Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Forum Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database More...
Case Laws
Home Case Index Companies Law HC Companies Law - HC
Citation -
Order by


Companies Law - High Court - Case Laws

Showing 1 to 20 of 7901 Records

  • 2017 (9) TMI 751 - DELHI HIGH COURT

    S.S. Technologies Versus N.G. Technologies Ltd.

    Dissolution of the company - liquidation proceedings in progress - Held that - The fund position of the Company is ₹ 1,51,735-75 as on 30.06.2017 which is barely sufficient to meet the Liquidation Expenses as Govt. Commission, Income Tax, audit fee etc, hence, the Official Liquidator is not in a position to admit the claims as stated above. The Income Tax Department did not file its claim and the claim of other authorities namely Central Ex....... + More

  • 2017 (9) TMI 436 - GUJARAT HIGH COURT

    Textile Labour Association Versus Official Liquidator of New Rajpur Mills Ltd & 4

    Winding up petition - whether the secured creditors as well as unsecured creditors who are found to be eligible on verification by Chartered Accountant would be entitled to a total amount of ₹ 3,90,20,035? - Held that - Mr. Uday Bhatt, learned counsel appearing for respondent no.2 which was formerly represented by Mr. Bhagat has relied upon the affidavit dated 19.08.2017 and has submitted that SBI, respondent no.2 has lodged claim under sec....... + More

  • 2017 (9) TMI 324 - KERALA HIGH COURT

    Ramesan Maithiyeri Versus Union of India, The Registrar of Companies, Kerala And Lakshadweep And Business India Shares And Insurance Ltd.

    Illegally and wrongfully shown as the Director - Power of Registrar to call for information or explanation - action of the Directors of the Company in including his name as a Director of its Board though he is not the share holder or the Director - deliberate manipulations - Held that - The submissions made on behalf of respondents 1 and 2 herein, recorded above, would clearly indicate that the allegations of the petitioner that large scale manip....... + More

  • 2017 (9) TMI 256 - DELHI HIGH COURT

    Kusum Products Limited Versus Union of India and anr.

    Seeking amendment of the cut-off date in the scheme sanctioned by the BIFR - petitioner seeks extension of the period of rehabilitation from 31.03.2018 to 31.03.2020, without any change in the terms and conditions of the scheme sanctioned by the BIFR - Insolvency and Bankruptcy Code, 2016 applicability - Held that - Once BIFR and AAIFR have been dissolved under the Insolvency and Bankruptcy Code, 2016, the adjudicating authority for insolvent com....... + More

  • 2017 (9) TMI 129 - MADRAS HIGH COURT

    Mr. Pradeep D. Kothari Versus IDBI Bank Limited, The Official Liquidator And S. Ramaiah

    Defalcation and fraud by the appellant - appellant s motivation in infusing his personal funds to the company s liability towards the creditors - winding up proceedings - Held that - The appellant, admittedly, even according to the learned Single Judge, enabled the settlement of dues, of more than ten thousand depositors. To achieve this end, concededly, the appellant brought in his personal funds. Clearly, by providing funds, the appellant has b....... + More

  • 2017 (9) TMI 57 - DELHI HIGH COURT

    Kusum Products Limited (KPL) Versus Union of India And Anr.

    Grant of relief under Sections 41(1), 45, 72(3) and 115 JB of the Income Tax Act, in compliance with the Scheme sanctioned by the BIFR - Held that - The petitioner is granted liberty to approach NCLT, Calcutta for appropriate relief, as advised. Liberty is also granted to the respondents to approach NCLT, Calcutta for seeking transfer of such a petition, as and when filed by the petitioner, which shall then be decided in accordance with law........ + More

  • 2017 (9) TMI 3 - DELHI HIGH COURT

    In Re: Madan Associates Pvt. Ltd. (In Vol. Liqn.)

    Voluntary winding up - dissolution of the company - Held that - The Registrar of Companies, NCT of Delhi and Haryana vide its letter No.15817 dated 09.03.2016 has stated that it has no objection for dissolution of the company in voluntary liquidation. - From the scrutiny of the records submitted by the voluntary liquidator, the Official Liquidator attached to this Court is satisfied that the necessary compliances of Section 497 of the Act and oth....... + More

  • 2017 (9) TMI 2 - GUJARAT HIGH COURT

    Quintlies Research India Private Limited Versus Regional Director, Ministry Of Corporate Affairs

    Shifting of the registered office - scheme of amalgamation approved - Held that - Once the Company Court has approved the scheme of amalgamation it has to be given effect to. Therefore, when the amalgamation is permitted as per the Company (incorporation) Rules 2014, it will be the registered office of the company which will have to be mentioned. The applicant company is required to meet with the deadline for filing income tax return and finalizi....... + More

  • 2017 (8) TMI 1145 - DELHI HIGH COURT

    Jaskiran Sran & Ors. Versus M/s. Cartel Attire Private Ltd.

    Liquidation proceedings - application moved by the Official Liquidator for final winding up in the matter - Held that - The official liquidator is of the view that no fruitful purpose would be achieved by keeping the liquidation proceedings pending. Accordingly, the Official Liquidator has preferred the present application u/s 481 of the Companies Act, 1956 seeking Dissolution of the Company (in liquidation) as neither any amount/assets need to b....... + More

  • 2017 (8) TMI 1080 - ALLAHABAD HIGH COURT


    Other-Misconduct by chartered accountant - name lending to the prospectus to public issue though resigned as director - Held that - The Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the public issue, his....... + More

  • 2017 (8) TMI 1079 - DELHI HIGH COURT

    Mondelez Foods Private Limited Versus The Regional Director (North) , Ministry of Corporate Affairs & ORS.

    Change in the corporate name - RD (as a delegatee of the powers of the Central Government)powers to issue directions to change name - Held that - The introduction of proviso to Section 22(1) must also be given some meaning; plainly, if the owner of a registered trade mark is not precluded from making a complaint within a period of five years of becoming aware of a company with a deceptively similar name, the power of the RD to examine and address....... + More

  • 2017 (8) TMI 1019 - GUJARAT HIGH COURT

    Official Liquidator of Esskay Pharmaceuticals Ltd. Versus Joint Director General of Foreign Trade & 3

    Dues of the revenue authorities are outstanding - Taluka Development Authority directed to submit outstanding dues in two parts, viz., preliquidation dues and post liquidation dues in relation to the aforesaid property of the Company in liquidation - Official Liquidator took possession of the assets and property of the Company in liquidation - Held that - Having heard the learned counsel appearing for the parties and on perusal of the record of t....... + More

  • 2017 (8) TMI 970 - GUJARAT HIGH COURT

    NR Agrawal Industries Ltd. Versus Sirish B Desai & 2

    Suit for specific performance, declaration and permanent injunction - ex parte ad-interim injunction - Held that - Examining the case on hand and three cardinal principles enshrined in Order 39, Rule 1 of the Code of Civil Procedure i.e. prima facie case, balance of convenience and irreparable loss is concerned, it is a matter of record that respondent Nos.1 and 2 have entered into MOU with the applicant for the land bearing Survey Nos.373 and 58....... + More

  • 2017 (8) TMI 969 - DELHI HIGH COURT

    Shri Sachin Duggal & Anr. Versus M/s. SMX Technologies India Ltd.

    Liquidation proceedings - dissolution process - Held that - This Court vide its order dated 03.02.2016 permitted the Official Liquidator to publish notice of dissolution for inviting no objection(s) for dissolution of Company in Jansatta (Hindi) and Hindustan Times (English). In terms of order dated 03.02.2016 of this Court dissolution notice has been published in Jansatta (Hindi) and Hindustan Times (English) on 11.06.2016. Till date no objectio....... + More

  • 2017 (8) TMI 868 - DELHI HIGH COURT

    Shri Sachin Duggal & Another Versus M/s SMX Technologies India Ltd.

    Winding up petition - Held that - The Official Liquidator was directed to file a report under Section 481 of the Companies Act for dissolution of company within two weeks. Hence the Official Liquidator had filed an application No.1206/2017 and stated that Mr. Sachin Duggal, ex-director of the company in liquidation visited the office on 03.02.2014 and his statement was recorded under Section 130 of Company (Court) Rules. The other directors namel....... + More

  • 2017 (8) TMI 674 - BOMBAY HIGH COURT

    The Hongkong and Shanghai Banking Corporation Ltd. Chemtex Clobal Engineers Pvt. Ltd., Ramesh Brijmohan Pokhriyal, Global Trading Links Ltd., Barclays Bank PLC, Nederlandse Financierings, Maatschappij Voor Ontwikkelingslanden, Shreeji Steel Traders Pvt. Ltd. Versus M/s. Alok Industries Ltd

    Insolvency and Bankruptcy Code - Held that - On an application preferred by the financial creditor, namely, State Bank of India, under Section 7 of the Insolvency and Bankruptcy Code, 2016, the National Company Law Tribunal (NCLT), Ahmedabad Bench has passed an order dated 18.07.2017 under Section 14 of the said Code. - In view thereof, the present petition is adjourned sine die. The parties herein are granted liberty to mention the petitions eit....... + More

  • 2017 (8) TMI 673 - GAUHATI HIGH COURT

    Prag Bosimi Synthetics Limited Versus 3A Capital Limited & 3 ORS.

    Transfer of Preference Shares - corporate debt restructuring - Held that - Having perused the materials on record, it is observed that the appellant s side could not show from the records that the assignment deed, which contained a list of securities, contained those RCCP and CCP (i.e. preference shares). The learned CLB has also arrived at the same finding. - The appellant s side has also not been able to successfully demonstrate that the said 3....... + More

  • 2017 (8) TMI 426 - BOMBAY HIGH COURT

    Darius Rutton Kavasmaneck, Mumbai Versus Gharda Chemicals Limited, Keki Hormusji Gharda, Aban Keki Gharda, A.K. Luke, Almitra H. Patel, And D.T. Desai

    Membership of the private company exceeded 50 or not - joint share holdings of the members - exclusion of employee quota - Deemed public company - transfer of five shares of the appellant (singly) to the appellant jointly with his children and wife - according to the respondents resulted in the membership of the 1st respondent company exceeding 50 thereby rendering the 1st respondent a public company. - Held that - In view of the condition impose....... + More

  • 2017 (8) TMI 391 - BOMBAY HIGH COURT

    H. Fillunger & Company Pvt. Ltd., Achyut Dattatraya Marathe And Shobhana Achyut Marathe Versus Ajit Arvind Marathe, Mr. Mandar Achyut Marathe, Mr. Anant Shankar Pandit, And Mr. Vilas Ashok Marathe

    Amendment of the Memorandum of Association of the company - increasing authorized capital of the Company - Act to override memorandum, articles etc. - trial court stayed the amendment - Held that - articles are internal regulations of a Company. It is a subordinate document to the Memorandum of Association. If companies were unable to alter their memorandum or Articles of Association to give effect to their desire changes, the corporate enterpris....... + More

  • 2017 (8) TMI 253 - DELHI HIGH COURT

    AI-Rawas Mining Co. LLC Versus ASA Portfolio Private Limited

    Outstanding dues - winding up petition - Held that - The respondent had neglected to pay to the petitioner due to its relations becoming sour after October 2013 when the petitioner decided not to transact any further business with it. The respondent then blocked the balance payment. Despite the petitioner being shown, in its sundry creditors list till the year ending on 2014, the respondent suddenly showed the petitioner as a sundry debtor for th....... + More

what is new what is new
  ↓     Latest Happenings     ↓  

Highlight: Notification regarding GST rate for branded cereal, pulses and flour

News: Notification regarding GST rate for branded cereal, pulses and flour

Highlight: Anti-dumping duty on import of bus/truck tyres from China

Highlight: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about their taxability - demand confirmed.

Highlight: BAS - execution of the project of smart card for vehicle registration – implementing the SOC-VRC project - The fact that the Government has outsourced some part of the work and paid certain consideration for such outsourced work, does not make the activity subject to service tax.

Forum: Input tax credit

Forum: Cess paid instead of SGST

Forum: Excise duty credit on finished stock at additional place of business.

Circular: Amendments in Hand Book of Procedures 2015-20 –reg.

News: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Constitution of National Anti-profiteering Authority (NAA) under GST-reg. - Trade Notice

Highlight: Amendments in Hand Book of Procedures 2015-20 –reg. - Various amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020.

Forum: GST rates on mobile recharge business

Circular: Constitution of National Anti-profiteering Authority (NAA) under GST-reg.

Forum: import purchase

Highlight: Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in such arrangement.

News: RBI Reference Rate for US $

Forum: 3B mistake

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

Circular: Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.

News: Anti-dumping duty on import of bus/truck tyres from China

News: Fast-track GST refund, else ₹ 65K cr may be stuck: Exporters

Highlight: It is open to the Settlement Commission to use best judgment in arrival of the figure. Nonetheless it has to explain the manner in which the best judgment figure has been arrived at by the Settlement Commission - HC

Highlight: Deemed dividend u/s 2(22)(e) - advances given to societies - in the absence of legal right of the assessee in the said society the amount advanced cannot be treated as deemed income.

Highlight: When electrical installations are treated as plant and machinery the depreciation has to be allowed @ 25% as per provisions contained u/s 32

TMI Note: Capital Gain - transfer of right in the land or transfer of land itself - addition u/s 50C - Harassment to the honest tax payers

Highlight: Option to avail composition scheme under GST by electronically filing an intimation in FORM GST CMP-02 and FORM GST ITC-03 upto 30-9-2017 - See Rule 3(3A)

TMI Note: Does ICDS apply for the purposes of computing exemption u/s 11 to 13.

Highlight: Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

TMI Note: Certain ICDS provisions are inconsistent with judicial precedents. Whether these judicial precedents would prevail over ICDS.

Highlight: Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

News: Voluntary Reporting of Estimated Current Income and Advance Tax Liability

TMI Note: In case of conflict between ICDS and other specific provisions of the Income-tax rules, 1962 governing taxation of income like rules 9A, 9B etc. of the Rules, which provisions shall prevail.

TMI Note: Does ICDS apply to computation of Minimum Alternate Tax (MAT) u/s 115JB of the Act or Alternate Minimum Tax (AMT) u/s 115JC of the Act.

TMI Note: Where a term has not been defined under ICDS, nor under the Act, but has different interpretations given to it by the courts in tax cases, and in ICAI Accounting Standards, which interpretation would prevail while interpreting ICDS.

TMI Note: Whether the provisions of ICDS apply to a non-resident who claims the benefit of a double taxation avoidance agreement (DTAA).

TMI Note: In case any of the ICDS provisions is contrary to a circular or press release issued by the CBDT, which would prevail over the other.

TMI Note: ICDS-I requires disclosure of significant accounting policies and other ICDS requires specific disclosures. Where is the taxpayer required to make such disclosures specified in ICDS.

Notification: Income Computation and Disclosure Standards (ICDS) - New ICDS to be effective from AY 2017-18

News: RBI Reference Rate for US $

Highlight: GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods including for the provisional release thereof pending adjudication - HC

Highlight: Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the issue is wholly unsustainable in law - HC

Highlight: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

Highlight: Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service tax on the gross amount received - They cannot restrict their tax liability to only agency commission

Highlight: TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion - HC

Highlight: Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller refused to respond - notice would not be interfered with - HC

Highlight: Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society

News: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962 – comments and suggestions-reg.

|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version