therefore, we remit the application along with the main case. 17. For all the reasons stated supra, we set aside the orders of the learned Single Judge dated 28-1-1994 and the order of the CLB dated 14-5-1993 insofar as it related to the decision on the preliminary obj ection regarding the maintainability of the petition before CLB and remit the case along with CMP No. 10581 of 1984 and direct the CLB to consider the matter afresh in accordance with law and in light of the observations made herein and pass appropriate orders. Since the matter has been pending for long even at the preliminary stage, we direct the CLB to ensure that the matter is heard expeditiously and the issue relating to the preliminary objection is disposed of within three months from the date of receipt of a copy of this judgment or on production of such copy by any of the parties before CLB. In the above circumstances, there will be no order as to costs.
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1994 (4) TMI 284 - HIGH COURT OF GUJARAT
Winding up - Preferential payments ... ... ... ... ..... of the dues of the seventh respondent apart and that, therefore, respondents Nos. 1 to 4 are required to be restrained from proceeding further with the recovery proceeding. In view of the aforesaid this company application shall have to be granted by restraining respondents Nos. 1 to 4 from proceeding further with the recovery proceeding by sale of the assets and properties of the company. However, it is clarified that as and when sale of the assets and properties of the company is effected, the petitioner-bank as well as the official liquidator, whoever shall sell the properties and assets, shall keep apart the sum equivalent to the amount of Rs. 16,78,851 towards the claim of the Employees State Insurance Corporation and shall also send intimation to the said corporation as and when the properties are sold, about the realisation received by it. In the result, the company application is granted to the aforesaid extent. Rule is made absolute to the aforesaid extent. No costs.
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1994 (4) TMI 283 - HIGH COURT OF GUJARAT
Compromise and arrangement ... ... ... ... ..... form duly signed by the person entitled to vote at the meetings is filed with the applicant-company at its registered office at Gandhi Majoor Sevalaya, Bhadra, Ahmedabad, not later than 48 hours before the respective meeting. (xv)That the value of each member or creditor shall be in accordance with the books of the company and where the entries in the books are disputed, the chairman shall determine the value for the purpose of the meeting. (xvi)The chairman is directed to report to this court the result of the said meetings within seven days of the conclusion of the meetings and the said report shall be verified by his affidavit. (xvii)It is directed that the representative of the Central Bank of India shall be at liberty to remain present at the aforesaid meetings of convertible debenture holders. In case the applicant needs a list of names of convertible debenture holders the same shall be supplied to the applicant at the cost of the applicant by the Central Bank of India.
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1994 (4) TMI 267 - HIGH COURT OF BOMBAY
Directors - Removal of ... ... ... ... ..... e) also. 12. To sum up the discussion, the city civil court at Bombay is not the principal civil court of original jurisdiction for Bombay and, as such, it has no jurisdiction to decide suit seeking reliefs by way of removal of trustees. It has also no jurisdiction to entertain a suit for removal of directors of a limited company as it relates to the internal management of the company which is governed by the provisions of the Companies Act, specifically made in that behalf. 13. In the result, this revision application is allowed. The impugned order is set aside. The preliminary issues framed by the trial court in regard to its jurisdiction is answered in the negative, i.e., the city civil court has no jurisdiction to entertain and try the suit in question. This revision application is allowed but with no order as to costs. On the prayer of the learned counsel for the respondent the operation of this order is prayed for a period of eight weeks from today. Application allowed.
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1994 (4) TMI 266 - HIGH COURT OF MADRAS
Enforcement officers, appointment and powers of, Custody of document, etc. ... ... ... ... ..... d counsel further contends that R. C. Singh was clothed with the insignia of office and he was purporting to exercise the functions and duties of a Gazetted Officer of Enforcement under section 40(1) of the Foreign Exchange Regulation Act and, therefore, the de facto doctrine was attracted. He relies upon the decision of this court in Gokaraju Rangaraju v. State of Andhra Pradesh 1981 3 SCR 474 AIR 1981 SC 1473, enunciating the de facto doctrine, born of necessity and public policy to prevent needless confusion and endless mischief. In other words, he contends that where an officer acts under the law, it matters not how the appointment of the incumbent is made so far as the validity of his acts is concerned. In this view of the matter, I, therefore, reject the contention of the petitioner that the first respondent has no jurisdiction to issue the subject show-cause notice. Consequently, Writ Petition No. 1280 of 1994 is dismissed. There will, however, be no order as to costs.
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1994 (4) TMI 265 - HIGH COURT OF PUNJAB AND HARYANA
Court – Jurisdiction of, Inherent powers of Court ... ... ... ... ..... well that the pioneers of these companies are the two brothers. In so far as clause (xii) of the award which mentions Raghbir Bicycles International as well, is concerned, suffice it to say that it is mentioned that Gurcharan Singh and his family members or Raghbir Cycles P. Ltd. shall have no right of any kind whatsoever in the said company. This rather supports the case of the objector, and, thus, in no way detracts from the validity of the award. These are the only points on which arguments were addressed. In as much as no arguments were addressed on the other points mentioned in the objection petition, reproduced in the earlier part of the judgment, no comments on the said objections are necessary. Finding no merit in the objections, I reject the same. Resultantly, the award dated January 27, 1993, rendered by the arbitrator is made the rule of the court. Let a decree be drawn up in accordance with the award. The objections are rejected with costs quantified at Rs. 5,000.
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1994 (4) TMI 264 - HIGH COURT OF GUJARAT
Oppression and Mismanagement ... ... ... ... ..... ication submitted by defendant No. 1 is required to be dismissed. In the result the revision applications are allowed. The order dated September 9, 1988, passed by the trial court below, exhibits 47-48 in Civil Suit No. 3181 of 1987 and exhibits 40-41 in Civil Suit No. 3182 of 1987 is quashed and set aside. The chamber summons taken out by exhibits 41-42 in Civil Suit No. 3182 of 1987 and by exhibits 47-48 in Civil Suit No. 3181 of 1987 is ordered to be dismissed. The trial court is directed to proceed further with the suit in accordance with law as expeditiously as possible. Rule made absolute accordingly in both the revision applications with no order as to costs. At this stage, learned counsel for the opponents requests that the operation and implementation of the aforesaid order be stayed so as to enable the opponent-original defendants to challenge the legality and validity of the aforesaid order before the Supreme Court. In the facts of the case, the request is refused.
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1994 (4) TMI 263 - HIGH COURT OF PUNJAB AND HARYANA
Winding up – Statement of affairs to be made to official liquidator ... ... ... ... ..... loss of records only with a view to escape their liability for prosecution. The defence version that the books were lost is supported by the fact that the loss was reported to the police. It is true that a report of the type contained in exhibit DW-1/1 can be lodged at any time with impunity but the prosecution too on its part has not led any evidence to show that the books were available with the directors for the purpose of preparing the statement of affairs. The onus was on the prosecution and since it has not been discharged the prosecution case must fail and the accused are entitled to the benefit of doubt. Again, it is not established on the record that even the notices for the submission of the statement of affairs as sent by the official liquidator were ever served on the accused. The notice, exhibit CW-1/1, was sent to the accused and admittedly none of them was served and they were received back undelivered. For the reasons recorded above, the accused are acquitted.
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1994 (4) TMI 238 - SUPREME COURT
Winding up - Suits stayed on winding-up order - single judge passed an order directing the two suits be transferred to the Bombay High Court - Held that:- Without intending to lay down the law broadly but confining only to the facts of this case, we feel that the order of transfer of the suits to the High Court of Bombay cannot be supported. This transfer will result in greater expenditure to the appellant bank which certainly is avoidable "than the wasteful expenditure" to the official liquidator. Accordingly that part of the order directing the transfer is set aside.
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1994 (4) TMI 237 - HARYANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Consumer dispute ... ... ... ... ..... mility wish to record our dissent therefrom in view of the two previous decisions of this Commission referred to above. In case S.D.O. A.E.E. City Division v. Hotel Palkil I 1992 CPJ 127, this Commission has taken the view that redressal agencies are bound by their own decisions on a point of law. That being so for an added reasons we are obliged to take a view consistent with our previous ones. 10. In view of the aforesaid discussion, it has necessarily to be held in favour of the appellants that the respondent was not a consumer for the purposes of the Act and inevitably the complaint was not maintainable within the consumer jurisdiction. The appeal is consequently allowed on the threshold ground and we are constrained to set aside the order of the District Forum and dismiss the complaint preferred by the respondent. 11. However, in view of the somewhat ticklish question of law and conflict of precedents thereon, we leave the parties to bear their own costs. Appeal allowed.
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1994 (4) TMI 236 - HIGH COURT OF KARNATAKA
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... ... ..... s stock option scheme as already suggested by SEBI and announced by the GOI itself, in consultation with the negotiating Trade Unions. (e)Directing Respondents 1 and 2 to make adequate preparations and to apply their mind specifically to the criticisms made by the CAG so that the mistakes made in the first round are not repeated and maximum returns are ensured while disinvestment, if any, is made in future. Interim Prayer For the reasons explained above, it is prayed that this Hon ble Court be pleased to (A)Stay the opening or otherwise acting on the tenders received. (B) Direct Respondent Nos. 1 and 2 to ensure proper evaluation of share price and fixation of reserve price in consultation with BEL Manage-ment. (C)Direct Respondent Nos. 1, 2 and 3 that expert opinion be sought on the appropriate form of disinvestment, in the interests of maximum realisation of value. (D)Pass any other order/writ/Direction which this Hon ble Court may deem fit in the circumstances of the case.
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1994 (4) TMI 235 - HIGH COURTOFMADRAS (SMC)
Free transferability and registration of transfers of listed securities of companies ... ... ... ... ..... in respect of the shares falling under list A and C (categories I and III) are hereby set aside and the appeal filed by the 11 respondent companies against the direc-tions of the CLB directing rectification of the share registers with regard to the shares falling under list A and C, namely, C.M.A. Nos. 1412 to 1422 of 1993 are allowed (b)the appeals preferred by the appellant company, namely, C.M.A. Nos. 1245 to 1251 of 1993 challenging the decision of the CLB refusing to rectify the register in respect of the shares falling under list B are dismissed. (c)the appellant company Kothari Industrial Corpn. Ltd. shall proceed to finalise and allot rights PCDs and additional rights PCDs to the extent of the entitlement of the 11 respondent companies pursuant to their applications in terms of letter of offer dated 15-10-1993 within two weeks from to-day and (d)the other directions of the CLB shall stand vacated. In the circum-stances of the case, each party will bear its own costs.
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1994 (4) TMI 233 - SUPREME COURT
Whether the consent given by her general power of attorney holder for and on her behalf—and not by her personally—is a valid consent within the meaning of sub-section (3) of section 399?
Held that:- Appeal is allowed and the orders of the learned company judge and the Division Bench impugned herein are set aside. The consent given by the first appellant for and on behalf of Smt. V. Rajeshwari, as her general power of attorney holder is a valid consent within the meaning of section 399(3) and, therefore, the preliminary objection to the maintainability of the application filed under sections 397 and 398 is unsustainable in law. The application may be proceeded with in accordance with law expeditiously, in view of the fact that about fifteen years have been spent on a preliminary objection alone.
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1994 (4) TMI 230 - HARYANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Consumer dispute - Whether private placement or purchase of shares of a public limited company and their subsequent non-delivery would come within ambit of consumer dispute - Held, no , Consumer - Whether complainants who had deposited money with a company for buying its equity shares but to whom those shares had neither been allotted nor delivered could be considered consumers for purposes of Act - Held, no
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1994 (4) TMI 228 - HIGH COURT OF RAJASTHAN
Winding up – Company when deemed unable to pay its debts ... ... ... ... ..... Union of India v. Krishna Mills Ltd. 1994 81 Comp. Cas. 50), after a detailed examination of the scheme of the 1985 Act and it has been held by the court that the proceedings on the company petition do not abate merely because of commencement of proceedings under the Act of 1985. Since detailed reasons have already been given in the order of this court dated 9th September, 1993, I do not consider it necessary to repeat those reasons. However, having taken note of the fact that the company has been declared to be a sick company and proceedings under the Act of 1985 are pending, I order that the proceedings of this petition shall remain frozen and the file of this case be consigned to record. It shall be open to the petitioner to move the Board for Industrial and Financial Reconstruction for appropriate orders. It shall also be open to the petitioner-company to move this court for revival of the proceedings of this case after the proceedings under the Act of 1985 are concluded.
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