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Case Laws
Showing 101 to 120 of 492 Records
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1998 (2) TMI 464 - SUPREME COURT
Refund of the earnest money rejected - Held that:- Appeal partly allowed. The bank is a secured creditor and there is nothing to show that it had made the application for and on behalf of the general body of creditors. Their entitlement to damages and the extent of loss suffered by them, even if they are held entitled to claim damages on that count, is yet to be decided. In such circumstances, the court having not confirmed the sale and cancelled the bid of the appellant, ought not to have rejected the claim of the appellant except in respect of the earnest money deposit of Rs. 5 lakhs. The High Court was, therefore, not right in withholding the refund of the remaining amount of Rs. 9 lakhs along with the interest accrued thereon at the instance of the Syndicate Bank. If the bank is of the view that it has suffered any loss as a result of wrongful act of the appellant it will be open to it to adopt an appropriate remedy for claiming damages. Keeping that right of the bank open we allow this appeal partly. That part of the order of the High Court whereby the appellant's application for refund of Rs. 9 lakhs being the balance amount out of the total deposit of Rs. 59 lakhs was rejected is set aside and we allow Company Application to that extent.
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1998 (2) TMI 463 - HIGH COURT OF CALCUTTA
Name of Company - Rectification of ... ... ... ... ..... the writ application. They neither have made any complaint in the writ petition regarding the violation of natural justice and as such he submitted that this writ Court should not interfere in this matter. 10. Considering the facts and circumstances of this case I am of the opinion that all the disputed questions of facts which are involved in this matter is awaiting for adjudication in the Civil Suit, pending before this Court. I am of the opinion that the Regional Director has jurisdiction to pass such order under section 22. Furthermore, there is no illegality or any error appearing on the face of the order passed by the Regional Director. The writ Court further cannot go into the question of evidence and as such I am unable to interfere with the order passed by the Regional Director. 11. By reasons of the premises this writ application fails and is dismissed. There will be no order as to costs. 12. Prayer for stay of operation of the order is refused. SCL q APRIL 20, 1998
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1998 (2) TMI 462 - HIGH COURT OF KERALA
Winding-up - Just and equitable ... ... ... ... ..... bove, this company petition is allowed and the company is ordered to be wound up. The official liquidator is appointed as the liquidator of the company. The 4th respondent - Kerala Financial Corporation - is entitled to sell the mortgaged property of the company mortgaged in their favour by standing outside the winding-up proceedings as provided under section 29 with the involvement of the liquidator appointed in this case in the necessary formalities of sale and the sale subject to the rights of the pari passu chargeholder if any, and confirmation of sale by this Court. The petitioners are directed to advertise the winding-up order in one issue of Mathrubhoomi daily, Cochin edition and in one issue of Indian Express, Cochin edition. Petitioners are further directed to deposit an amount of Rs. 2,500 with the official liquidator for initial expenses. Registry will draw up the winding up order in Form No. 52 and communicate the same to the official liquidator. SCL q MAY 5, 1998
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1998 (2) TMI 460 - HARYANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Deficiency in service ... ... ... ... ..... Certificates. But as this contract was contrary to the terms notified by the Government of India and this was due to inadvertance of the staff. In my opinion it does not become a contract binding the Government of India being unlawful and void. As such, this is not a case of deficiency in service either in terms of the law or in terms of the contract as defined in section 2(1)(g) of the Consumer Protection Act. In view of the binding precedent, which is squarely applicable to the facts and circumstances of the case, we allow the appeal filed by the Postal Department and set aside the order passed by the learned District Forum. Resultantly, the complainant-Market Committee shall not be entitled to receive and the appellants shall not be liable to pay, interest on the maturity amount of the NSCs at the rates admissible on the Certificates of the Seventh Issue. The complaint stands disposed of accordingly with no order as to costs. Complaint disposed of. SCL q SEPTEMBER 20, 1998
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1998 (2) TMI 457 - DELHI STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Consumer - Meaning of, Deficiency in service ... ... ... ... ..... e shares would cease to be tradable. The case of the respondent was, therefore, clearly distinguish-able, and he was covered under the definition of consumer . 4. With regard to the other ground, namely that the company was prevented from transferring the shares earlier than it did because of dispute with its Registrars, does not furnish a complete explanation. The fact remains that the Registrars of the Issue were company s own agents and the complainant failed to receive the shares duly transferred within the statutory limit of two months, from the date of lodgement. We, therefore, find no merit in the appeal. For these reasons, the appeal fails and the same is dismissed with costs which are quantified as Rs. 250. A copy of this order be communicated to both the parties as well as District Forum-II. 5. No case for enhancement of compensation has been made out. The cross appeal, therefore, fails and the same is dismissed. Appeal dismissed with costs. SCL q SEPTEMBER 20, 1998
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1998 (2) TMI 455 - HIGH COURT OF KERALA
Winding up - Suits stayed ... ... ... ... ..... ch matter before the formation of any forum including Consumer Disputes Redressal Forum, Calicut. It is also stated that he has acted only as the promoter of the company and its managing director after it was incorporated and therefore the cases which are filed before and after the winding up order relate only to the company namely, Sai Chakra Studies (P.) Ltd. We therefore permit the appellant herein to make out an application under section 446 and prosecute the same by placing all the materials before the company Judge. Till the Company petition is disposed of, there will be a stay of arrest of the appellant, Prof. P. Narayanankutty in his capacity as the managing director of Sai Chakra Studies (P.) Ltd. Mr. K. Moni appearing for the official liquidator is also at liberty to file an application for dissolution of the company if he so desires. Both the applications shall be disposed of by the Company Court on merits. The appeal is partly allowed. No costs. SCL q MAY 20, 1998
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1998 (2) TMI 454 - HIGH COURT OF KARNATAKA
Rectification of register of members ... ... ... ... ..... nfined to applications contemplated by or under the Code of Civil Procedure. The petition in the present case was to the District Judge as a Court. The petition was one contemplated by the Telegraph Act for judicial decision. The petition is an application falling within the scope of article 137 of the 1963 Limitation Act. (p. 286) 11. For the said reasons, in my opinion, objection raised by Mr. Naganand, appearing for first respondent, regarding entertainment of present appli-cation on the ground of laches has to be rejected since the present applications under section 155 has been filed well within the period of limitation of 3 years. Accordingly, the impugned resolution of the board of directors is set aside with a direction to the first respondent to rectify the register of members by entering the names of the petitioners in terms of their application for transfer of shares. The first respondent will also be liable to pay consolidated cost of Rs. 5,000 to the petitioners.
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1998 (2) TMI 453 - HIGH COURT OF PUNJAB AND HARYANA
Amalgamation ... ... ... ... ..... Central Govern- ment, Official Liquidator and General meeting of both the companies have been placed on record. Further more the concerned authorities have duly recorded that the scheme of amalgamation is in the interest of the share holders and is not opposed to public interest. This petition is not opposed by any person inspite of public notices issued on two different occasions. Apparently I see no reasons or legal impediment in sanctioning the scheme put forward by both the companies. 11. Consequently, this petition is allowed. The scheme of amalgamation, Annexure P/2 to the petition is sanctioned in accordance with the provisions of section 394. The Scheme shall form part of the order of the Court. Formal order in that regard be issued forthwith. The scheme shall be operative with effect from 1-3-1998. Let public notice of sanctioning of the scheme be published in the Indian Express Jansatta and Punjabi Tribune . 12.There will be no orders as to costs. SCL q MAY 20, 1998
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1998 (2) TMI 451 - HIGH COURT OF ANDHRA PRADESH
Winding up of company - Inability to pay its debts, ... ... ... ... ..... ry evidence to be filed on record. The allegation of the petitioner-company that certain amounts were paid by the respondent-company, for the work done for the residential accommodation, of its managing director is also a disputed question of fact. The aforementioned disputed questions of fact cannot be decided until oral evidence is recorded during trial. 11. For the reasons stated above, I reach the conclusion that there is a bona fide dispute regarding the claim of the petitioner-company that an amount of Rs. 2,72,533.42 is recoverable from the respondent-company. The bona fide dispute regarding the liability of the respondent-company can be decided only in the Civil Court after full trial. There is also no material to infer that the respondent-company had become commercially insolvent. 12. In the result, the company petition is dismissed at the admission stage itself. However, in the circumstances of the case, I leave the parties to bear their own costs. SCL q MAY 5, 1998
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1998 (2) TMI 449 - DELHI STATE CONSUMER DISPUTES REDRESSAL COMMISSION
... ...
... ... ..... There is no reason why the complainant should not be awarded interest for the period 6-1-1995 to 29-7-1995 when RBI informed the extent to which permission had been given. 3. The appellant has claimed charges under several other heads. We have carefully gone through the same. According to SEBI guidelines, the refund cheque should have been sent to the complainant at some local branch of the Bank at Delhi but the refund cheque was made payable at Baroda and the complainant had to spend Rs. 658 as collection charges. There is no reason why the appellant should not have been granted the said amount. The appeal is partly allowed. The respondent is further directed to pay interest on the sum of Rs. 2,59,000 for the period 6-1-1995 to 28-7-1995 15 per cent per annum besides Rs. 658 on account of collection charges paid to the Bank. There should be no order as to costs. A copy of this order be conveyed to the parties as well as DF-II. Appeal partly allowed. SCL q SEPTEMBER 20, 1998
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1998 (2) TMI 447 - HIGH COURT OF ANDHRA PRADESH
Winding up - Inability to pay debts ... ... ... ... ..... ere was no attempt on the part of the appellant - company to explain as to why such notices were not replied to. The plea of limitation by itself without scrutiny of facts cannot be termed to be a defence, far less a bona fide defence, so as to resist an application for winding up. It is a duty incumbent on the person contending and availing of such a plea to satisfy the judicial conscience of the court as regards the substance of it upon proper assessment of the facts of the matter under consideration and in the event facts turned otherwise, question of drawing sustenance therefrom does not and cannot arise. The defence must be a bona fide defence and not sham, illusory or moon-shine. 7. On the wake of the observations as above, we are unable to record our concurrence with the submissions of the learned advocate appearing for the appellant-company. In that view of the matter, this appeal fails and is dismissed. There shall, however, be no order as to costs. SCL q MAY 5, 1998
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1998 (2) TMI 446 - HIGH COURT OF MADRAS
Lifting of Corporate Veil ... ... ... ... ..... tablish its case, though the facts of the case are some what interesting involving as it does, the funding for a project in what was then known as Malaysia set up by investments made by companies based in England, by financiers, based in Italy and Switzerland, the project in Malaysia having been ended in failure with the liquidation of the company formed for the project in Malaysia, which in turn, led to the liquidation of the U.K. Company, which held substantial shares in Malaysian company, as a consequence of which the loan given by the financiers based in Switzerland became irrecoverable in part. This litigation has been com-menced in India on the strength of a document executed and written in Switzerland purporting to gift away a non-existent liability, even while the alleged donor continued to receive and retain for itself substantial sums from the liquidator of the borrowing company in U.K. 36. The suit reserves to be and is dismissed, with costs. SCL q DECEMBER 5, 1998
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1998 (2) TMI 426 - CEGAT, NEW DELHI
Classifiaction ... ... ... ... ..... e asked for decision on merits on the same lines as Order No. 521, dated 23-9-97 1998 (97) E.L.T. 152 (T) on the same product in case of the same assessee. 3. emsp We have perused that order, which relates to the same product and the Tribunal has upheld the order of the Collector (Appeals) that Softovac was an ayurvedic preparation. 4. emsp Following the ratio of the above order, which applies squarely to the present case, we see no infirmity in the impugned order passed by the Collector (Appeals) and accordingly, up-hold the same and reject the appeal of the Revenue.
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1998 (2) TMI 425 - CEGAT, MUMBAI-III
... ...
... ... ..... assessee as a result of taking of advances the assessing officer should use the provisions of Section 14A of the Central Excise Act, and have a costing exercise done before determining the price approval. In the present case apart from observing that the advance taken has depressed the price no evidence has been led by the Commissioner, in the impugned order and it has not been shown that because of the advance taken from the customers the price has otherwise been affected. The argument that the advance so taken provides working capital for the assessee for which he would have otherwise paid, interest on bank borrowing, has already been dealt with by the precedent decisions of the Supreme Court as well as the Madras High Court (supra). In these circumstances the ratio of the various decisions is applicable to the present case and the addition of the notional interest on advances received from customers to the assessable value is not sustainable. 3. emsp The appeal is allowed.
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1998 (2) TMI 410 - CEGAT, NEW DELHI
Waste and scrap of copper - Exemption ... ... ... ... ..... om 1-3-1981, the appellant are not entitled for the benefit of notification with effect from 1-3-1981 as held by the Commissioner of Central Excise in the impugned order. 16. emsp The appellants were clearing the goods on the basis of approved classification list. The appellants were filing classification lists which were approved after verification. In the classification list they have mentioned raw material waste and scrap and also mentioned the fact that they want to avail the benefit of Notification No. 74/65-C.E. The appellants have also filed monthly RT 12 returns and they were declaring that waste and scrap is used in the manufacture of final product. These facts were not controverted by the Revenue. In these circumstances we find that there is no suppression of facts with intend to evade the duty on the part of appellant. Therefore the demand of duty has to be limited to six months from the date of show cause notice. The appeal is partially allowed in the above terms.
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1998 (2) TMI 402 - CEGAT, NEW DELHI
... ...
... ... ..... ommitment charge rdquo was not part of price but only liquidated damages for breach of the contract on the part of the buyers and therefore, the same cannot be included in the assessable value. This contention was accepted by the adjudicating authority who dropped the demand. The Collector of Central Excise being aggrieved has filed the present appeal. 2. emsp On the facts there is no dispute that the ldquo commitment charge rdquo collected is related to quantity of goods which the buyer had agreed to lift but had failed to lift. It is, therefore, clear that the charge is clearly in the nature of liquidated damages for breach of contract. The Tribunal has taken the view that amounts recovered in the nature of liquidated damages cannot be part of the price. See Spring Fresh Drinks - 1991 (54) 33 (Tribunal) and Bhartia Cutler Hammer Ltd. - 1998 (99) E.L.T. 436 (Tribunal) 1998 (24) RLT 479 (Tribunal). We, therefore, find no ground to interfere and accordingly dismiss the appeal.
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1998 (2) TMI 401 - CEGAT, CALCUTTA
Confiscation and penalty ... ... ... ... ..... is supplied). From the retraction made before the Chief Metropolitan Magistrate, Calcutta, I find that it is only alleging merciless assault and adoption of third degree measures against the Customs Officers, but does not establish such allegations. In fact, apart from assertion simpliciter, no evidence to prove the assertion has been brought on record. As such, I hold that on the spot, statement of Manoj Kumar Verma to be voluntary and worthy of reliance. I also find that no explanation has come forward from the appellant as to why the gold was handed over to his younger brother, Shri Manoj Kumar Verma from whose possession the same was admittedly recovered, when he was carrying the same to an unknown destination. The other decisions referred to by the appellant do not help them having been delivered in different facts and circumstances. 5. emsp In view of the foregoing discussions, I do not find any merits in the case and reject the appeal by up holding the impugned Orders.
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1998 (2) TMI 400 - CEGAT, MADRAS
... ...
... ... ..... have jurisdiction to decide any appeal in respect of any order referred to in Clause (b) if such order relates to any goods imported or exported as baggage. Therefore, this order of the Commissioner (Appeals) relates to goods imported as baggage. Once if the order relates to the goods imported as baggage then the first proviso is applicable. It is only when the first proviso is not applicable, the second proviso comes into the picture. Therefore, the order in this case relates to the baggage items which are imported by the appellants and therefore first proviso is attracted and the jurisdiction of the Tribunal is ousted. 6. emsp Therefore in my opinion a revision petition alone is maintainable. That being the case, I hold that this appeal is not maintainable and the Registry is directed to return the appeal papers alongwith the stay petition to the appellant for presentation before the proper forum. For statistical purposes, this stay petition and the appeal stands dismissed.
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1998 (2) TMI 391 - CEGAT, MADRAS
Modvat on capital goods - Proportionate credit ... ... ... ... ..... CCE (A). He, therefore, pointed out that same course of action may be taken in this case also. 4. emsp We have heard the submissions made. In para 4 of our order dated 25-9-1997 we have held as follows We have considered pleas made by both the sides. The impugned order remands the matter to the original authority. The said authority will decide the issue de hors the observations regarding applicability of Rule 57S as made by the CCE (A). He should decide the issue taking into consideration the various decisions of the Tribunal rendered from time to time and in accordance with the rules in this regard. The Revenue rsquo s appeal is allowed in the above terms. 5. emsp Accordingly, following our earlier decision, we set aside the impugned order and the matter is remanded to the CCE (A) to decide the same in accordance with law as per the view taken in Final Order No. 646/96, dated 16-4-1996 as well as our Order No. 2588/97, dated 25-9-1997. The appeal is thus allowed by remand.
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1998 (2) TMI 389 - CEGAT, NEW DELHI
SSI Exemption - Registration ... ... ... ... ..... e exemption should be an undertaking registered with the Directorate of Industries. The respondents were having such a certificate. It is also seen that subsequently, the syrup and ear and eye drops were also included in the Registration Certificate. 7. emsp We also find that the matter is covered by the Tribunal rsquo s decision in the case of Manko Industries v. Collector of Central Excise, Chandigarh reported in 1994 (73) E.L.T. 375 (T). The three Member Bench of the Tribunal had held that it was not necessary for an assessee to get each and every product manufactured by him endorsed in his Registration Certificate in order to get the benefit for all the items manufactured by him. 8. emsp Following the above Tribunal decision and in the facts and circumstances of this case, we do not find any infirmity in the view taken by the Collector of Central Excise (Appeals) in both these matters. 9. emsp As a result, there is no merit in both these appeals and the same are rejected.
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