Advanced Search Options
Companies Law - High Court - Case Laws
Showing 1 to 20 of 9305 Records
More information of case laws are visible to the Subscriber of a package i.e:-
Party Name, Court Name, Date of Decision, Full Text of Headnote & Decision etc.
- 2021 (2) TMI 914 - KARNATAKA HIGH COURT
PIL - Seeking for a direction against respondents No. 1 to 10 therein to forthwith constitute a Multi- Disciplinary Investigation Team to investigate and prosecute respondent No.11 therein (Mr. A.H. Premji and his Associates) based on the representations dated January 30, 2020 and February 3, 2020 submitted by the petitioner - HELD THAT:- In the PIL filed before the Delhi High Court, petitioner has prayed for a direction against the Ministry of Finance, Ministry of Corporate Affairs and Reserve Bank of India to decide within four weeks that nature of actions required in law to be taken by them in respect of complaints dated November 1, 2016, March 14, 2017 and April 28, 2017. In paragraph No.14 of the said writ petition, petitioner has averred that the very same three Companies namely, Vidya Investment and Trading Company Pvt. Ltd., Regal....... + More
- 2021 (2) TMI 843 - ALLAHABAD HIGH COURT
De-activation of the Director Identification Number - Section 164(2) of the Companies Act, 2013 - HELD THAT:- Similar issue decided in the judgment of the Gujarat High Court in [2019 (1) TMI 27 - GUJARAT HIGH COURT] where it was held that The writ petition for challenge to the de-activation of the Director Identification Number are allowed. It was de-activated on account of dis-qualification in one company effecting Director Identification Number for the other companies. The opposite parties are directed to activate the Director Identification Number for use for other company. The opposite parties would however be at liberty to take legal action against the petitioner for any statutory default or non-compliance of the provisions of the Act of 2013.
- 2021 (2) TMI 753 - GUAJART HIGH COURT
Recovery action by secured creditors and financial institutions, who extended financial help to the original borrowers / guarantors - action under section 29 of the State Financial Corporation Act, 1951 - HELD THAT:- A part of the sale consideration was converted into loan and the said purchaser - M/s. Shree Industries Ltd. also defaulted and the said purchaser / borrower approached the BIFR / AAIFR under the provisions of the Sick Industrial Companies (Special Provisions) Repeal Act, 1985, as it then existed and while the proceedings were pending before the BIFR / AAIFR, a new law in the form of the Insolvency and Bankruptcy Code, 2016 came to be enacted by the Parliament and the proceedings regarding insolvency Resolution / Recovery from the defaulting corporate debtor on its winding-up were to be taken up by the National Company Law Tr....... + More
- 2021 (2) TMI 402 - ALLAHABAD HIGH COURT
De-activation of the Director Identification Number - Section 164(2) of the Companies Act, 2013 - HELD THAT:- Similar controversy was raised in other High Courts and after considering the issue at length, the Gujarat High Court decided batch of petitions led by Special Civil Application No. 22435 of 2017 by its order dated 18.12.2018 [2019 (1) TMI 27 - GUJARAT HIGH COURT] where it was held that The writ petition for challenge to the de-activation of the Director Identification Number are allowed. It was de-activated on account of dis-qualification in one company effecting Director Identification Number for the other companies. The opposite parties are directed to activate the Director Identification Number for use for other company.
- 2021 (2) TMI 257 - MADRAS HIGH COURT
Investigation of affairs of the petitioner/ CSITA by the SFIO - opinion not formed as envisaged under Section 210 of Companies Act - section 212 of Companies Act, 2013 - HELD THAT:- The said order is on the basis of the report of the Registrar of Companies dated 13.12.2017 filed under section 208, which was filed, without conducting any inspection or enquiry as provided under Section 206 / 207 and hence, the said report cannot be construed as a report under Section 208 of the Act, 2013. That apart, an opportunity of being heard as contemplated under Section 206(4) was not provided to the petitioner / CSITA, before filing the report dated 13.12.2017. It is also contended that the petitioner / CSITA has not been served with a copy of the report dated 13.12.2017, which is in violation of the principles of natural justice. Hence, it is prayed....... + More
- 2021 (2) TMI 256 - CALCUTTA HIGH COURT
Freezing of Bank Account - applicability of the RBI Circulars of March 27 and May 23, 2020 - Counsel argues that the opinion of the RBI, as expressed in the present writ petition, cannot be a determinant of the independent assessment of the effect of the Circulars by the court - Whether there was a concluded OTS scheme between the parties? - HELD THAT:- The materials on record, as referred to by the parties, clearly indicate that there was a concluded OTS scheme between petitioner no.1 and the respondent no.2-Bank as on August 19, 2019. The Bank’s letter dated August 19, 2019 assumes particular importance in this context. However, admittedly, the petitioners failed to honour such scheme. Instead, petitioner no. 1 alleged deviation from the original proposal on the bank’s part, vide letter dated August 26, 2019. Interestingly, ....... + More
- 2021 (2) TMI 59 - ALLAHABAD HIGH COURT
De-activation of the Director Identification Number - Section 164(2) of the Companies Act, 2013 - HELD THAT:- Similar controversy was raised in other High Courts and after considering the issue at length, the Gujarat High Court decided batch of petitions in [2019 (1) TMI 27 - GUJARAT HIGH COURT] where it was held that the Court is of the opinion that the action of the respondents in deactivating the DINs of the petitioners- Directors along with the publication of the impugned list of Directors of "struck off" companies under Section 248, also was not legally tenable. Of course, as per Rule 12 of the said Rules, the individual who has been allotted the DIN, in the event of any change in his particulars stated in Form DIR-3 has to intimate such change to the Central Government within the prescribed time in Form DIR-6, however, if ....... + More
- 2021 (2) TMI 58 - MADRAS HIGH COURT
Disqualification of the petitioners as Directors - Section 164(2)(a) of the Companies Act, 2013 - Allegation that the Directors has not submitted financial statements for three consecutive financial years - opportunity of hearing not given to petitioner - HELD THAT:- The issue raised in this writ petition was considered by the Hon'ble Division Bench of this Court in the case of Meetgelaveetil Kaitheri Muralidharan Versus Union of India & Another [2020 (10) TMI 595 - MADRAS HIGH COURT] where it was held that The case on hand stands on the same footing. In the instant case also, no notice was given to the petitioner before disqualifying him as Director of M/s. Aventa Technologies Limited. The impugned order passed by the second respondent disqualifying the petitioner as Director of M/s. Aventa Technologies Limited under Section 164(2)(a) of the Companies Act, 2013 is hereby set aside - Petition allowed.
- 2021 (1) TMI 869 - DELHI HIGH COURT
Jurisdiction - power to entertain the present suit - approval of dependent cards and Green Cards to the children of UCPs as also upgrading of Green Cards to UCP - interpretation of Article 13 (3) (b) of the Articles of Association - petitioners claim that the way the said article is interpreted gives rise to inequitable classification - HELD THAT:- The suit at the instance of an individual shareholder, alleging the infringement of a right for an action and the majority shareholders being opposed to the memorandum and article of association, cannot be said to be an imperfect suit liable to fail on the parameters of Order 7 Rule 11 of the Code. Mere reference of more than 3100 members does not, ipso facto, raise a presumption that the suit is not maintainable in absence of any leave under Order 1 Rule 8 of the Code. Section 9 of the Code of....... + More
- 2021 (1) TMI 817 - ALLAHABAD HIGH COURT
Validity of de-activation of the Director Identification Number - invocation of Section 164(2) of the Companies Act, 2013 - seeking direction to activate the Director Identification Number allotted to the petitioner - HELD THAT:- Similar controversy was raised in other High Courts and after considering the issue at length, the Gujarat High Court in GAURANG BALVANTLAL SHAH S/O BALVANTLAL SHAH VERSUS UNION OF INDIA [2019 (1) TMI 27 - GUJARAT HIGH COURT]. The Special Civil Application has been allowed. Therein also, the name of the petitioner was struck off from the list of Director of various companies. The publication of which was made under Section 248 of the Act of 2013. A direction to activate the Director Identification Number of the petitioner forthwith has been given, if not activated so far. It was however with the liberty to take l....... + More
- 2021 (1) TMI 816 - CALCUTTA HIGH COURT
Seeking modification and/or clarification and also for further direction in support of the interim orders earlier passed - Seeking direction that the voting in relation to resolution no. 5 and 6 of the notice dated 1st July, 2019 for convening the Annual General Meeting of Birla Corporation Ltd. be stayed - HELD THAT:- From Section 247 it appears that a probate Court also takes the responsibility to administer the properties as left by the deceased and to preserve the status quo of such properties left by the Will through Administrator Pendente lite and such Administrator Pendente Lite shall be subject to the immediate control of the Court and shall always act under the Court's direction by which it has been appointed. In the present case such Administrator Pendenti Lite was appointed consisting of three members. Two nominated by plai....... + More
- 2021 (1) TMI 522 - MADRAS HIGH COURT
Disqualification of Directors - Seeking to direct the respondents to permit the petitioners to get re-appointed as Directors of any Company or appointed in any other Company without any hindrance - HELD THAT:- The issue involved in these writ petitions is no more a res integra. It is to be stated that the Registrar of Companies (RoC) has been disqualifying the Directors under Section 164(2)(a) of the Companies Act, 2013 by order dated 08.09.2017. Another list was published in the website of the first respondent on 01.11.2017 disqualifying the Directors. Yet another list of Directors were disqualified on 17.12.2018 by the RoC. The Hon'ble Division Bench in MEETHELAVEETIL KAITHERI MURALIDHARAN, KAMAL ANEESMOHAMED, SATHISH KUMAR GOPAL, GOVINDASAMY BALASUBRAMANIAM, PAARI SENTHIL KUMAR, PAARI DHANALAKSHMI, VERSUS UNION OF INDIA, THE REGIST....... + More
- 2021 (1) TMI 452 - DELHI HIGH COURT
Restoration of name of petitioners in the Register of Companies - non-filing of financial statements and annual returns for three consecutive financial years - section 252 of Companies Act - Disqualification of petitioners form acting as petitioners - deactivation of DIN - Section 164 and 167 of the Companies Act, 2013 - HELD THAT:- In furtherance of the purpose of this scheme, directors of struck off companies who seek to be appointed as directors of other/new companies, ought to be provided an opportunity to avail of this scheme, provided that they have undergone a substantial period of their disqualification. The scheme clearly seeks to provide a fresh start for directors of defaulting companies who seek appointment in other companies or wish to start new businesses. Therefore, if a substantial period has passed since the disqualificat....... + More
- 2021 (1) TMI 350 - CALCUTTA HIGH COURT
Disqualification of Director - Non filing of annual returns - Scope of the circular - Validity of action of including the petitioner in the list of Directors of Companies who had defaulted in filing Annual Returns - sections 164 and 167 of the Companies Act, 2013 - petitioner has submitted that, all High Courts for different reasons have taken the view that defaults prior to April 2014 cannot be taken into consideration and in support of such contention, he has relied upon MUKUT PATHAK & ORS., YOGESH KHANTWAL, AARTI KHANTWAL, AND VINEET WADHWA VERSUS UNION OF INDIA AND ANR. [2019 (11) TMI 319 - DELHI HIGH COURT] - petitioner has relied upon a judgment in SUBHAS KUMAR BISWAS, BANKIM KUMAR BISWAS, GAUTAM KUMAR BISWAS, SANJAY DAS, RAMESH KUMAR AGARWAL, RAMKRISHNA DAS, SUBHAM AGARWAL AND ANOTHER, VIJAY KUMAR SINGHAL AND ANOTHER, RADHEYSHY....... + More
- 2021 (1) TMI 317 - KERALA HIGH COURT
Disqualification to act as the Directors/office bearers of respondent - seeking restraint on respondent from functioning as Directors of respondent - whether the writ petition is maintainable, whether the Directors of the Yogam have defaulted in filing annual returns and whether there is an automatic disqualification of the Directors of the Yogam for re-appointment as the Directors of the Yogam? - HELD THAT:- Section 164(2) makes it clear that no person who is or has been a Director of a company which has not filed financial statements or annual returns for any continuous period of three financial years shall be eligible to be reappointed as Directors of that company for a period of five years from the date on which the said company fails to do so. Section 167 mandates that the office of a Director shall become vacant in case a Director i....... + More
- 2021 (1) TMI 258 - CALCUTTA HIGH COURT
Disqualification of Director - deactivation of DIN - effect of Section 164(2)(a) and the proviso to Section 167(1)(a), as introduced by the 2014 Amendment, prospective, retrospective or retroactive in nature. Whether there is any scope for giving opportunity to the defaulting company or its directors to represent against the disqualification under Section 164, read with Section 167 of the 2013 Act? - HELD THAT:- A clear reading of Section 164(2) and Section 167(1)(a), both with the corresponding provisos (as amended) leaves no scope of any discretion on the part of the authorities in case of a company incurring the defaults as contemplated therein. It is well-settled that the rules of natural justice can only be applied if an opportunity of hearing/representation is of relevance and affects the outcome of the procedure. In the absence of ....... + More
- 2021 (1) TMI 240 - KERALA HIGH COURT
Writ appeal against writ petition entertained by the Ld. Single Judge - private parties - mismanagement and oppression of majority shareholders - whether writ petition is maintainable under Article 226 of the Constitution of India, when a party pursues multiple remedies? - company petitions nine in number were pending before the NCLT - Holding AGM and filing of financial documents without without following the prescribed procedure - Appellants apprehended that the 2nd respondent has either forged or has caused to be forged the signatures of the majority shareholders with the intention to suggest that the financial statements have been approved by the shareholders at the Annual General Meeting, in the respective years. - HELD THAT:- the writ court ought not to have entertained W.P.(C) No. 14341 of 2020, when the dispute is purely civil in ....... + More
- 2021 (1) TMI 239 - KERALA HIGH COURT
Disqualification of petitioners - permission to petitioners to file Financial Statements and Annual Return for the pending financial years, by removing the "strike off" status of the company and activating the DIN of the petitioners - section 164(2) of Companies Act, 2013 - HELD THAT:- The petitioners have not produced any request made by them before the respondents in this behalf. In case the petitioners approach the 2nd respondent seeking an activation of the DIN and DSC for the purpose of uploading Form STK-2, the 2nd respondent shall take up the application and pass appropriate orders in accordance with law on the same within a period of two weeks from its receipt. The petitioners shall produce a copy of this judgment before the 2nd respondent for compliance. Petition disposed off.
- 2021 (1) TMI 194 - RAJASTHAN HIGH COURT
Disqualification of Directors under section 164(2)(a) of the Companies Act, 2013 - seeking direction to use their Director Identification Number (DIN) and Digital Signature Certificate for the purpose of filing their return - HELD THAT:- This Court, as an interim measure, directs the respondents to reactivate the Director Identification Number (DIN) of the petitioner(s) and Digital Signature Certificate to enable the petitioner(s) to file necessary annual return and also to discharge their statutory obligations - The interim order, passed by this Court, will remain subject to final outcome of the present writ petition.
- 2021 (1) TMI 193 - CALCUTTA HIGH COURT
Maintainability of application - availability of alternative remedy - Restoration of the name of the petitioner in the Register of the Companies, West Bengal - section 252(3) of the Companies Act, 2013 - HELD THAT:- This Court in exercise of power under Article 227 of the Constitution of India can interfere with an order of a Tribunal or Court if there are violation of principles of natural justice, error of jurisdiction or error on the face of the record or violation of fundamental rights. Just because there may be a mistake in the order impugned or a different view was possible could not be good grounds for interference with under Article 227 of the Constitution of India in the existence of an alternative remedy. In this case, exceptions provided in several judicial decisions with regard to interference under Article 227 of the Constitu....... + More