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Showing 1 to 20 of 8104 Records

  • 2017 (11) TMI 1183 - MADRAS HIGH COURT

    Tacel Sanitaryware Private Limited, B. Vridhagiri, V. Balaji, R. Meikandanathan, P. Sivaraman, S. Selvirathna, V. Lalitha Versus Abdul Latheef Meera Sahib, A. Mohamed Ashhar, V. Balaji, R. Meikandanathan, P. Sivaraman, S. Selvirathna, V. Lalitha, M/s. Tacel Ceramics Pvt. Ltd., M/s. Tacel Pipes Pvt. Ltd., Abdul Latheef Meera Sahib, A. Mohamed Ashhar, Tacel Sanitarywares Private Limited, B. Vridhagiri, R. Meikandanathan, P. Sivaraman, S. Selvirathna, V. Lalitha, M/s. Tacel Ceramics Pvt. Ltd., M/s. Tacel Pipes Pvt. Ltd., Abdul Latheef Meera Sahib, A. Mohamed Ashhar, M/s. Tacel Sanitaryware Private Limited, B. Vridhagiri, V. Balaji, M/s. Tacel Ceramics Pvt. Ltd., M/s. Tacel Pipes Pvt. Ltd.

    Oppression and mismanagement - application to the Company Law Board for appropriate relief qua oppression - Held that - removal of directors - The Company Law Board gave a specific finding bringing the case under Sections 397 and 398 of the Act, thus exercised the powers under Section 402 of the Act. There is no dispute on the memorandum of understanding entered into. It has been entered into by the second appellant on behalf of the first appella....... + More

  • 2017 (11) TMI 893 - GUJARAT HIGH COURT

    In The Matter of The Official Liquidator Versus Pinakin Surendra Shah

    Voluntary winding up of the company - Held that - The Court, having heard learned advocate Mr.Hasurkar and having gone through the present report, finds that there appears to be a satisfaction reached by the Official Liquidator that the Voluntary Liquidator had submitted all requisite records and documents for voluntary winding up of the company and had also complied with relevant provisions of the Act for such purpose and that the affairs of the....... + More


    Som Distilleries and Breweries Ltd. Versus State of M.P. and another

    Rejecting the proposal submitted by the petitioner on the OTS policy - accepting one time settlement as submitted by the petitioner after winding up order was passed - Held that - From perusal of the record, it reveals that respondent NO.2 has extended the facility of ICD to the petitioner of the different amount. The petitioner-company could not repay the said amount to respondent No.2- Corporation in time. Respondent No.1/State has framed one t....... + More

  • 2017 (11) TMI 723 - KERALA HIGH COURT

    Koshy George Versus Divisional Head

    Initial Public Officer (IPO) or Stock Market Launch - Non adherence to ASBA process - allotment of shares - Held that - On an examination of the contents of the statement filed on behalf of the fourth respondent, it become indisputable that the equity shares applied for by the petitioners under the Rights Issue and the additional shares applied for by them have not been yet alloted and that the amounts expended by the petitioners for application ....... + More

  • 2017 (11) TMI 662 - MADRAS HIGH COURT

    Disc Assets Versus SEBI

    Validity of Cash down land purchase scheme and scheme of land purchase by instalments - SEBI had initiated action against the company for violation of Sections 11-AA and 12(1-B) of the SEBI Act as the company had not obtained a certificate of registration as required under Section 12(1-B) of the SEBI Act - Held that - Having regard to the number of depositors and the huge stakes involved, it would be a mammoth task to identify the investors, iden....... + More

  • 2017 (11) TMI 487 - DELHI HIGH COURT

    Jai Kumar Arya & Ors. Versus Chhaya Devi & Anr.

    Removal from the Directorship of the Company - obligation to disclose the reasons for removing a person from Directorship of a Company prior to the EGM where such proposal is to be considered - Held that - In our view, no manner of doubt can remain, that the reasons for removal of Plaintiff No 1, in the present case, were required to be communicated, or made known, to her, only before the proposal, for removing her from office as Director of the ....... + More

  • 2017 (11) TMI 165 - GUJARAT HIGH COURT

    Nipun Praveen Singhvi Versus Union of India & 3

    Direction to appoint a TECHNICAL MEMBER at National Company Law Tribunal, Ahmedabad Bench - Held that - At the first instance, Notification was issued by constituting Bench with two members viz. Member (Judicial) and Member (Technical) at Ahmedabad. But subsequently, exercising powers conferred under proviso to Section 419 of the Companies Act, 2013, order dated 12.08.2016 is passed constituting Bench at Ahmedabad with only Member (Judicial). Rea....... + More

  • 2017 (10) TMI 1196 - DELHI HIGH COURT

    M/s. Monish Uppal & Associates Versus Regional Director, North Region & Ors.

    Removal of an auditor prior to expiry of his term - maintainability of the application filed by respondent no.2 before the RD on the ground of limitation - Held that - It is the petitioner s case that the extraordinary General Body meeting was called on 01.10.2015 and the General Body meeting was held on 26.10.2015, wherein a special resolution was passed to remove the petitioner as the auditor. However, the application in Form ADT-2 was made on ....... + More

  • 2017 (10) TMI 1068 - DELHI HIGH COURT

    JVG Finance Ltd. (In Liqn.) Versus JVG Financing And Services Limited

    Winding up petition - Held that - It is apparent that the business of the respondent company has been carried on fraudulently, deceptively and with malafide intentions, and therefore, the fit case to lift the corporate veil of the respondent company. As per the affidavit dated 14.02.2012 filed in this Court by Shri V.K.Sharma, CMD of JVG group Companies in CP 265/1998, it was stated by him that all the properties of the respondent companies have ....... + More

  • 2017 (10) TMI 1067 - ANDHRA PRADESH HIGH COURT

    Dr. Reddy's Research Foundation Versus Ministry of Corporate Affairs

    Default in filing the annual returns and consequent disqualification of the Directors to rectify the defect - Held that - In the light of the fact that a defaulting company is allowed to rectify the defect by filing the returns which have not been filed earlier, the natural corollary of the same would be that the designated/competent authority is required to take the same into consideration. As the filing has to be done through e-platform, the sa....... + More

  • 2017 (10) TMI 982 - DELHI HIGH COURT

    In Re: The Matter of Gip Investment Advisors India Private Limited (In Vol. Liqn.)

    Members Voluntary winding up - Held that - Upon the scrutiny of the records submitted by the Voluntary Liquidator, Official Liquidator, Delhi attached to this Court is satisfied that the Company, its directors and the Voluntary Liquidator have complied with the provisions of Sections 484 to 497 of the Companies Act 1956 read with Companies(Court) Rules, 1959 as they relate to the Members Voluntary winding up of a company and also in view of the f....... + More

  • 2017 (10) TMI 918 - DELHI HIGH COURT

    Deutsche Trustee Company Ltd. Versus Tulip Telecom Ltd.

    Directions to the Official Liquidator to issue instructions to Axis Bank to release in favour of the applicant 98.181879 of the amount received from Madhya Pradesh Excise Department (MPED) lying in Escrow account - Held that - The circumstances reveal the work was actually completed by the applicant herein and the role of the respondent company was merely to obtain the contract from Madhya Pradesh Government and to hand it over to the applicant. ....... + More

  • 2017 (10) TMI 917 - DELHI HIGH COURT

    M/s Pratap Technocrats Pvt. Ltd. Versus M/s Bharat Sanchar Nigam Limited

    Bid determination - formulation of tender conditions - whether the BSNL s decision that the petitioner did not possess the necessary eligibility is arbitrary? - Held that - This court is of opinion that there is no infirmity with the BSNL s approach and stand. Besides, clause 4.1.1 which emphasizes that bidders must be companies, special information to Bidders, Clause 1.3 (which says Bidder shall mean Bidding Company submitting the Bid. Any refer....... + More

  • 2017 (10) TMI 669 - GUJARAT HIGH COURT

    In The Matter Of The Official Liquidator Versus Biren D. Shah

    Winding up the Company voluntarily - Held that - Voluntary Liquidator is directed to submit the copy of the publication of final meeting in Gazette to the Official Liquidator as early as possible. The explanation rendered by the learned counsel appearing for respondent that there is a obvious mistake in the chart of assets, the said explanation is accepted. - From the facts and details stated hereinabove, it transpires that all necessary formalit....... + More

  • 2017 (10) TMI 465 - RAJASTHAN HIGH COURT

    Official Liquidator of M/s Swastik House Leasing Limited (in Liquidation) Versus Shri Manik Chand Agarwal (Deceased) through his Legal Representatives, Shri Dharmendra Agarwal S/o Late Shri Manak Chand Agarwal, Shri Rajendra Agarwal S/o Late Shri Manak Chand Agarwal, Smt. Meena Agarwal D/o Sh. Manak Chand Agarwal, W/o Sh. Rajendra Bansal, Ms Meena Agarwal D/o Manik Chand Agarwal, W/o Sh. Rajendra Bansal

    Guilty of misfeasance and malfeasance in relation to the Company - committing breach of trust in discharge of the duties towards the Company - liability under the provisions of Section 543 - Held that - Admittedly, the case has been set up on the basis of report prepared by the Chartered Accountant whose statements have been quoted herein above. The present case is a case of voluntary winding up of the Company and not at the instance of any of it....... + More

  • 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

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