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Showing 21 to 40 of 772 Records
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2005 (2) TMI 893 - SUPREME COURT
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... ... ..... roceeding at Mumbai. Several of the other Banks and Financial Institutions who have instituted proceedings at Mumbai hold a first charge, whereas the Punjab National Bank admittedly holds a second charge. Having regard to the aforesaid facts and circumstances which are not in dispute, we transfer O.A. No.54 of 2001 titled Punjab National Bank Vs. M/s. Kusum Ingots & Alloys Ltd. & Ors. pending before Debt Recovery Tribunal at Jabalpur to the Debt Recovery Tribunal at Mumbai. The Debt Recovery Tribunal, Jabalpur shall forthwith transmit the record of the case to the Debt Recovery Tribunal at Mumbai. This Transfer Petition is accordingly allowed.
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2005 (2) TMI 892 - DELHI HIGH COURT
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... ... ..... ns are such which raises serious doubt on the Non Rresident Indian status of the depositors and demonstrates circumventing of the provisions. These need to be gone into and considered in the appeal. Keeping the above factors in mind and meaning and interpretation of the expression undue hardship as it appears in Section 19 and recognising that it is not a case of financial hardship, consideration of factors such as balance of convenience or absence of financial hardship should not negate the plea of waiver of deposit, as per the principles enumerated in paras 6 & 7 hereinbefore. The appropriate order in this case would be to require the petitioner to deposit 50% of the penalty amount i.e. a sum of ₹ 5 lacs within 15 days from today. In case, petitioner makes the deposit of ₹ 5 lacs within 15 days with the respondent, the appeal shall be heard and disposed of in accordance with law. Writ petition stands allowed to the above extent with directions, as aforesaid.
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2005 (2) TMI 891 - ITAT AMRITSAR
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... ... ..... in the parameters of section 68, and an addition to some extent was sustained, the issue of levy of penalty under section 271(1)(c ) has to be considered on the basis of evidence or record as to whether the explanation of the assessee was plausible. If the explanation is found to be plausible, no penalty under section 271(1)(c ) could be leviable. In the present case, the assessee has also submitted the explanation and on the basis of material and evidence placed on record, such explanation appears to be plausible, even though addition for the same was made. Thus, in the light of these facts and circumstances of the case and respectfully following the ratio of the aforesaid judgments/decisions, I am of the opinion that the ld. CIT(A) was not justified in sustaining the impugned penalty, I, therefore, set aside the order of the CIT(A) and cancel the impugned penalty. Accordingly, all grounds of appeal are allowed. 6. In the result, the appeal filed by the assessee is allowed.
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2005 (2) TMI 890 - SUPREME COURT
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... ... ..... directed to be reinstated in the services of the Appellant without back wages as was directed by the High Court, the same would remain an ad hoc one and, thus, her services can be terminated upon compliance of the provisions of the Industrial Disputes Act. It is also relevant to note that there may or may not now be any regular vacancy with the Appellant-Bank. We have noticed hereinbefore that in the year 1996, the vacancies had been filled up and a third party right had been created. It has not been pointed out to us that there exists a vacancy. Having considered the equities between the parties, we are of the opinion that it was not a fit case where the High Court should have interfered with the discretionary jurisdiction exercised by the Labour Court. 23. For the reasons aforementioned, the impugned judgment cannot be sustained which is set aside accordingly. This appeal is allowed. However, in the facts and circumstances of the case, there shall be no order as to costs.
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2005 (2) TMI 889 - DELHI HIGH COURT
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... ... ..... been given on the merits of the case; (c) where it appears on the face of the proceedings to be founded on an incorrect view of international law or a refusal to recognise the law of India in cases in which such law is applicable; (d) where the proceedings in which the judgment was obtained are opposed to natural justice; (e) where it has been obtained by fraud; (f) where it sustains a claim founded on a breach of any law in force in India . 24. Therefore, on the basis of aforesaid tentative observations, I am of the opinion that dispute raised by the respondent company about the validity of such a decree is not a sham dispute. The respondent company has questioned the decree on substantial ground which needs probe. It would be more appropriate for the petitioner to file execution proceedings under Section 44-A CPC so that the validity of the decree is tested finally after recording the evidence, and with reference to Section 13 CPC. 25. The petition is dismissed. No costs.
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2005 (2) TMI 888 - MADRAS HIGH COURT
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... ... ..... seen from the order of the Tribunal that the Tribunal has considered the matter in detail and arrived at the conclusion that the income at the rate 2 per cent on the gross receipts of the assessee should be taken as income taxable for the period under consideration. The Tribunal had also taken into consideration the finding of the CIT wherein he has allowed the appeal holding that the interest earned by the assessee during the course of its business should be taken as income from business and it should not be considered separately and the 2 per cent estimate fixed by him will take care of that also. It is clear that the finding of the Tribunal regarding fixation of percentage of profit and consideration of interest is purely a finding of fact and it is based on evidence and, therefore, no Question of law much less substantial question of law, arises for consideration. The appeal is liable to be dismissed. 3. Accordingly, the appeal fails and the same is dismissed. No costs.
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2005 (2) TMI 887 - ALLAHABAD HIGH COURT
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... ... ..... your placement Order as you failed to join the respective College of your placement within the stipulated period; and by suppressing these facts, you succeeded in obtaining interim Order; though petitioner No, 1 joined but petitioner No. 2 did not join at the College in Bijnor in view of the interim Order of this Court dated 24.4.2002, thus, played fraud upon the Court in Order to get the placement of petitioner No. 1 in NAS College, Meerut as the petitioner No. 2 is still working in Azamgarh. 78. We are of the view that your conduct amounts to criminal contempt. Thus, you are directed to show cause as to why you should not be punished for committing the criminal contempt in view of the provisions of Article 215 of the Constitution of India read with the provisions of Section 15 of the Contempt of Courts Act, 1971, within a period of three weeks from today. List the matter on 25th February, 2005 and on that date, both petitioners are directed to remain present in the Court.
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2005 (2) TMI 886 - SUPREME COURT
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... ... ..... relevant year. It is also relevant to note the fact that the allegation, that certification by a Chartered Accountant is not genuine, has not been rebutted by the concerned respondent. 15. In this factual background, we think the High Court was not justified in allowing the writ petition of respondent No.1 Bolangir Trading Company in regard to the grant of contract pertaining to the district of Bolangir - Bhawanipatna. 16. Since we have come to the conclusion that the High Court has misread the material on record and has committed factual error based on which the relief is granted, we do not think it necessary to go into the various judgments relied upon by the High Court. 17. For the reasons stated above these appeals succeed. The impugned orders of the court below are set aside and the writ petition (c) No. 3592 of 2003 is dismissed. 18. In view of our above order, there is no need to make any separate order in the appeal arising out of the review order of the High Court.
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2005 (2) TMI 885 - BOMBAY HIGH COURT
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... ... ..... retary of the State of Maharashtra to ensure that 100 additional posts of Civil Judges, Junior Division, and their supporting staff are created forthwith, and in any event, within two months from today. 45.Even after receiving sanction from the State, to complete the entire process, at least time of few months would be required. 45. Therefore, looking to the urgency of these matters, we direct the Registrar General to appoint following judicial officers in various cities of Maharashtra to deal with cases under Section 138 of the Act exclusively 46. The Registrar General is directed to post the officers as enumerated in preceding paragraph within two weeks. 47. We direct that the copies of this judgment be sent to the Chief Secretary and the Law Secretary of the State of Maharashtra within three days for immediate compliance. 48. These petitions are disposed of. These petitions would be listed on 1 st March, 2005 for limited purpose of ensuring the compliance of our judgment.
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2005 (2) TMI 884 - COMPANY LAW BOARD, NEW DELHI
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... ... ..... n the UPC as a conclusive evidence of service. 10. In the light of the above discussions, I am inclined to allow the petition partly and direct that the petitioner group be allotted the shares on proportionate basis maintaining the ratio as was at the time of inception of the company. The respondent company will write to ascertain their willingness to subscribe to the proportionate shares proposed to be allotted. In case the petitioners are willing to accept the same, it should be allotted to them. The offer should be made within 30 days by Regd. Post from the date of this order and petitioners should respond together with necessary remittance of money within 15 days from the date of receipt of this offer. In case the petitioners do not respond within the stipulated time, the offer will lapse. Consequently, the authorized capital of the company will stand increased to that extent. With the above directions, the petition stands disposed of. 11. There are no orders as to cost.
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2005 (2) TMI 883 - SUPREME COURT
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... ... ..... fined to only such persons who are entitled for such visit. 47. In compliance of this order, we direct the State of Bihar to transfer the respondent from Beur Jail, Patna to Tihar Jail, Delhi and hand over the prisoner to the authorized officer by prior intimation to Tihar Jail authorities of his arrival in Delhi. The authorities escorting the respondent from Patna to Delhi shall strictly follow the rules applicable to the transit prisoners and no special privilege should be shown, any such act if proved, will be taken serious note of. The respondent shall be transferred to Tihar Jail from Patna within one week from the date of this order. A copy of this order shall forthwith be communicated to the Home Secretary. Government of Bihar, Superintendent of Beur Adarsh Jail and the Inspector General, Prisons, Tihar Jail. We further direct all authorities civil and judicial shall act in aid of this order of this Court as contemplated under Article 144 of the Constitution of India.
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2005 (2) TMI 882 - SUPREME COURT
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... ... ..... iod upon the dishonour of the cheque on the first occasion.for more than one reasons, the impugned judgement and order deserves to be reversed.firstly, no such ground seems to have been taken by the respondent in the petitionfiled under section 482 of the code; and secondly, according to the appellant,the statutory notice of dishonour of the cheque was given only once, i.e., the notice dated5th november, 2002, whereafter the complaint was filed within the period stipulatedin law. Neither in these proceedings nor in the petition filed under section 482 of thecode any ground has been raised in support of the prayer for quashingthe proceedings. Be that as it may, if any defence on facts has to be raised, it could notbe made a ground for quashing the proceedings, being a disputed question of fact. For the aforesaid reasons, we set aside the impugned judgement and orderof the high court, allow the criminal appeal and direct that the complaint shall Proceed in accordance with law.
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2005 (2) TMI 881 - TELANGANA AND ANDHRA PRADESH HIGH COURT
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... ... ..... mplicity of the crime. An average man gathers a feeling that a concerted attempt is being made to divert the attention of the prosecution as well as the public and to cover the real culprits. The investigating agency should be accorded the freedom, to proceed in the matter, and any step, which is likely to divert its attention or otherwise interfere with it, may complicate the issues and make the investigation to deviate from the correct line. The petitioners can certainly extend their services to the society, at large, at appropriate time, for instance, after the charge-sheet is filed. There is nothing, which prevents the petitioners or other agencies, to help the investigation by providing such information as they possess. However, it is impermissible to provide access to the petitioners to one of the accused, at this stage. They can renew their request after the charge-sheet is filed. 24. The writ petitions are accordingly disposed of. There shall be no order as to costs.
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2005 (2) TMI 880 - DELHI HIGH COURT
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... ... ..... ther infringement of its intellectual property rights in any of its software at the hands of the defendants. Plaintiff would also be entitled to an order for the delivery-up forthright by the defendants. Plaintiff would also be entitled to damages for the reason that it would be futile to direct the defendants to render accounts for the reason that the defendants have been carrying on business surreptitiously. 22. Suit is accordingly decreed in terms of prayers 'A' to 'D' of the plaint, as noted in para above. Suit is further decreed by awarding the plaintiff compensation/damages against the defendants in the sum of ₹ 19.75 lacs. Damages awarded are payable by the defendants jointly and severally. Damages awarded shall carry interest 9 p.a. from the date of decree till date of payment. 23. Plaintiff would be entitled to costs. 24. Decree be prepared on the plaintiff making up the deficiency in court fee in respect of the damages which have been awarded.
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2005 (2) TMI 879 - BOMBAY HIGH COURT
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... ... ..... "Where the Bank as the pawnee was not in a position to deliver back the goods on account of the seizure made by the police. The Bank as the pawnee having refused to perform its obligation of redelivering the goods on debts being satisfied cannot claim any interest from the date on which the petitioner wanted release of the goods pledged by satisfying the debt." 14. It may be seen that the circumstances of the case show that there was reasonable apprehension in the minds of the plaintiffs that even if they were to pay whole of the loan with interest gold ornaments would not be returned to them in such circumstances they were justified in not making actual payment of loan amount. The appellate Court was justified in holding that the liability of the plaintiffs to pay interest would stop after August 1982. I find no illegality in the conclusion drawn by the appellate Court. 15. In the result, I find no merit in the appeal. The same is, therefore, dismissed with costs.
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2005 (2) TMI 878 - SECURITIES APPELLATE TRIBUNAL, MUMBAI
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... ... ..... violative of regulations. Even if we consider transactions undertaken for tax planning as being non genuine trades, such trades in order to beheld objectionable, must result in influencing the market one way or the other. We do not find any evidence of that either in the investigation conducted by the Bombay Stock Exchange, copy of which has been annexed to the memorandum of appeal or in the impugned order that there was any manipulation. It is also seen that the impugned transactions have taken place at the prevailing market price. Trading in securities can take place for any number of reasons and the authorities enquire into such transactions which artificially influence the market and induce the investors to buy or sell on the basis of such artificial transactions. This is not even the case of the respondent, therefore it is not possible for us to sustain the impugned order. 13. Accordingly the appeals are allowed and the impugned order is set aside. No order as to costs.
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2005 (2) TMI 877 - SUPREME COURT
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... ... ..... ince the law must take its course, and the authorities concerned may take such action as they may deem proper in accordance with law. Since the stand of the appellant before this Court is that the Tehsildar cannot exercise jurisdiction over the suit land in view of Section 18 of the Tenancy Act, it may be open to the Appellant to contend that proceeding before the authorities under the Tenancy Act is not maintainable. The appellant himself had invoked that jurisdiction. However, if he now wishes to contend that the proceeding initiated by him is not maintainable, he cannot be prevented from doing so and suffer all consequences that may follow therefrom. We wish to express no opinion on this aspect of the matter. Accordingly, these appeals are dismissed and the respondent- tenant is at liberty to seek possession of the land in question in accordance with law. For the reasons recorded in Civil Appeal Nos.6892-6893 of 1999, Civil Appeal Nos.6894-6895 of 1999 are also dismissed.
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2005 (2) TMI 876 - SUPREME COURT
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... ... ..... sonableness, being facets of Article 14 of the Constitution of India are available or not as grounds to invalidate a legislation. Both counsel have placed reliance on observations made in decisions rendered by Bench of three learned Judges. 7. Further contention of learned Solicitor General is that the conclusion drawn in Vineet Narain's case is erroneous that the Constitution Bench decision in K. Veeraswami v. Union of India and Ors. (1992)IILLJ53bSC is not an authority for the proposition that in the case of high officials, requirement of prior permission/sanction from a higher officer or Head of the Department is permissible, the submission is that conclusion reached in para 34 of Vineet Narain's decision run contrary to observations and findings contained in para 28 of Veeraswami's case. 8. Having regard to the aforesaid, we are of the view that the matters deserve to be heard by a larger Bench, subject to the orders of Hon'ble the Chief Justice of India.
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2005 (2) TMI 875 - SUPREME COURT
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... ... ..... of the view that the findings of fact recorded by the courts below were wrong, in our opinion, these findings of fact could not be disturbed without coming to the conclusion that the findings recorded were perverse i.e. based on misreading of evidence or based on no evidence. The High Court did not come to such a conclusion. The learned Singh Judge also did not come to the conclusion that the appeal involved other substantial questions of law or formulate the same. Counsel for the respondent submitted that the case be remitted back to the High Court for a fresh decision. We are not inclined to do so as, in our opinion, a substantial question of law does not arise in the appeal. Counsel for the respondent could not formulate a question of law which could be said to be arising in the second appeal. For the reasons stated above, this appeal is accepted, the judgment and decree passed by the High Court is set aside and that of the courts below is restored. No order as to costs.
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2005 (2) TMI 874 - SUPREME COURT
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... ... ..... nt and order. We have perused the judgment of the High Court. Apart from other reasons recorded by the High Court, we find that the link evidence adduced by the prosecution was not at all satisfactory. In the first instance, though the seized articles are said to have been kept in the malkhana on 20th May, 1995, the Malkhana register was not produced to prove that it was so kept in the malkhana till it was taken over by PW-6 on June 5, 1995. We further find that no sample of the seal was sent along with the sample to Excise Laboratory, Jodhpur for the purpose of comparing with the seal appearing on the sample bottles. Therefore, there is no evidence to prove satisfactorily that the seals found were in fact the same seals as were put on the sample bottles immediately after seizure of the contraband. These loopholes in the prosecution case have led the High Court to acquit the respondent. We find no error in the judgment of the High Court. This appeal is, therefore, dismissed.
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