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Case Laws
Showing 41 to 60 of 222 Records
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1989 (11) TMI 288 - ANDHRA PRADESH HIGH COURT
... ...
... ... ..... 978 decided by Sambasiva Rao, C.J. and Jeevan Reddy, J., on 19th September, 1978. Therefore, for the relevant year the present demand is totally without jurisdiction. The learned Government Pleader contends that under general law, every party has a power to resile from the agreement where the agreement was entered into under a mistake or by fraud. It may be mentioned that so far as statutory authorities are concerned, they have only such powers which are expressly conferred on them under the Act. If the powers are not conferred on them, they cannot unilaterally create a demand and try to enforce the same by way of collection of the amount demanded. If the authorities concerned are having any such rights or cause of action, they are free to approach the ordinary courts of the country. In the circumstances, we have no option but to quash the impugned demand. It is hereby quashed. The writ petition is accordingly allowed. No costs. Advocate s fee Rs. 150. Writ petition allowed.
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1989 (11) TMI 287 - SUPREME COURT
Whether 1,500 tents which were loaded in the railway wagons on October 14, 1968, at Jodhpur for delivery to respondent No. 5, the Commandant, C.O.D., Kanpur, under railway receipt No. 502671 were actually delivered to respondent No. 5?
Held that:- Appeal allowed. The judgments and the decree of the courts below in so far as they rejected the claims regarding the price of 224 tents and interest thereon are set aside. The plaintiff-appellant's claim for the price of the said goods as well as interest thereon at 6 per cent per annum for the period from January 1, 1969, to December 1, 1971, is hereby decreed. The appeal is thus allowed with costs quantified at ₹ 4,000. The claim for interest at 6 per cent per annum for the period January 1, 1972, till date of payment of amount unpaid is allowed.
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1989 (11) TMI 285 - SUPREME COURT
Whether sheep hair was an agricultural produce within the meaning of the said term as defined under section 2(a) of the Punjab Agricultural Produce Markets Act, 1961?
Held that:- Appeal dismissed. Sheep hair falls under the item No. 41 of the Schedule namely "wool" (oon) as contained in the English version and "oon" only as contained in the Hindi version of the Act. Sheep hair is consequently an agricultural produce within the meaning of the Act so that the various provisions therein with regard to agricultural produce are applicable to sheep hair also.
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1989 (11) TMI 273 - HIGH COURT OF ANDHRA PRADESH
Oppression and mismanagement ... ... ... ... ..... respondent No. 9 and respondent No. 3 are appointed as two assistant administrators to assist the administrator. Any opinion of the assistant administrators will be only advisory and the decision will be of the administrator. The assistant administrators will function under the control and directions of the administrator. The administrator will have a meeting with the assistant administrators at the registered office of the company at least once every week. The remuneration of the administrator is fixed at Rs. 5,000 per month tentatively. He will, in addition, be entitled to the use of the company s car and a telephone at his residence, the expenses to come out of the company s funds. It is open to any of the parties or the administrator to move this court for directions. The applications are ordered accordingly. Respondent No. 3 to pay the costs of these applications assessed at Rs. 5,000 to be shared equally between the petitioners and respondent No. 9, i.e., one half each.
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1989 (11) TMI 272 - HIGH COURT OF MADRAS
Shares warrants and entries in register of members ... ... ... ... ..... amouflage for enforcing the alleged rights of the petitioners as against another group of shareholders of the same company. Article 226 will not provide an arena for a fight between two private parties. In this case, the first respondent has been added as a party only to bring it within the scope of article 226 apparently. But, if the corporate veil is pierced and the real dispute is looked into, it is only between the writ petitioners on the one hand and the persons who seek to transfer their shares to strangers on the other. The basis of the claim of the petitioners is a right of pre-emption available to the members of the family which has to be established only before the appropriate forum in appropriate proceedings. That cannot be done in these writ petitions as it is a question of fact which requires evidence to be adduced before any finding is given thereon. In view of the above reasons, these two writ petitions are dismissed with costs. Counsel s fee Rs. 2,000 one set.
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1989 (11) TMI 258 - HIGH COURT OF BOMBAY
Winding up – Avoidance of transfer, etc., after commencement of ... ... ... ... ..... ompanies Act can make no difference to the legal position. The restitution to which the applicants are entitled is in the nature of a return of the deposit amount paid by them. They stand on the same footing as other ordinary creditors. There is also a dispute between the parties as to whether the amount of security deposit was in fact paid by the applicants to the company or not. According to the applicants, the payment of these amounts is reflected in the books of account of the company. Learned counsel for the official liquidator, however, has raised some doubt on this question. In these circumstances, it will be open to the applicants to file their claims for return of deposit made under the said agreements before the official liquidator. The official liquidator shall examine these claims. The claims, if established, shall be paid on the same footing as the claims of other unsecured creditors. It is ordered accordingly. There will be no other order on the judge s summons.
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1989 (11) TMI 257 - HIGH COURT OF CALCUTTA
Powers of Court to rectify register of members ... ... ... ... ..... I am unable to accept the contention of Mr. Mukherjee that the constituted attorney acted within the ambit of the power of attorney. The main thrust of the power and reading the document as a whole is for beneficial use and beneficial enjoyment for the petitioner. Can it be said that this transfer of shares and rectification has been effected for the beneficial use or beneficial enjoyment of the petitioner ? The answer is in the negative. It is to be noted that the relief as envisaged in the statute is discretionary and as such dependent upon the facts and circumstances of the matter under consideration. The decisions cited from the Bar in my view do not really advance the case any further and as such I need not dilate much on that score. In the view I have taken as above, the application for rectification thus succeeds and as such there shall be an order in terms of prayer (a) of the petition. The petitioner is entitled to the costs of this application assessed at Rs. 2,000.
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1989 (11) TMI 256 - HIGH COURT OF MADRAS
Power to close register of members or debenture holders ... ... ... ... ..... situate. The object of publication of the notice through advertisement as envisaged by the Act is to bring to the notice of the general public information regarding the closure of the register. The admitted non-availability of the Daily Official List of Stock Exchange Limited to the general public thus defeats the very object for which the Legislature enacted section 154 of the Companies Act. It is, therefore, futile to contend that the issuance of the information about the closure of the registers in the Daily Official List should be treated as if the information had been published in a newspaper having circulation in the district in which the registered office of the company is located. On facts, therefore, we find that there was a total non-compliance with the mandatory requirements of section 154 of the Companies Act, and, as such, the refusal to register the shares was grossly improper. The appeals, therefore, merit dismissal with costs as assessed by my learned brother.
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1989 (11) TMI 255 - HIGH COURT OF DELHI
Winding up – Avoidance of certain attachments, executions, etc. ... ... ... ... ..... was closed in the year 1984. Under section 529A of the Act, in the winding up of the company, the dues of the workers and debts due to the secured creditors are to be treated pari passu, and have to be paid prior to all other dues. The Corporation, in its reply, as well its counsel, during the course of argument, has given an undertaking to the court that, if any amount is found payable to any worker of the company, then, the same shall be paid by the Corporation in accordance with law. In view of this undertaking, I hold that if any amount is found due to any workman of the company, then, the same shall be paid by the Corporation in accordance with law immediately. The applicant has failed to make out any case for interference by this court into the sale already effected by the financial institutions in favour of the purchaser. Under the facts and circumstances, the application, being C. A. No. 89 of 1989, filed by the official liquidator, is dismissed. No order as to costs.
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1989 (11) TMI 230 - HIGH COURT OF DELHI
Meetings and proceedings - Proxies ... ... ... ... ..... s view of the matter, as what is proposed by the impugned rules, goes beyond what is required by the statute, the same is of no effect, and in view of the principles set out by Lord Denning in Bradbury v. London Borough of Enfield 1967 3 All ER 434 (CA), it is the law (Companies Act, 1956) which must prevail, and the members of the respondent company are entitled to vote by proxies which are in accordance with the form prescribed by Schedule IX of the Companies Act, 1956, and the petitioner is entitled to an injunction as sought, restraining the respondents from giving effect to rules 6(c), 7 and 8 of the Election Rules which have been framed by the respondent on August 4, 1988. At the request of the counsel for the respondent, Mr. G.L. Rawal, it is clarified that, for exercising the right of revocation, it is not necessary to use the printed form supplied by the company. I.A. No. 4157 of 1989 stands disposed of. Suit be listed before the Deputy Registrar on January 22, 1990.
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1989 (11) TMI 229 - HIGH COURT OF RAJASTHAN
Company when deemed unable to pay its debts ... ... ... ... ..... e petitioner, it was intimated to the petitioner that the respondent-company have never refused to make payment but it raised a dispute regarding the quality and quantity. Further, it appears from the letter/reply to the notice that a reference has been made therein to the discussion earlier had with the Executive Director, Shri A.K. Sureka, regarding the quality and quantity. The consignment said to have been received in a damaged condition was brought to the knowledge of the petitioner and, thereafter, it is given out that the petitioner assured of giving quality and quantity discounts and phase payment of the outstanding. I am of the opinion that a bona fide dispute has been raised and it cannot be said that the respondent-company is expected to pay the dues. The winding-up proceedings cannot be and are not a substitute for a remedy by way of a suit which the petitioner has and can always file for recovery of the amount. With these observations, this petition is dismissed.
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1989 (11) TMI 228 - HIGH COURT OF BOMBAY
Inter-Corporate investment ... ... ... ... ..... inter alia on the power of a company to utilise its surplus funds to buy over another company. It is meant to prevent a merger or amalgamation of two companies by the method of buying over shares without going through the procedure contemplated by section 371 onwards. The Gujarat High Court sanctioned the scheme of amalgamation even though it would have amounted to violation of section 372 had the section applied. In the present case, no such situation has arisen. There is only an alleged violation of section 372 in the past by the transferee-company relating to a totally separate transaction which has no connection with the present scheme of amalgamation. In the premises, petition No. 32 of 1989 is made absolute in terms of prayers (a) to (g ). Petition No. 33 of 1989 is made absolute in terms of prayers (a) to (f ). Costs of the official liquidator in petition No. 32 of 1989 are fixed at Rs. 300. Costs of the Regional Director in each of the petitions are fixed at Rs. 300.
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1989 (11) TMI 227 - HIGH COURT OF KERALA
Winding up - Preferential payments ... ... ... ... ..... liquidation), there will be a direction to the Official Liquidator to declare a further dividend in respect of the amount of Rs. 27 lakhs provisionally set apart as per the order of this court in M.C.A. No. 37 of 1989, to the workmen and to the Canara Bank under section 529A of the Companies Act. Before doing so, the liquidator will reimburse to the Canara Bank the amounts advanced by the bank to the liquidator and the expenses incurred by them which will be ordered separately. In M.C.A. No. 106 of 1988 and C.A. No. 478 of 1989 and A. No. 487 of 1989 in respect of Brunton and Company (Engineers) Ltd. (in liquidation), the liquidator is directed to declare a further dividend under section 529A of the Companies Act in respect of the sum of Rs. 25,59,526.50 to the workmen and to Canara Bank after reimbursing the Canara Bank amounts advanced by the bank to the liquidator and the expenses incurred by the bank which will be ordered separately. Applications disposed of accordingly.
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1989 (11) TMI 226 - SUPREME COURT
Shares warrants and entries in register of members, Transfer of Shares – Power to refuse registration and appeal against refusal, Powers of Court to rectify register of members
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1989 (11) TMI 201 - CEGAT, NEW DELHI
Sulphuric acid ... ... ... ... ..... e learned advocate for the respondents has also argued before us that without sulphuric acid urea could not be manufactured. The sulphuric acid was used for demineralisation of water and this is an essential part in the process of manufacture of urea fertiliser. This case is, therefore, clearly covered in favour of the respondents vide this Tribunal rsquo s Order No. 338-339/87C, dated 7-5-1987 reported in 1987 (30) E.L.T. 507 (Tribunal) on which reliance has been placed by the learned advocate. We do not find any justification to take a different view in the present case and we do not find it necessary to refer this to a Larger Bench as prayed by the learned DR. 5. emsp In the light of the above discussions, we uphold the decision of the Collector (Appeals) that the benefit of the notification was available in respect of the sulphuric acid used by the respondents in the manner stated above in the orders of the lower authorities. Hence, the appeal of the Revenue is dismissed.
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1989 (11) TMI 199 - CEGAT, NEW DELHI
Import - Consumer goods ... ... ... ... ..... sition of redemption fine of Rs. 3 lakhs and a penalty of Rs. 10, 000/- either was not called for or excessive, however does not assist the appellants at all. In the instant case the said Order No. 41/86 passed by the Deputy Collector of Customs on 24-10-1986 whereas in the instant case the adjudication order was passed by the Collector himself on 15-10-1986. It appears from the copy of the said order passed by the Deputy Collector that the impugned order dated 15-10-1986 passed by the Collector was not in the knowledge of the Deputy Collector. Needless to say that what we are now concerned with is not disciplining the Customs Authorities in their quasi-judicial conduct, but to consider whether the redemption fine and the penalty imposed in the instance case was called for or is excessive. On a careful consideration of the facts and circumstances of the case we do not think that redemption fine or penalty was not called for or excessive. 6. In the result we reject the appeal.
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1989 (11) TMI 198 - CEGAT, NEW DELHI
Regulators ... ... ... ... ..... ome complete. Therefore, when regulator is sold alongwith the electric fan, the regulator should be assessed at the same rate at which electric fan proper is assessable. If, however, a regulator only is sold without an electric fan, the regulator cannot be assessed at the rate applicable to electric fan because there is no fan sold. Regulator is, then, chargeable to duty according to the tariff entry. It has, therefore, been necessary to prescribe separate rate of duty for regulator in the notification to take care for such a situation. Accordingly, this being the position, we hold that the separate rate of duty at 15 ad valorem prescribed against Srl. No. 3 sub-item (3) (regulators for electric fan) in the notification is applicable only when regulator is sold without electric fan. Otherwise regulator is assessable alongwith the electric fan, this being an integral part of the fan. 5. In view of the foregoing discussions, we set aside the impugned order and allow the appeal.
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1989 (11) TMI 197 - CEGAT, NEW DELHI
Regulators ... ... ... ... ..... ome complete. Therefore, when regulator is sold alongwith the electric fan, the regulator should be assessed at the same rate at which electric fan proper is assessable. If, however, a regulator only is sold without an electric fan, the regulator cannot be assessed at the rate applicable to electric fan because there is no fan sold. Regulator is, then, chargeable to duty according to the tariff entry. It has, therefore, been necessary to prescribe separate rate of duty for regulator in the notification to take care for such a situation. Accordingly, this being the position, we hold that the separate rate of duty at 15 ad valorem prescribed against Srl. No. 3 sub-item (3) (regulators for electric fan) in the notification is applicable only when regulator is sold without electric fan. Otherwise regulator is assessable alongwith the electric fan, this being an integral part of the fan. 5. In view of the foregoing discussions, we set aside the impugned order and allow the appeal.
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1989 (11) TMI 196 - CEGAT, NEW DELHI
Regulators ... ... ... ... ..... ome complete. Therefore, when regulator is sold alongwith the electric fan, the regulator should be assessed at the same rate at which electric fan proper is assessable. If, however, a regulator only is sold without an electric fan, the regulator cannot be assessed at the rate applicable to electric fan because there is no fan sold. Regulator is, then, chargeable to duty according to the tariff entry. It has, therefore, been necessary to prescribe separate rate of duty for regulator in the notification to take care for such a situation. Accordingly, this being the position, we hold that the separate rate of duty at 15 ad valorem prescribed against Srl. No. 3 sub-item (3) (regulators for electric fan) in the notification is applicable only when regulator is sold without electric fan. Otherwise regulator is assessable alongwith the electric fan, this being an integral part of the fan. 5. In view of the foregoing discussions, we set aside the impugned order and allow the appeal.
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1989 (11) TMI 195 - CEGAT, NEW DELHI
Classification ... ... ... ... ..... nto existence a new and different article commercially known as lsquo French Coffee rsquo . In the said case also there was no chemical change in the process of manufacture. The Hon rsquo ble High Court held that Central Excise duty was leviable on the French Coffee. While taking this view, the Hon rsquo ble High Court considered and followed several judgments of Hon rsquo ble Supreme Court as discussed in paragraph 64 of the judgment. 7. In the light of the above discussions, the orders of the lower authorities classifying the product under Item 15A(1) is set aside and the appeal is allowed subject to classification of the product under Item 15AA of the Central Excise Tariff with benefit of any exemption notification, if admissible. The Assistant Collector of Central Excise should work out the duty liability accordingly. In the absence of any evidence of suppression or mis-statement of facts, the Department rsquo s cross-objection does not stand. It is, therefore, dismissed.
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