|
Advanced Search Options
Case Laws
Showing 101 to 120 of 578 Records
-
1998 (3) TMI 585 - SUPREME COURT
DEEMED SALE — TRANSFER OF RIGHT TO USE GOODS — PORT TRUST PERMITTING IMPORTERS AND EXPORTERS TO USE CERTAIN MACHINERY
-
1998 (3) TMI 578 - HIGH COURT OF PUNJAB AND HARYANA
Winding up – Power of court to assess damages against delinquent, directors, etc. ... ... ... ... ..... on 458A of the Companies Act would also be available to the official liquidator. This view was expressed by the Andhra Pradesh High Court in Arkay Chit and Commercial Trading Co. P. Ltd. (In liquidation), In re 1982 52 Comp Cas 174 . For the reasons aforestated, I decide this issue as well in favour of the petitioner and against the respondent. In view of the findings of all the aforestated issues in favour of the petitioner and against the respondent, I have no hesitation in coming to the conclusion that as a result of commission and omission and breach of duty on the part of the respondent in intentionally not recovering the dues of the company based on exhibits P.W.-1/7 and 1/35 are the acts of misfeasance which render them liable to restore the money of the company. Consequently, the respondents are hereby directed to pay a sum of Rs. 3,10,000 with 12 per cent. interest from the date of the institution of the petition till realisation. The petition is accordingly allowed.
-
1998 (3) TMI 577 - HIGH COURT OF ALLAHABAD
winding up petition ... ... ... ... ..... he winding up can only be filed before this Court. I, therefore, do not find any substance in the said submission. 6. The learned counsel has also raised the plea of limitation. The Court had also considered the said submission in the order dated 29-8-1997 and had repelled the same. The said order has become final and not been chal-lenged. Therefore, I do not find any force with regards to the same either. 7. As a result, from the facts and the circumstances of the case, this Court is satisfied that the respondent-company Parasrampuria Trading and Finance (P.) Ltd. is unable to pay its debts, consequently, a case is made out for the winding up of the company and it is hereby wound up. The Official Liquidator, High Court is appointed the Liquidator. The petitioner shall take steps in accordance with rule 113 of the Rules, for advertising this order in Form No. 53. The office is directed to comply with rule 109 and 111 of the Rules. 8. In order accordingly. SCL q MARCH 20, 1999
-
1998 (3) TMI 576 - HIGH COURT OF KARNATAKA
Appropriate Government, Lifting of corporate veil ... ... ... ... ..... t the corpora- tion carries on its business under the authority of the Central Govern- ment and, therefore, it is the appropriate Government to make a reference of an industrial dispute to the Labour Court under section 10. Hence, we are in respectful agreement with the view so taken by the learned Single Judge and we hold that the appropriate Government within the meaning of section 2(a)( i), for the purpose of making a reference of an industrial dispute concerning the corporation to a Labour Court under section 10, is the State Government and not the Central Government . 42. As a result, we hold that the references in question pending before the respondent-labour court are valid references in law and it has the jurisdiction to try and adjudicate upon them. Therefore, we do not find any good ground to interfere with the impugned judgment. 43. In the result, for the reasons stated above, we find no merit in these appeals. Therefore, they are dismissed. SCL q NOVEMBER 20, 1999
-
1998 (3) TMI 575 - HIGH COURT OF GUJARAT
Winding up - Notice for ... ... ... ... ..... e are mere oral assertions made without any foundation of fact. The appellant-company has not been able to refer to any material even to remotely justify this assertion. To our mind, this is merely an attempt in an indirect manner to bring on record fresh material, which was never placed before the learned Company Judge. 8. For the reasons aforesaid, we find that the contention in law sought to be asserted in the present appeal is not sustainable, and the assertions of fact sought to be made are not justified from any material on record. This appeal is, therefore, dismissed. 9. At this stage, however, the learned counsel for the appellant states that the appellant wishes to approach the Supreme Court in respect of the present order and accordingly an opportunity should be afforded to it. We, therefore, direct the stay of the operation of the present judgment upto 21-4-1998 with a specific understanding that no extension of this period will be entertained. SCL q APRIL 20, 1998
-
1998 (3) TMI 573 - HIGH COURT OF GAUHATI
Oppression and mismanagement ... ... ... ... ..... h is discernible, on the conclusion drawn from the facts. For the reasons stated above, I do not find any merit in the appeals and accordingly, both the appeals are dismissed. In terms of the direction issued by the CLB, both the groups shall now furnish their bids in sealed cover indicating therein the price of the shares at which they are prepared to purchase the shares of the other group within a month from receipt of this order. The appellants as well as respondents in the appeals are accordingly directed to appear before the CLB, Principal Bench, New Delhi, on 22-4-1998, and offer and advance their bids in a sealed cover as per the direction of the CLB who shall thereafter fix a date for opening the bids in presence of the parties. 35. Subject to the observations and directions hereinabove, both O.J. (Company Appeal) No. 42 of 1997 and OJ. (Company Appeal) No. 44 of 1997 are dismissed and the interim order of this court stands dissolved. 36. No. costs. SCL q JUNE 5, 1999
-
1998 (3) TMI 570 - HIGH COURT OF GUJARAT
Winding up - Notice for ... ... ... ... ..... prayer to allow him to file review application has passed an order dated 19-2-1998 that the company Court is to deal with the amount deposited by the applicant. The learned advocate for the respondent wants me to hand over the said amount to him but when the order of winding up is there, it is not possible to prefer only one creditor. He can move the Official Liquidator to get the amount but it is not possible for this Court at this stage to disburse the amount and direct the same to be paid to the respondent in the original petition. 10. Thus the present application stands substantially rejected. The amount deposited by the present applicant in this Court after the order of the appellate bench in OJ Appeal No. 4 of 1998 be invested in FDR in any of the Nationalized Bank by the Registrar of this Court in his name and said amount together with the interest accrued thereon be subsequently handed over to the OL for disbursing the same amongst the creditors. SCL q APRIL 20, 1999
-
1998 (3) TMI 545 - HIGH COURT OF ORISSA
Share capital - Reduction of ... ... ... ... ..... . 7,20,00,000 divided into 72,00,000 ordinary shares of Rs. 10 each on which an aggregate amount of Rs. 7,07,24,500 is paid up towards capital and an aggregate amount of Rs. 12,75,500 is due to be received towards capital in clearance of call in arrears. 10. The company petitioner is directed to take necessary steps to deliver to the Registrar of Companies, Orissa, a certified copy of the order including the minutes as approved within a period of ten days from today. Consequentially, alteration in the memorandum of association of the company petitioner proposed by the special resolution passed in accor dance with section 189 at the general meeting held on 29-9-1997, be and the same is hereby confirmed. The memorandum of association of the company as altered by this order shall be duly set out in terms of rule 42. 11.The Act case is accordingly disposed of. 12.Urgent certified copy of the order on proper application shall be granted by tomorrow 31-3-1998. 13.Order accordingly.
-
1998 (3) TMI 544 - HIGH COURT OF BOMBAY
Amalgamation ... ... ... ... ..... scheme sufficiently takes care of all the contingencies including the claims of the creditors. The contribution, as contemplated having been made, substan- tial funds, are now available with the transferee company to satisfy any claim that may be made against the transferee company. Hence, the Company Petition deserves to be allowed in terms of prayer clause (a) with a clarification that the scheme shall bind the creditors of the transferor company and other persons who are interested in the affairs of the transferor company only upon appropriate orders being passed by the Calcutta High Court in that behalf. The scheme shall become operative only after the same is granted and to the extent, it is granted by the High Court at Calcutta. 22. With this modification, the Company Petition is disposed of. However, there shall be no order as to costs. In view of the disposal of the Company Petition, the Company Application is also disposed of as infructuous. SCL q SEPTEMBER 20, 1998
-
1998 (3) TMI 543 - HIGH COURT OF PUNJAB AND HARYANA
Winding up – Appeals from orders ... ... ... ... ..... in the filing of the appeal should be condoned. The proposition of law laid down in Rafiq v. Munshilal, AIR 1981 SC 1400, that a party should not suffer for misdemeanour or inaction of counsel is unexceptionable but that cannot be applied in the present case to condone the delay in view of the total failure of the applicant to give the bare minimum details to prove the existence of sufficient cause. The second decision relied upon by Shri Chibbar only shows that the court should adopt a liberal approach while adjudicating applications for condonation of delay. However, there is nothing in that decision which can justify acceptance of the applicant s prayer in view of our conclusion that it has failed to show sufficient cause for condonation of delay. Hence, the application for condonation of delay is rejected. As a logical corollary of the dismissal of the application for condonation of delay, Company Appeal No. 17 of 1997, filed by the applicant, is dismissed as time-barred.
-
1998 (3) TMI 541 - HIGH COURT OF KERALA
Winding up – Application of insolvency rules ... ... ... ... ..... off towards the future instalments, the claimant is not entitled to interest on the principal amount as claimed in the calculation statement. Hence, the contention that the claimant is entitled to a total amount of Rs. 7,009 inclusive of interest at 12 per cent. per annum on Rs. 6,500 from August 11, 1992, to April 6, 1993, and after setting off the amount due to the respondent a balance amount of Rs. 1,947 with interest thereon at 12 per cent. per annum from April 7, 1993, is due to the claimant is not sustainable. After setting off the amount of Rs. 5,139 towards the principal amount of Rs. 6,500 the claimant is entitled to the balance amount of Rs. 1,361. The claimant is also entitled to interest at 12 per cent. per annum on that amount from December 11, 1995, the date of default onwards. In view of what is stated above, a decree for Rs. 1,361 with interest thereon at 12 per cent. per annum from April 7, 1993, is passed in favour of the claimant and against the respondent.
-
1998 (3) TMI 538 - HIGH COURT OF DELHI
Winding up - Just and equitable ground ... ... ... ... ..... lary and commission was due to Mr. Narender Nath Nanda for three years upto 30-6-1988 and dividend was also payable to him upto to the said period. On our direction, the respondent had placed on record not only the ledger entries of the company but has also the vouchers through which the payment has been made to Mr. Narender Nath Nanda. We find that some of these vouchers have not only signed and prepared by Mr. Narender Nath Nanda but he has also received the amount from the company. In appeal, we, however, will not like to go into this question as to whether any amount was due and payable from the respondent and we leave it open to Mr. Narender Nath Nanda to make appropriate application for claiming the arrears, if any, before the executing court. 36. In view of the foregoing, we do not find any merits in this appeal and the same is, accordingly, dismissed. However, in the facts and circum-stances of the case, we leave the parties to bear their own costs. SCL q JULY 5, 1998
-
1998 (3) TMI 536 - HIGH COURT OF MADRAS
Oppression and mismanagement ... ... ... ... ..... oard of directors is elected. All the records of the company filed into court forming part of this company petition shall be made available to the receiver by the registry whenever a request is made by him. Receiver is permitted to take share register and such other records as may be required for the purpose of convening the AGM. 37. The respondents shall not operate any bank account in the name of the scompany or enter into any transaction or carry on any correspondence in the name of the company with immediate effect. 38. After the general meeting is held, and after the board of directors is constituted, the receiver shall handover the custody of all the books and records of the company to the newly elected Board. The receiver shall not alienate any of the assets of the company or encumber the same without the leave of the court. The respondents shall provide all the assistance to the receiver to identify and take charge of all the assets of the company. SCL q MARCH 5, 1999
-
1998 (3) TMI 535 - HIGH COURT OF BOMBAY
Compromise or arrangements ... ... ... ... ..... o the merits. The conduct of the petitioner has not been above board. Deliberate efforts have been made by the petitioner to mislead the Court. Keeping the aforesaid state of affairs in view, this Court would be justified in taking a very serious view of the matter. However, since the petition is liable to be dismissed on merits as well, the Court will refrain from taking such a course. It must, however, be reiterated and emphasised that the lenience of the Court cannot be taken for granted for all times to come. This note of caution must necessarily be sounded to all who approach the Court for discretionary relief. 24. Having considered all the facts and circumstances as narrated above. I am of the considered opinion that the submissions made by Mr. Thakkar to the effect that the scheme is not bona fide deserve to be accepted. In view of the above I am unable to approve the scheme. The Company petition as well as the company application are, therefore, dismissed with costs.
-
1998 (3) TMI 534 - HIGH COURT OF MADRAS
Share certificates - Time limit for issue of ... ... ... ... ..... ublic at large was given the main consideration and therefore, it was held the Registrar of Companies gained knowledge only from the date of inspection or the date of the receipt of the Chemical report and the complaint was held to be in time. In the present case, admittedly, no application has been sent by any of the shareholders that by the delay, he was put to difficulty or any loss was caused to him. The explanation that there is no adequate machinery to conduct periodical inspection, in my opinion, does not appear to be a convincing, answer to excuse the delay in filing of the complaint, especially when the Registrar of Companies cannot be the aggrieved party under section 113. There- fore, I am of the view that no error manifest on the fact of the record had been committed by the Trial Magistrate or any miscarriage of justice had occurred. Hence, I find no reason to interfere with the order of the Trial Magistrate. 12. In the result, the revision fails and is dismissed.
-
1998 (3) TMI 533 - HIGH COURT OF MADHYA PRADESH, INDORE BENCH
Penalty - For wrongful withholding of property ... ... ... ... ..... eld by them after the demise of the employee concerned. 8. It was, however, argued by the learned counsel for the respondent that the property in question does not, in fact, belong to the petitioner-company. If that is so, the respondent shall be free to demonstrate the same before the trial court. It is not open for this Court in the present petition to dwell upon the factual aspect of the case. The decision impugned was passed solely on the ground of maintainability of the complaint and as held above, the view taken by the courts below is not in conformity with the law laid down by the Supreme Court in Smt. Abhilash Vinodkumar Jain rsquo s case (supra ). 9. I, thus, allow the petition and quash the order dated 28-2-1996, passed by the Sessions Judge, Dewas, as also the order dated 28-11-1995, passed by the Chief Judicial Magistrate, Dewas. The case shall now go back to the Chief Judicial Magistrate, Dewas, who shall re-admit and proceed with the same in accordance with law.
-
1998 (3) TMI 527 - HIGH COURT OF PUNJAB AND HARYANA
Winding up – Suits stayed on winding-up order ... ... ... ... ..... to oppose this petition, I find no legal impediment in granting the permission prayed for by the petitioner-bank. It is a settled principle of law that permission to prosecute a petition or legal proceedings before the forum of competent jurisdiction can be sought by an applicant subsequent to the filing of such petition/application. Consequently, this petition is allowed, The petitioner-bank is granted permission to prosecute its application filed before the Debt Recovery Tribunal, Jaipur, in accordance with law. This is, however, without prejudice to such contentions which may be raised on behalf of the respondent-company. It is made clear that this petition is conditional, the condition being that the petitioner-bank would not take out execution of the decree/recovery certificate issued by the Debt Recovery Tribunal, Jaipur, against the assets of the respondent-company without prior permission of the company court. Consequently, this petition is allowed in the above terms.
-
1998 (3) TMI 526 - UTTAR PRADESH STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Deficiency in service ... ... ... ... ..... ional Savings Certificates (6th Issue) to the date of filing of the complaint before the District Forum, Hardoi under section 12 of the Consumer Protection Act, 1986 and in addition the appellant shall also pay Rs. 5,000 to Jwala Prasad Agrawal for Bansal Transport Agency and Rs. 1,000 to the Adhyaksh Samaydoot Sahkari Shram Samvida Samiti as compensation within a period of one month. If the above amounts due are not paid with in the time allowed, complainants shall further be entitled an interest 18 per cent per annum till the actual date of payment from due date. The impugned order dated 5-1-1993 passed by the District Forum, Hardoi is modified accordingly. 9. No order as to costs. 10. This order shall govern both the appeals and shall form part of the Appeal No. 456 of 1992 and its certified copy shall be placed on Appeal No. 457 of 1993. Copy of the order be made available to the parties and District Forum concerned. Appeals disposed of accordingly. SCL q OCTOBER 20, 1998
-
1998 (3) TMI 525 - SUPREME COURT
Acquisition of the undertaking of the Indore Textiles Ltd. by the Indore Textiles Limited (Upkaram Ka Arjan Aur Antaran) Adhiniyam, 1986 challenged
Held that:- Appeal dismissed. The provision for taking over of the undertaking is merely incidental to the acquisition of the undertaking and is not in conflict with section 20 of the IDR Act. Furthermore, the extended period of management with the Central Government was coming to end on February 11, 1986, and the impugned Ordinance was issued one day before that, i.e. , on February 10, 1986. This was obviously done with a view that there should be no break and the management of the undertaking should continue with the Government even after February 11, 1986. The so called overlapping of the management for one or two days, i.e., February 10, 11, 1986, would not and cannot affect the validity of the Adhiniyam.
-
1998 (3) TMI 508 - CEGAT, NEW DELHI
Laviest - Benefit of exemption under Notification Nos. 211/69-C.E. and 37/85-C.E. available ... ... ... ... ..... d into small ampoules or vials and then frozen at a controlled rate to -150oC. The ampoules or vials are then stored in a liquid nitrogen refrigerator. rdquo ldquo Culture Collections. When micro-biologists first began to isolate pure cultures, each microbiologist kept a personal collection of those strains having special interest. Subcultures of some strains were often sent to other micro-biologists other subcultures were received and added to the scientist rsquo s own collection. rdquo 20. emsp As a matter of fact, it is well-known that cultures of micro-orga-nisms in/on culture medium are often mailed, sent and bought and sold, packed in special vials called lsquo Eppendorf Tubes rsquo or lsquo Culture Tubes rsquo . In fact, these days even high school students are told about these aspects and the way they are sent or received as evident from the following photograph appearing in the lsquo Biology Text Book rsquo prescribed by NCERT for Kendriya Vidyalaya Schools of CBSE -
............
|
