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Companies Law - High Court - Case Laws

Showing 1 to 20 of 8448 Records

  • 2018 (2) TMI 1419 - GUJARAT HIGH COURT

    Winding up of the Company - Held that - In the case on hand, the respondent has raised a bonafide disputes as regards to the debt and in facts of the case, the proceedings under Sections 433 and 434 of the Companies Act, 1956 is not an alternative method of recovering debt which is disputed only because the plant of the respondent-Company is closed and therefore, it cannot be said that the respondent-Company has neglected to pay on a statutory de....... + More


  • 2018 (2) TMI 1332 - DELHI HIGH COURT

    Winding up petition - proof of outstanding dues - neglection to pay the balance due - Held that - A bare reading of the aforesaid Warranty Clause clearly demonstrates that the same was applicable only for any manufacturing defect, bad workmanship or quality for a period of 15 months from the date of supply or 12 months from the date of commission, whichever was earlier. The Warranty Clause does not in any manner cover the short supply. The Warran....... + More


  • 2018 (2) TMI 1331 - GUJARAT HIGH COURT

    Scheme of dissolution - Held that - There appears to be proper compliance of the provisions of Section 497 of the Act, finds that the prayers sought for in the present report could be granted. - In view of above, the company is ordered to be dissolved in terms of Section 497 of the Act. The Ex-directors of the company are directed to pay ₹ 10,000/- being expenses relating to filing of the present report to the office of the Official Liquida....... + More


  • 2018 (2) TMI 1267 - GUJARAT HIGH COURT

    Winding up petition - Held that - The Court, having heard learned advocate Ms. Chandarana for the appellant and having considered the contents of the report with the documents annexed therewith especially liquidator s Statement of Account for the windup, finds that the prayers made for dissolution of the company could be granted in exercise of powers under Section 497 of Act. - In view of the above M/s. Kelur Investments Private Limited (the Comp....... + More


  • 2018 (2) TMI 1193 - GUJARAT HIGH COURT

    Dissolution of company - Held that - As stated in the present report, there are no assets and properties of the company nor any fund is available in the account of the company and, therefore, that the Registrar of the Companies as well as other Government Departments have no objection if the company is allowed to be dissolved. - Court having heard learned advocate for the Official Liquidator and having considered the contents of the present repor....... + More


  • 2018 (2) TMI 1192 - GUJARAT HIGH COURT

    Dissolution of company in voluntary winding up seeked - Held that - As there are no assets and properties nor any fund is available in the account of the company and that the Registrar of the Companies as well as other Government Departments have no objection if the company is allowed to be dissolved. - The Court, having heard learned advocate for the Official Liquidator and having considered the contents of the present report with the documents ....... + More


  • 2018 (2) TMI 1191 - BOMBAY HIGH COURT

    Decree against the Defendants to jointly and severally pay to the Plaintiffs the outstanding principal amount along with interest accrued thereon - whether the present suit filed on 27th October, 2015 is barred by the Law of Limiation? - Held that - Mentioned paragraph in the e-mail dated 12th April, 2013 (Exhibit-BB-8 at page 374 of the Plaint) constitutes an acknowledgment on the part of Om Sai Motors that they are liable to pay ₹ 5 Crore....... + More


  • 2018 (2) TMI 1190 - BOMBAY HIGH COURT

    Winding up petition - Power of Registrar to strike defunct company off register - Held that - Just because the name of the company is struck off the register under Section 248 of the Companies Act, 2013, that will not come in the way of the Court to pass an order winding up of company. - Therefore, even under the Companies Act, 1956, if the Registrar of Companies was to strike off the name of the company from the register, that would not affect t....... + More


  • 2018 (2) TMI 847 - DELHI HIGH COURT

    E-auction - non-deposit of the security money and request for adjustments - withdrawal of LOIs - Held that - The impugned letters of the NDMC withdrawing the LoIs is based on justifiable grounds, inter alia violation of the conditions of the NIT by the Petitioners (such as, non-deposit of the security money and request for adjustments not provided for in the NIT, in the case of Honshu), and engaging in business relationships with black-listed com....... + More


  • 2018 (2) TMI 652 - GUJARAT HIGH COURT

    Symbolic possession of the premises by OL - removal of seal and notice pasted on the premises - Held that - As stated by the Official Liquidator and as submitted by the learned advocate Mr.Acharya for the Official Liquidator, when the company in liquidation does not claim ownership of the premises, the Official Liquidator shall be required to remove the seal and the notice pasted on the premises for taking symbolic possession of the premises. The....... + More


  • 2018 (2) TMI 335 - GUJARAT HIGH COURT

    Dissolution of the company in liquidation under section 481 - Held that - There are no assets and properties of the company in liquidation and only ₹ 12,801/- is in the balance of the company s account, the Official Liquidator shall not be required to do any further act for winding up of the company and therefore the company could be dissolved and the Official Liquidator could be discharged and relieved of his duty to function as liquidator....... + More


  • 2018 (2) TMI 334 - GUJARAT HIGH COURT

    Company under liquidation expended for construction of superstructures on lands - whether superstructures up for sale which respondent no.3 purchased during the auction proceedings? - Held that - It is universally accepted that the applicant is the owner of the lands bearing survey nos. 340/2 and 340/3 and not the company in liquidation.The superstructures standing on such lands were put up by the company at its cost. - The labourers of the compa....... + More


  • 2018 (2) TMI 27 - GUJARAT HIGH COURT

    Dissolution of firm - Held that - When the relevant provisions of Section 497 of the Act appear to have been complied with and when the affairs of the company are stated not to have been conducted in a manner prejudicial to the company, its members, as also to the public interest, the company could be ordered to be dissolved in terms of Section 497 of the Act. However, while ordering dissolution of the company under Section 497 of the Act, the Vo....... + More


  • 2018 (2) TMI 26 - GUJARAT HIGH COURT

    Challenging the impugned order passed by the NCLT in arbitration proceedings - Held that - Though the statutory remedy of filing appeal under Section 421 of the Companies Act is available to the petitioners for challenging the impugned order passed by the NCLT, the said remedy would not be effective or efficacious alternative remedy in the facts and circumstances of the case. As stated herein above the NCLT vide the impugned order has refused to ....... + More


  • 2018 (1) TMI 1223 - MADRAS HIGH COURT

    Application filed by the appellant u/s 536(2) to validate the sale of the property in its favour by the company in liquidation - Held that - The preponderance of probability is that VGP was always aware of the fact that the state of health of Neptune has precarious and in order to save the promoter-directors of Neptune from difficulty and, perhaps, to further their interest agreed to enter into the impugned sale transactions. - The impugned sale ....... + More


  • 2018 (1) TMI 1181 - BOMBAY HIGH COURT

    Winding up petition - Held that - Though the solvency of the company is not a standalone defense in the winding up proceedings, it is still a relevant criterion to be considered along with other factors which are in favor of the company. It is not the case that the Respondent Company has lost substratum or has become commercially insolvent. - The Respondent had alleged breach of the agreement on the part of the Petitioner and raised its own claim....... + More


  • 2018 (1) TMI 1180 - KERALA HIGH COURT

    Winding up petition - Held that - After going through the materials on record, this Court is convinced that no viable option is there for the revival of the Company. All efforts taken by the Company have been turned to be failure. The Managing Director of the Company, Sri. R. Hari, who was interested for the revival of the Company, is also now no more. No other effective schemes are before this Court. The matter has been pending before this Court....... + More


  • 2018 (1) TMI 1095 - BOMBAY HIGH COURT

    Offences by companies - applicants are arraigned as accused in Securities and Exchange Board of India (SEBI) - Held that - The documents, record and averments in the complaint, justify the rejection of the application of discharge of applicants. - In the present case, it is noted that the words in charge of are missing in the complaint, however, reading the existing averments in the complaint read with adjudication order, prima facie makes out a ....... + More


  • 2018 (1) TMI 877 - DELHI HIGH COURT

    Removal of the company from the Register of Companies - Condonation of Delay Scheme-2018 eligibility - Held that - The request of the petitioners made before us is bonafide. Given the fact that the action of the respondents for striking off the name of the company from the Register of Companies maintained by the respondent no.2 is itself pending consideration before the NCLT, the petitioners deserve to be fairly given an opportunity to avail the ....... + More


  • 2018 (1) TMI 876 - DELHI HIGH COURT

    Disregard to the law and the principles of natural justice by NCLT - application seeking initiation of contempt proceedings - not framing the formal charge or not communicating in any manner the gravamen of the allegations on which the petitioners are to answer the charge of contempt - Held that - Undoubtedly, after the facts have been gathered and process initiated and particularly in the event of cognizance eventually being taken of contempt un....... + More


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