|
Advanced Search Options
Case Laws
Showing 121 to 140 of 467 Records
-
1997 (9) TMI 457 - HIGH COURT OF GUJARAT
Winding up - Inability to pay debts ... ... ... ... ..... ssion of a company petition under section 433(e) may prove disastrous even leaving aside the advertisement order which would still more pernicious for even at that stage after hearing the company it has to be decided........whether it is prima facie shown that company is plainly commercially insolvent or in other words it s existing and probable assets would be insufficient to meet the existing liability. It has also been noticed that courts ought not to order the petition to stand over for lengthy period. On these premises, it is not possible to accede to request of the learned counsel for the petitioner that either petition be admitted and advertise- ment of notice be deferred or in the alternative the petition be ordered to stand over for sufficiently long period and be considered after obtaining report about outcome of revival efforts. With these precincts, the petition deserves to be dismissed and I do dismiss it. There shall be no orders as to costs. SCL q MARCH 5, 1998
-
1997 (9) TMI 456 - HIGH COURT OF ALLAHABAD
Boards sanction to be required for certain contracts in which directors are interested ... ... ... ... ..... arate legal entity and, therefore, no tax and other dues outstanding against the company can be realised from the personal assets of the petitioner. So far as this proposition is concerned, that cannot be disputed in law. In para. 15 of the counter-affidavit, the respondents simply averred that the petitioner is personally liable to pay arrears of sales tax outstanding against the company, because he happens to be one of the directors in the company. No law in support of such contention is shown by standing counsel. Rather, the settled law is that for the recovery of the dues outstanding against the company, the respondents cannot proceed against the personal assets of a director of the company, unless that is permitted by a specific provision of law or by an agreement between the parties. In the result, the petition succeeds and is allowed. The respondents are restrained from realising arrears of tax outstanding against the company from the personal assets of the petitioner.
-
1997 (9) TMI 453 - HIGH COURT OF RAJASTHAN
Prospectus -Criminal liability for mis-statement ... ... ... ... ..... acts to the notice of the court as may justify the cancellation of the order of taking cognizance of the case by him. Section 204 of the Code gives such powers to the magistrate and it is, therefore, always proper for an accused to put up his grievance against an order summoning him as an accused before the magistrate in the first instance. It was observed that in such circumstan- ces the accused should not rush to the High Court. 11. Regard being had to be entire fact situation of the case, I am of the considered view that no case for quashing of the proceedings pending against the accused under section 63 has been made out. The question of limitation would be considered at the time of the trial itself. Since the question of consideration of limitation would involve question of taking of evidence, I would leave the matter at the discretion of the trial court at the appropriate stage. 12. In the result, the revisional application under section 482 of the Code stands rejected.
-
1997 (9) TMI 437 - HIGH COURT OF DELHI
Annual general meeting, Managing Director - Tenure of appointment ... ... ... ... ..... nary allotments, the yardstick has to be reasonableness and fairness of action. If the procedure is not laid down, it only means a reasonable and just procedure from the viewpoint of a reasonable average man. This has to be the standard while considering the exercise of discretionary power of the Government in the matter of grant of allotments concerning the public property. Non-adherence to these principles has necessarily to result in quashing of impugned action. We are unable to accept the plea urged by some counsel equating these allotments with that of favour for a bed in a Government hospital or a railway ticket or a domestic gas connection or alike. 25. In view of the above, it will not be correct to make sweeping statements as to who should step out and who should come in. I will not say anything more on this question except to reiterate that exercising restraint has its own advantages and in discretion must be avoided. 26. Petition disposed of. SCL q FEBRUARY 5, 1998
-
1997 (9) TMI 436 - HIGH COURT OF KARNATAKA
Disinvestment ... ... ... ... ..... d that if the offer had been made in favour of the employees of any PSE immediately after the first disinvestment, and before the second disinvestment, the offer price would have been much less. These aspects and other relevant matters will have to be taken note of while fixing the offer price to the employees. We are sure that the Government will evolve a satisfactory and appropriate scheme for successful and meaningful implementation of disinvestment. 45. Though we find that the petitioners are not entitled to the reliefs in the manner sought, we direct the Government to evolve a scheme keeping in view what we have stated in the course of this order (paras 28 to 31 above) as expeditiously as possible. We hasten to add that we are not suggesting formulation of a new policy nor change of the existing policy. All that we are suggesting is an effective and meaningful implementation of the policy in accordance with its letter and spirit. This petition is disposed of accordingly.
-
1997 (9) TMI 434 - HIGH COURT OF KERALA
Compromise and arrangements ... ... ... ... ..... mple powers to the Court to give such directions as it may consider necessary for the proper working of the compromise. The purpose of the provision of section 392 is to provide for effective working of the compromise or scheme or arrangement and the Court has got ample power to exercise continuous supervision. If any obstacles, difficulties or impediments arise the Court is also empowered to remove them for the proper working of the compromise or arrangement or scheme. To effectuate this purpose the High Court has got widest power as held by the Supreme Court in the rulings referred to above. Under these circumstances, the contention of the tenant is unsustainable and only to be rejected. The petition is, therefore, allowed. The official liquidator is directed to give vacant possession of the tenanted premises to the Company. The tenant is given three months time from 1-9-1997 to surrender the premises either to the official liquidator or to the Company. SCL q DECEMBER, 1997
-
1997 (9) TMI 432 - HIGH COURT OF ALLAHABAD
Procedure at sale ... ... ... ... ..... been deposited by the said purchaser within time and, therefore, the sale be confirmed in their favour under rule 272 of the Companies (Court) Rules, 1959. Having regard to the reasons given above and in view of the fact that the entire sale consideration of Rs. 1.5 crores has been deposited with the official liquidator, the sale in favour of Chauri Chaura Steels Ltd. can be confirmed under rule 272 of the Companies (Court) Rules. However, as this court is of the view that the said party should be directed to pay interest at 15 per cent. (simple) on the over-due amount of the first instalment, the report of the official liquidator shall be put up for orders for confirmation of sale when the said amount of interest is deposited. The orders for handing over possession shall also be passed after the orders for confirmation of sale are passed by this court. As a result, Application No. A-31 is rejected and the Application No. A-33 is disposed of with the observations made above.
-
1997 (9) TMI 414 - CEGAT, MUMBAI
Evidence - Statement - Retraction of - Smuggling ... ... ... ... ..... finding of the Magistrate that the appellant had not been ill treated while in the custody of the Department, the retraction of the statement on the ground that it was obtained by treating him loses significance. The Collector has found that it is unbelievable that silver can be hidden stored by others in open jetty. It is difficult to accept that anyone would leave his fishing craft unguarded or unattended beyond a very short distance when it is in a harbour for repair. Consideration of safety could require some kind of guard or safety on the boat. The appellant rsquo s claim that the silver was kept on board by someone else is also not established and is nothing more than an unsupported assertion. He also used the expired identity card of his brother. We feel that in the facts and circumstances of the case preponderance of probabilities of the case show that the appellant was guilty of violation of provisions of Section 112 (b) of the Customs Act. Hence appeal is dismissed.
-
1997 (9) TMI 413 - CEGAT, CHENNAI
Valuation - Captive Consumption ... ... ... ... ..... w the decision of Dai Ichi Karkaria case of the full Bench is distinguished from the facts of the case. In view of the fact that it is now a settled principle that the credit taken on the raw materials is not to be added to the assessable value and by following the full Bench decision of the Tribunal cited supra we hold that the impugned order in this respect is not correct. However, it was contended by the learned Advocate that the department wanted to add the freight element for movement of the inputs, cost of transportation of the raw materials to the job worker rsquo s premises. The learned Advocate stated that this is not permissible. But the learned JDR stated that since this cost is incurred and the freight element is required to be added to the assessable value. 6. emsp In the circumstances, we hold that this element of freight which is incurred is required to be added to the assessable value. We order accordingly. 7. emsp The appeal is disposed of in the above terms.
-
1997 (9) TMI 398 - CEGAT, NEW DELHI
Alloy - Stainless steel - Penalty ... ... ... ... ..... bsequently issued show cause notice. 7. emsp In the show cause notices, it had been alleged that there was mis-declaration in the composition but we find that composition as relied upon by the importers had been accepted. Further with regard to valuation also, their plea in reply to show cause notices had been accepted. In the adjudication order, we do not find that any firm ground had been made out to establish the charge of mis-declaration on the part of the importers. 8. emsp Insofar as the clearing agent is concerned, we find that in the show cause notice there was no proposal for imposing penalty thereon. 9. emsp In view of the above discussion, while we confirm the order with regard to classification and valuation, we do not find any ground for imposing penalty on the importers and the clearing agents. The part of the order which relate to imposition of penalty on the importers and the clearing agent is set aside. The rest of the order is confirmed. Ordered accordingly.
-
1997 (9) TMI 389 - CEGAT, KOLKATA
SSI Exemption - Loan licensee - Manufacturer ... ... ... ... ..... sion and control and not under the appellant rsquo s supervision and control. The only thing is the appellant lent its factory to the loan licencee it is in this concept that a loan licencee is allowed to manufacture in its own right and it is in this context the Gujarat High Court held that a loan licencee would be a manufacturer of medicines entitled to the benefit of Notification No. 175/86 so long as he fulfils the condition of Notification No. 175/86. Those conditions are fulfilled in our view because it is stated on record that the loan licencee in the present case was availing of the benefit of Notification No. 85/85 prior to introduction of Notification No. 175/86 and, therefore, he was entitled to benefit of latter Notification in terms of Para 4 thereof. Consequently, we are of the view that the impugned order has been correctly passed by the lower appellate authority in overall facts and circumstances of the case. Consequently, we dismiss the appeal of the Revenue.
-
1997 (9) TMI 382 - CEGAT, MUMBAI
Confiscation of currency ... ... ... ... ..... ant in the statement under Sec. 108 of Customs Act, even according to Respondent. There is no satisfactory evidence to the effect that Rs. 90,000/- Indian Currency is the sale proceeds of smuggled goods for confiscation under Sec. 121 of Customs Act. From the above para, it is clear that in the absence of proof that Rs. 90,000/- is the sale proceeds of smuggled goods, it must be redeemed to the appellants from whom seized. Impugned order is silent in that regard. So under these circumstances, the contention of the appellant has to be upheld. Accordingly it is upheld. Point raised is answered in the affirmative. In view of this finding, we pass the following order. ORDER For the reasons mentioned above, the appeal is allowed in part with consequential relief and impugned order is modified holding that Indian Currency Rs. 90,000/- is not the sale proceeds of smuggled goods, and the appellant is entitled to the refund of the same, and the rest of the impugned order is confirmed.
-
1997 (9) TMI 373 - CEGAT, NEW DELHI
Project Import ... ... ... ... ..... within the meaning of Chapter 98.01 of the Customs Tariff read with Notification No. 230/86 and hence project import rate of duty should be applied to them. The Tribunal held that these wheel sets not to be considered as auxiliary equipment needed for initial setting up of projects. 10. emsp The Larger Bench of the Tribunal in the case of National Aluminium Co. Ltd. v. Collector of Customs (supra) held that the port facility conveying system is not covered by the project import 11. emsp In the present case the appellant want to avail the benefit of project import in respect of components and raw material for the manufacture of wagons under the project import and pleaded that the wagons will be used for transportation of coal from the coal mine to the thermal plant, therefore, the present case is fully covered by the decision of the Tribunal in case of Texmaco Ltd. v. C.C. (supra). In view of the above discussion we do not find any merit in the appeal. The appeal is dismissed
-
1997 (9) TMI 366 - CEGAT, MADRAS
Natural justice ... ... ... ... ..... as to how no finding is given by the adjudicating officer in this regard with respect to the use of certificates twice as mentioned by the department which only goes to show that the adjudicating authority without looking into the evidence on record has passed the order in a routine manner and therefore the order is not sustainable in the eyes of law. We accordingly set aside the same and remand the matter to the adjudicating authority for a fresh de novo adjudication proceedings with a direction to take into consideration the evidences produced by the department after affording an opportunity of personal hearing to the respondents and decide the matter in accordance with law. During the adjudication proceedings, if the respondents produce any new evidence, then same should be made known to the department so as to meet the new evidence in this respect. With these observations, we make it clear that all the issue are left open. Accordingly, these appeals are allowed by remand.
-
1997 (9) TMI 362 - CEGAT, CALCUTTA
... ...
... ... ..... ng with special and specific subjects, general interpretation must be construed as excluding the matters specifically provided for in the specific provision dealing with these matters. However, we do not agree with the above proposition as the two provisions of law are not overlapping each other and playing a separate role in separate arenas. It has been discussed in the preceding paragraph that the provisions of Section 11A of the Act would come into play in cases where the respondents rsquo refunds are sanctioned simpliciter and the provisions of Section 35E would apply where adjudication orders are passed granting refund. 15. emsp In view of the foregoing discussions, the Order passed by the Commissioner (Appeals) is set aside and the appeal filed by the Department is allowed on this limited issue. As the Commissioner (Appeals) has not given any decision on the merits of the case, the matters remanded to him for his decision on merits. Appeal is disposed of in above terms.
-
1997 (9) TMI 361 - CEGAT, CALCUTTA
Demand - Show cause notice - Modvat - Demand - Limitation ... ... ... ... ..... s the nature of the goods and their inability to take proper care and caution about the same, is of no help to the appellants. Accordingly, I hold that the appellants do not have any case on merits also. 10. emsp Shri Mookherjee, learned Advocate in his rejoinder had referred to one fact that the discrepancy in respect of the input balance, was adjusted by them in their RG-23A Part-I register after the issuance of the 1990 show cause notice, with the counter-signature of their jurisdictional Superintendent of Central Excise. No material is before me to show as to how much quantity was adjusted and whether the same is covered by the show cause notice issued in the year, 1993 which is the subject matter of the present proceedings before me. However, while rejecting the appellants rsquo appeal on merits as well as on time-bar, I direct the authorities below to look into such adjustments, if any, and requantify the demand of duty accordingly. Appeal is disposed of in above terms.
-
1997 (9) TMI 360 - CEGAT, NEW DELHI
Modvat - Capital goods
... ... ... ... ..... bility of Modvat credit on measuring and testing equipment. We find that pressure measuring instrument is a measuring equipment. The Tribunal in this case held that measuring and testing equipment will be eligible for Modvat credit. We agree with this decision of the Tribunal and hold that Modvat credit will be admissible on pressure measuring instrument as capital goods. (xxi) emsp Junction Box. It was argued before us that junction box is a protection device for the electrical and other equipment of the plant for safety and to avoid the chance of fire. We hold that, looking to the function of the junction box, junction boxes installed in the factory will be eligible for the benefit of Modvat credit as capital goods. 5. emsp No other item was argued before us. Therefore, this order will be applicable only to the aforementioned items. 6. emsp In view of the above findings, the impugned orders are modified to the extent stated above and the appeals are disposed of accordingly.
-
1997 (9) TMI 349 - CEGAT, CALCUTTA
Demand - Modvat - Limitation - Penalty ... ... ... ... ..... duty on brass sheets and brass circles provided they satisfy the authorities below namely, Assistant Collector of Central Excise, that the same quantity of zinc relevant to the credit of Rs. 39,33,792.76 has been utilised by them towards the manufacture of brass sheets and brass circles and which has been cleared on payment of duty. Now, we come to the question of penalty. On the basis of admission of the appellant and as per our findings above, there is no doubt that the appellant has committed breach of the relevant Rule regarding utilization of the credit. The appellant is, therefore, liable to some penalty. Having regard to the overall facts and circumstances of the case, we are of the view that a penalty of Rs. 2.5 lakhs in the present facts and circumstances of the case would meet the end of justice. The penalty is imposable under Rule 173Q(1)(bbb). Appeal is disposed of in the above manner. 5. emsp Since Appeal has been disposed of, Stay Petition also gets disposed of.
-
1997 (9) TMI 345 - CEGAT, CALCUTTA
... ...
... ... ..... down of HZL at Jamshedpur. M/s. HZL, Jamshedpur, has therefore, given the goods on the basis of attested photocopy of the Gate Pass with an endorsement thereon on the reverse of the said aforesaid attested photocopy. The duty paid character of the goods is, therefore, required to be furnished by HZL. Therefore, the requisite evidence has to be produced by the appellant from HZL to establish that the goods delivered by them to the appellant are duty paid on the basis of the records maintained by them. Mere attestation of photocopy of the concerned Superintendent is not in my view enough evidence that the goods are duly duty paid. They have to prove the goods being duty paid on the basis of other collateral evidence as available in the hands of the appellant. I, therefore, remand the matter to the original authority for fresh adjudication in the light of the evidence to be adduced by the appellant to prove duty paid character of the said goods. Appeal is thus allowed by remand.
-
1997 (9) TMI 344 - CEGAT, CALCUTTA
Eligible to exemption under Notification No. 62/86-C.E. as amended by Notification No. 104/86-C.E.
............
|
